Manorteq Limited 13817118 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Manufacture of other chemical products not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true 13817118 2023-01-01 2023-12-31 13817118 2023-12-31 13817118 core:RetainedEarningsAccumulatedLosses 2023-12-31 13817118 core:ShareCapital 2023-12-31 13817118 core:CurrentFinancialInstruments 2023-12-31 13817118 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13817118 bus:SmallEntities 2023-01-01 2023-12-31 13817118 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13817118 bus:FullAccounts 2023-01-01 2023-12-31 13817118 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13817118 bus:RegisteredOffice 2023-01-01 2023-12-31 13817118 bus:Director1 2023-01-01 2023-12-31 13817118 bus:Director2 2023-01-01 2023-12-31 13817118 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13817118 countries:EnglandWales 2023-01-01 2023-12-31 13817118 2021-12-24 2022-12-31 13817118 2022-12-31 13817118 core:RetainedEarningsAccumulatedLosses 2022-12-31 13817118 core:ShareCapital 2022-12-31 13817118 core:CurrentFinancialInstruments 2022-12-31 13817118 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 13817118

Manorteq Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Manorteq Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Manorteq Limited

Company Information

Directors

J Mandelik

A Trow

Registered office

Unit 7 Britannia Business Centre
Britannia Way
Malvern
Worcestershire
WR14 1GZ

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Manorteq Limited

(Registration number: 13817118)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

16,416

-

Debtors

5

33,133

14,474

Cash at bank and in hand

 

25,051

22,820

 

74,600

37,294

Creditors: Amounts falling due within one year

6

(29,255)

(30,763)

Net assets

 

45,345

6,531

Capital and reserves

 

Called up share capital

100

100

Retained earnings

45,245

6,431

Shareholders' funds

 

45,345

6,531

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
A Trow
Director

   
 

Manorteq Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7 Britannia Business Centre
Britannia Way
Malvern
Worcestershire
WR14 1GZ
Great Britain

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Manorteq Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Manorteq Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Stocks

2023
£

2022
£

Other inventories

16,416

-

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

32,900

-

Amounts owed by related parties

50

-

Other debtors

 

50

14,358

Prepayments

 

133

116

 

33,133

14,474

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

2,753

1,695

Amounts owed to related parties

13,674

24,353

Taxation and social security

 

2,598

2,203

Other creditors

 

10,230

2,512

 

29,255

30,763