Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Guy Cunuffe Barlow 19/01/2004 Christopher Jeffcoate 09/04/2018 Jonathan Paul Manser 10/02/2020 Patrick John Barry Mullin 10/11/1999 19 September 2024 The principal activity of the company in the year under review was that of architectural and consultancy services. 01588643 2023-12-31 01588643 bus:Director1 2023-12-31 01588643 bus:Director2 2023-12-31 01588643 bus:Director3 2023-12-31 01588643 bus:Director4 2023-12-31 01588643 2022-12-31 01588643 core:CurrentFinancialInstruments 2023-12-31 01588643 core:CurrentFinancialInstruments 2022-12-31 01588643 core:Non-currentFinancialInstruments 2023-12-31 01588643 core:Non-currentFinancialInstruments 2022-12-31 01588643 core:ShareCapital 2023-12-31 01588643 core:ShareCapital 2022-12-31 01588643 core:RetainedEarningsAccumulatedLosses 2023-12-31 01588643 core:RetainedEarningsAccumulatedLosses 2022-12-31 01588643 core:OtherPropertyPlantEquipment 2022-12-31 01588643 core:OtherPropertyPlantEquipment 2023-12-31 01588643 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 01588643 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 01588643 bus:OrdinaryShareClass1 2023-12-31 01588643 core:WithinOneYear 2023-12-31 01588643 core:WithinOneYear 2022-12-31 01588643 core:BetweenOneFiveYears 2023-12-31 01588643 core:BetweenOneFiveYears 2022-12-31 01588643 2023-01-01 2023-12-31 01588643 bus:FilletedAccounts 2023-01-01 2023-12-31 01588643 bus:SmallEntities 2023-01-01 2023-12-31 01588643 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01588643 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01588643 bus:Director1 2023-01-01 2023-12-31 01588643 bus:Director2 2023-01-01 2023-12-31 01588643 bus:Director3 2023-01-01 2023-12-31 01588643 bus:Director4 2023-01-01 2023-12-31 01588643 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-01-01 2023-12-31 01588643 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 01588643 2022-01-01 2022-12-31 01588643 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01588643 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 01588643 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01588643 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01588643 (England and Wales)

THE MANSER PRACTICE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

THE MANSER PRACTICE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

THE MANSER PRACTICE LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
THE MANSER PRACTICE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Guy Cunuffe Barlow
Christopher Jeffcoate
Jonathan Paul Manser
Patrick John Barry Mullin
SECRETARY Patrick John Barry Mullin
REGISTERED OFFICE Bridge Studios
Hammersmith Bridge
London
W6 9DA
United Kingdom
COMPANY NUMBER 01588643 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
THE MANSER PRACTICE LIMITED

BALANCE SHEET

As at 31 December 2023
THE MANSER PRACTICE LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 78,182 49,637
78,182 49,637
Current assets
Debtors 4 1,007,411 744,342
Cash at bank and in hand 5 601,115 648,925
1,608,526 1,393,267
Creditors: amounts falling due within one year 6 ( 704,271) ( 647,579)
Net current assets 904,255 745,688
Total assets less current liabilities 982,437 795,325
Creditors: amounts falling due after more than one year ( 21,811) 0
Provision for liabilities ( 8,505) ( 8,505)
Net assets 952,121 786,820
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 951,121 785,820
Total shareholder's funds 952,121 786,820

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Manser Practice Limited (registered number: 01588643) were approved and authorised for issue by the Board of Directors on 19 September 2024. They were signed on its behalf by:

Jonathan Paul Manser
Director
THE MANSER PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
THE MANSER PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Manser Practice Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bridge Studios, Hammersmith Bridge, London, W6 9DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery etc. 3 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 36 34

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 141,791 141,791
Additions 57,751 57,751
Disposals ( 55,602) ( 55,602)
At 31 December 2023 143,940 143,940
Accumulated depreciation
At 01 January 2023 92,154 92,154
Charge for the financial year 29,206 29,206
Disposals ( 55,602) ( 55,602)
At 31 December 2023 65,758 65,758
Net book value
At 31 December 2023 78,182 78,182
At 31 December 2022 49,637 49,637
Leased assets included above:
Net book value
At 31 December 2023 29,007 29,007
At 31 December 2022 0 0

4. Debtors

2023 2022
£ £
Trade debtors 726,782 513,873
Other debtors 280,629 230,469
1,007,411 744,342

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 601,115 648,925

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 447,642 418,074
Amounts owed to Parent undertakings 43,216 43,216
Taxation and social security 118,429 135,895
Obligations under finance leases and hire purchase contracts 4,838 0
Other creditors 90,146 50,394
704,271 647,579

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 40,002 12,074
between one and five years 106,006 960
146,008 13,034

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 6,002 5,368

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to directors 329 12,904
Amounts owed by directors 2,284 0

The balances are interest free and repayable on demand.

Other related party transactions

2023 2022
£ £
Rental costs from a company under the control of a director 80,196 79,596
Interest free loan to the company under the control of a director 11,547 11,478

10. Ultimate controlling party

Parent Company:

Manser Holdings Limited
Bridge Studios
Hammersmith Bridge Road
London,
W6 9DA