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Registered number: 11005035
Manico Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11005035
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,302 15,629
11,302 15,629
CURRENT ASSETS
Debtors 6 7,998 11,500
Cash at bank and in hand 108 36
8,106 11,536
Creditors: Amounts Falling Due Within One Year 7 (50,476 ) (53,038 )
NET CURRENT ASSETS (LIABILITIES) (42,370 ) (41,502 )
TOTAL ASSETS LESS CURRENT LIABILITIES (31,068 ) (25,873 )
NET LIABILITIES (31,068 ) (25,873 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (31,069 ) (25,874 )
SHAREHOLDERS' FUNDS (31,068) (25,873)
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Darren Dalton
Director
15th October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Manico Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11005035 . The registered office is Castle House, Castle Street, Guildford, Surrey, GU1 3UW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets include a trademark. It is amortised to profit and loss account over its estimated economic life of 10 years.
Website development is amortised evenly over its estimated useful economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.3% on cost
Fixtures & Fittings 33.3% on cost
Computer Equipment 33.3% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Intangible Assets
Other
£
Cost
As at 1 November 2022 15,780
As at 31 October 2023 15,780
Amortisation
As at 1 November 2022 151
Provided during the period 4,327
As at 31 October 2023 4,478
Net Book Value
As at 31 October 2023 11,302
As at 1 November 2022 15,629
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 1,500 4,732 3,509 9,741
Disposals (1,500 ) (3,945 ) (3,509 ) (8,954 )
As at 31 October 2023 - 787 - 787
Depreciation
As at 1 November 2022 1,500 4,732 3,509 9,741
Disposals (1,500 ) (3,945 ) (3,509 ) (8,954 )
As at 31 October 2023 - 787 - 787
Net Book Value
As at 31 October 2023 - - - -
As at 1 November 2022 - - - -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,998 11,500
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,305 405
Other creditors 49,171 52,633
50,476 53,038
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Related Party Transactions
Index and Co Pty Ltd
Total sales of £Nil ( 2022: £1,000) to the related party are recognised in the accounts.
These transactions were at market value.
The amount due from the related party at the balance sheet date was £8,400 (2021: £11,500)
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr D Dalton by virtue of his ownership of 100% of the issued share capital in the company.
11. Going Concern
As at the balance sheet date the company had net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the director and shareholder will continue to support the company for the foreseeable future.
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