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REGISTERED NUMBER: 01454486 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Mandol Ltd

Mandol Ltd (Registered number: 01454486)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mandol Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W T A Winters
Mrs A Winters
R A M Winters
I C M Winters
Miss G A M Winters
A P M Winters





SECRETARY: W T A Winters





REGISTERED OFFICE: Valley Farm
Sayers Common
Hassocks
West Sussex
BN6 9JQ





REGISTERED NUMBER: 01454486 (England and Wales)





ACCOUNTANTS: Clamp Boxall Ltd
88 Boundary Road
Hove
East Sussex
BN3 7GA

Mandol Ltd (Registered number: 01454486)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,101,538 1,160,645
Investment property 5 3,216,256 2,355,000
4,317,794 3,515,645

CURRENT ASSETS
Stocks 15,600 15,700
Debtors 6 44,968 44,964
Prepayments and accrued income 8,687 9,037
Cash at bank and in hand 8,860 12,519
78,115 82,220
CREDITORS
Amounts falling due within one year 7 446,856 743,635
NET CURRENT LIABILITIES (368,741 ) (661,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,949,053

2,854,230

CREDITORS
Amounts falling due after more than one
year

8

(905,778

)

(646,465

)

PROVISIONS FOR LIABILITIES (516,593 ) (316,406 )

ACCRUALS AND DEFERRED INCOME (9,579 ) (9,006 )
NET ASSETS 2,517,103 1,882,353

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 292,853 334,341
Fair value reserve 10 1,605,947 964,834
Retained earnings 618,203 583,078
SHAREHOLDERS' FUNDS 2,517,103 1,882,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mandol Ltd (Registered number: 01454486)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





W T A Winters - Director


Mandol Ltd (Registered number: 01454486)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mandol Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts where applicable, rebates, and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and Straight line over 20 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable values after making due allowance for obsolete or slow-moving stocks.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and other investments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Mandol Ltd (Registered number: 01454486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,125,000 159,460 1,284,460
Revaluations (52,713 ) - (52,713 )
Impairments (2,287 ) - (2,287 )
At 31 December 2023 1,070,000 159,460 1,229,460
DEPRECIATION
At 1 January 2023 - 123,815 123,815
Charge for year - 4,107 4,107
At 31 December 2023 - 127,922 127,922
NET BOOK VALUE
At 31 December 2023 1,070,000 31,538 1,101,538
At 31 December 2022 1,125,000 35,645 1,160,645

Land and buildings were valued on an open market basis by Vail Williams in 2023.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 2,355,000
Additions 5,416
Fair value adjustment 880,454
Impairments (24,614 )
At 31 December 2023 3,216,256
NET BOOK VALUE
At 31 December 2023 3,216,256
At 31 December 2022 2,355,000

Land and buildings were valued on an open market basis by Vail Williams in 2023.

Mandol Ltd (Registered number: 01454486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 44,968 44,964

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 93,315 357,263
Trade creditors 2,013 21,695
Taxation and social security 20,824 14,022
Other creditors 330,704 350,655
446,856 743,635

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 844,300 576,769
Other creditors 61,478 69,696
905,778 646,465

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5 and more years 468,137 389,195

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 937,615 934,032

The company's indebtedness is secured by charges over the company's freehold property.

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 January 2023 334,341 964,834 1,299,175
Revaluation in the year (41,488 ) - (41,488 )
Investment property - 641,113 641,113

At 31 December 2023 292,853 1,605,947 1,898,800