Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false1012true 09290165 2023-01-01 2023-12-31 09290165 2022-01-01 2022-12-31 09290165 2023-12-31 09290165 2022-12-31 09290165 2022-01-01 09290165 c:Director2 2023-01-01 2023-12-31 09290165 d:PlantMachinery 2023-01-01 2023-12-31 09290165 d:MotorVehicles 2023-01-01 2023-12-31 09290165 d:OfficeEquipment 2023-01-01 2023-12-31 09290165 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09290165 d:OtherPropertyPlantEquipment 2023-12-31 09290165 d:OtherPropertyPlantEquipment 2022-12-31 09290165 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09290165 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 09290165 d:CurrentFinancialInstruments 2023-12-31 09290165 d:CurrentFinancialInstruments 2022-12-31 09290165 d:Non-currentFinancialInstruments 2023-12-31 09290165 d:Non-currentFinancialInstruments 2022-12-31 09290165 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09290165 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09290165 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09290165 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09290165 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 09290165 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 09290165 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09290165 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09290165 d:ShareCapital 2023-01-01 2023-12-31 09290165 d:ShareCapital 2023-12-31 09290165 d:ShareCapital 2022-01-01 2022-12-31 09290165 d:ShareCapital 2022-12-31 09290165 d:ShareCapital 2022-01-01 09290165 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 09290165 d:CapitalRedemptionReserve 2023-12-31 09290165 d:CapitalRedemptionReserve 2022-12-31 09290165 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09290165 d:RetainedEarningsAccumulatedLosses 2023-12-31 09290165 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09290165 d:RetainedEarningsAccumulatedLosses 2022-12-31 09290165 d:RetainedEarningsAccumulatedLosses 2022-01-01 09290165 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09290165 c:OrdinaryShareClass1 2023-12-31 09290165 c:OrdinaryShareClass1 2022-12-31 09290165 c:OrdinaryShareClass2 2023-01-01 2023-12-31 09290165 c:OrdinaryShareClass2 2023-12-31 09290165 c:OrdinaryShareClass2 2022-12-31 09290165 c:OrdinaryShareClass3 2023-01-01 2023-12-31 09290165 c:OrdinaryShareClass3 2022-12-31 09290165 c:OrdinaryShareClass4 2023-01-01 2023-12-31 09290165 c:OrdinaryShareClass4 2023-12-31 09290165 c:OrdinaryShareClass4 2022-12-31 09290165 c:FRS102 2023-01-01 2023-12-31 09290165 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09290165 c:FullAccounts 2023-01-01 2023-12-31 09290165 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09290165 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 09290165 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 09290165 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 09290165 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 09290165 2 2023-01-01 2023-12-31 09290165 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09290165 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 09290165 d:RetirementBenefitObligationsDeferredTax 2023-12-31 09290165 d:RetirementBenefitObligationsDeferredTax 2022-12-31 09290165 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 09290165 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 09290165 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 09290165 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 09290165 d:LeasedAssetsHeldAsLessee 2023-12-31 09290165 d:LeasedAssetsHeldAsLessee 2022-12-31 09290165 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09290165









MAN CONSTRUCTION LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MAN CONSTRUCTION LIMITED
REGISTERED NUMBER: 09290165

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
77,277
103,797

Current assets
  

Stocks
  
69,111
72,124

Debtors: amounts falling due within one year
 5 
453,160
419,914

Cash at bank
  
36,595
87,027

  
558,866
579,065

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(363,709)
(236,832)

Net current assets
  
 
 
195,157
 
 
342,233

Total assets less current liabilities
  
272,434
446,030

Creditors: amounts falling due after more than one year
 7 
(20,328)
(42,559)

Provisions for liabilities
  

Deferred tax
 10 
(13,852)
(20,651)

Net assets
  
238,254
382,820


Capital and reserves
  

Called up share capital 
 11 
70
100

Capital redemption reserve
  
30
-

Profit and loss account
  
238,154
382,720

  
238,254
382,820

Page 1

 
MAN CONSTRUCTION LIMITED
REGISTERED NUMBER: 09290165

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 by: 






Mr A Frear
Director

Date: 25 September 2024

The notes on pages 4 to 12 form part of these financial statements.
Page 2

 
MAN CONSTRUCTION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
100
-
382,720
382,820


Comprehensive income for the year

Profit for the year
-
-
23,434
23,434


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(78,000)
(78,000)

Purchase of own shares
-
30
(90,000)
(89,970)

Shares cancelled during the year
(30)
-
-
(30)


Total transactions with owners
(30)
30
(168,000)
(168,000)


At 31 December 2023
70
30
238,154
238,254


The notes on pages 4 to 12 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
100
417,622
417,722


Comprehensive income for the year

Profit for the year
-
43,098
43,098


Contributions by and distributions to owners

Dividends: Equity capital
-
(78,000)
(78,000)


Total transactions with owners
-
(78,000)
(78,000)


At 31 December 2022
100
382,720
382,820


The notes on pages 4 to 12 form part of these financial statements.
Page 3

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

MAN Construction Limited is a Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ. This Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 5

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

STOCKS AND WORK IN PROGRESS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.15

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 10 (2022 - 12).


4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



Cost


At 1 January 2023
235,187


Disposals
(7,600)



At 31 December 2023

227,587



Depreciation


At 1 January 2023
131,390


Charge for the year on owned assets
8,227


Charge for the year on financed assets
17,723


Disposals
(7,030)



At 31 December 2023

150,310



Net book value



At 31 December 2023
77,277



At 31 December 2022
103,797

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
20,251
27,002

Motor vehicles
32,917
43,889

53,168
70,891

Page 8

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
52,346
58,174

Other debtors
390,238
350,601

Prepayments
9,599
10,162

Tax recoverable
977
977

453,160
419,914



6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,149
9,898

Trade creditors
128,025
110,739

Corporation tax
16,387
1,440

Other taxation and social security
-
6,072

Net obligations under finance lease and hire purchase contracts
12,100
18,767

Other creditors
157,036
67,515

Accruals
40,012
22,401

363,709
236,832



7.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,753
24,884

Net obligations under finance lease and hire purchase contracts
5,575
17,675

20,328
42,559


Included within creditors are secured debts amounting to £17,675 (2022 - £36,442) which are secured on the fixed assets to which they relate.

Page 9

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,149
9,898

Amounts falling due 1-2 years

Bank loans
10,298
10,149

Amounts falling due 2-5 years

Bank loans
4,455
14,735


24,902
34,782



9.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
12,100
18,767

Between 1-5 years
5,575
17,675

17,675
36,442
Page 10

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
(20,651)
(9,708)


Charged to profit or loss
6,799
(10,943)



At end of year
(13,852)
(20,651)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(14,089)
(20,719)

Pension surplus
237
68

(13,852)
(20,651)


11.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



30 (2022 - 30) Ordinary A shares of £1.00 each
30
30
30 (2022 - 30) Ordinary B shares of £1.00 each
30
30
Nil (2022 - 30) Ordinary C shares of £1.00 each
-
30
10 (2022 - 10) Ordinary D shares of £1.00 each
10
10

70

100

During the year 30 Ordinary C shares of £1 each were bought back for cash consideration above par, at £3,000 per share.



12.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,730 (202 - £36,812). Contributions totalling £1,352 (2022 - £640) were payable to the fund at the balance sheet date and are included in creditors.

Page 11

 
MAN CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


TRANSACTIONS WITH DIRECTORS

At 01 January 2023 one of the directors owed the Company £3,005. There was no movement on this loan during the year. At 31 December 2023 £3,005 was owed to the Company. This loan is interest free and repayable on demand. S455 tax has been provided for in full.


14.


RELATED PARTY TRANSACTIONS

During the year the Company operated loans with the directors and former director of the Company. The amount payable to them at the year end was £155,684 (2022 - £61,368). These loans are interest free and repayable on demand.
During the year the Company operated a loan account with Mr R Houghthe father of a director of the Company. The amount due to Mr R Hough at the year end was £Nil (2022 - £5,507). This loan is interest free and repayable on demand.
During the year the Company operated a loan with MAN Developments Limited, a company under common control. The amount due from MAN Developments Limited at the year end was £375,522 (2022 - £315,522). This loan is interest free and repayable on demand.


Page 12