Menhenitt and Prior Limited Filleted Accounts Cover
Menhenitt and Prior Limited
Company No. 00965542
Information for Filing with The Registrar
31 March 2024
Menhenitt and Prior Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was that of property management.
Directors
The Directors who served at any time during the year were as follows:
D. Menhenitt
R.C. Prior
J.M. Snell
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
R.C. Prior
Director
30 September 2024
Menhenitt and Prior Limited Balance Sheet Registrar
at
31 March 2024
Company No.
00965542
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
510680
Investment property
5
1,099,0001,088,000
1,099,5101,088,680
Current assets
Debtors
6
90,43489,208
Cash at bank and in hand
668,282504,408
758,716593,616
Creditors: Amount falling due within one year
7
(125,855)
(90,947)
Net current assets
632,861502,669
Total assets less current liabilities
1,732,3711,591,349
Provisions for liabilities
Deferred taxation
(35,447)
-
Other provisions
(43,130)
(43,130)
Net assets
1,653,7941,548,219
Capital and reserves
Called up share capital
10,50010,500
Non-distributable reserve
8
333,920293,032
Profit and loss account
8
1,309,3741,244,687
Total equity
1,653,7941,548,219
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 30 September 2024 and signed on its behalf by:
J.M. Snell
Director
30 September 2024
Menhenitt and Prior Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
Menhenitt and Prior Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 00965542
Its registered office is:
Menhenitt and Prior Limited
3 Trenant Industrial Estate
WADEBRIDGE
Cornwall
PL27 6HB
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover represents the invoiced value of rents from light industrial units.

Rental income is recognised on a straight line basis over the life of the lease.

The unearned portion of lease invoices, relating to future periods, is excluded from income and included in accruals and deferred income.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Motor vehicles
Total
£
£
Cost or revaluation
At 1 April 2023
3,8253,825
At 31 March 2024
3,8253,825
Depreciation
At 1 April 2023
3,1453,145
Charge for the year
170170
At 31 March 2024
3,3153,315
Net book values
At 31 March 2024
510510
At 31 March 2023
680
680
5
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2023
1,088,000
Revaluation
76,207
Disposals
(65,207)
At 31 March 2024
1,099,000
The freehold investment property was acquired on 3rd June 1983. The freehold property was revalued on 31st March 2024 by the directors.
6
Debtors
2024
2023
£
£
Trade debtors
86,28086,170
VAT recoverable
-290
Prepayments and accrued income
4,1542,748
90,43489,208
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
7,4836,840
Taxes and social security
74,434
20,512
Accruals and deferred income
43,93863,595
125,85590,947
8
Reserves
Non-distributable Reserve
Total other reserves
£
£
At 1 April 2022
235,032
235,032
Movement on Non-distributable Reserve
58,000
58,000
At 31 March 2023 and 1 April 2023
293,032
293,032
Movement on Non-distributable Reserve
76,207
76,207
Deferred taxation
(35,319)
(35,319)
At 31 March 2024
333,920333,920
Non-distributable reserve - reflects the separation of non-distributable revaluation gains from distributable profits.
Profit and loss account - includes all current and prior period retained profits and losses.
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