Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseProperty investment21truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00836614 2023-04-01 2024-03-31 00836614 2022-04-01 2023-03-31 00836614 2024-03-31 00836614 2023-03-31 00836614 2022-04-01 00836614 c:Director1 2023-04-01 2024-03-31 00836614 d:FreeholdInvestmentProperty 2024-03-31 00836614 d:FreeholdInvestmentProperty 2023-03-31 00836614 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 00836614 d:CurrentFinancialInstruments 2024-03-31 00836614 d:CurrentFinancialInstruments 2023-03-31 00836614 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00836614 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00836614 d:ShareCapital 2024-03-31 00836614 d:ShareCapital 2023-03-31 00836614 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00836614 d:RetainedEarningsAccumulatedLosses 2024-03-31 00836614 d:RetainedEarningsAccumulatedLosses 2023-03-31 00836614 c:FRS102 2023-04-01 2024-03-31 00836614 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00836614 c:FullAccounts 2023-04-01 2024-03-31 00836614 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00836614 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00836614 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00836614 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00836614










MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED
REGISTERED NUMBER: 00836614

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
1,213,985
1,087,335

Current assets
  

Debtors: amounts falling due within one year
 6 
8,298
10,066

Cash at bank and in hand
  
647,872
647,501

  
656,170
657,567

Creditors: amounts falling due within one year
 7 
(170,939)
(175,088)

Net current assets
  
 
 
485,231
 
 
482,479

Total assets less current liabilities
  
1,699,216
1,569,814

Provisions for liabilities
  

Deferred tax
 8 
(67,588)
(63,988)

Net assets
  
1,631,628
1,505,826


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Profit and loss account
 9 
1,626,628
1,500,826

  
1,631,628
1,505,826


Page 1

 
MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED
REGISTERED NUMBER: 00836614
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2024.





J A B Short
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Manor Developements (Chesterfield) Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 00836614). Its registered office is  33 The Bridge Business Centre, Beresford Way, Chesterfield, Derbyshire, S41 9FG. The principal activity of the Company throughout the year continued to be that of property investors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

Page 3

 
MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.
The directors have made key assumptions in the determination of fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

Page 4

 
MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,087,335


Surplus on revaluation
126,650



At 31 March 2024
1,213,985

The 2024 valuations were made by the directors, on an open market value for existing use basis.



At 31 March 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
622,146
622,146


6.


Debtors

2024
2023
£
£


Trade debtors
8,204
9,972

Other debtors
94
94

8,298
10,066



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
153,726
157,991

Other creditors
17,213
17,097

170,939
175,088


Page 5

 
MANOR DEVELOPMENTS (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
63,988
21,604


Charged to profit or loss
3,600
42,384



At end of year
67,588
63,988

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
67,588
63,988


9.


Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revaluation reserve, which, being and unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account.
The Profit and Loss Account reserve at 31 March 2024 includes a non-distributable amount of £526,419 (2023: £399,769).

 
Page 6