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REGISTERED NUMBER: SC563323 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Manson Kerr Limited

Manson Kerr Limited (Registered number: SC563323)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Manson Kerr Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R S L Lee
Jonathan Lee
Mrs Alison Lee





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC563323 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Manson Kerr Limited (Registered number: SC563323)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,428 31,558
Investment property 5 1,741,920 709,650
1,845,348 741,208

CURRENT ASSETS
Debtors 6 4,135 -
Cash at bank 17,785 20,340
21,920 20,340
CREDITORS
Amounts falling due within one year 7 414,002 196,351
NET CURRENT LIABILITIES (392,082 ) (176,011 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,453,266

565,197

CREDITORS
Amounts falling due after more than one
year

8

(1,119,421

)

(268,138

)

PROVISIONS FOR LIABILITIES 9 (13,909 ) (5,996 )
NET ASSETS 319,936 291,063

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 319,636 290,763
SHAREHOLDERS' FUNDS 319,936 291,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Manson Kerr Limited (Registered number: SC563323)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





R S L Lee - Director


Manson Kerr Limited (Registered number: SC563323)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Manson Kerr Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Manson Kerr Limited (Registered number: SC563323)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fittings
to and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 - 100 50,840 6,335 57,275
Additions 30,222 356 64,675 1,244 96,497
At 31 March 2024 30,222 456 115,515 7,579 153,772
DEPRECIATION
At 1 April 2023 - 67 22,009 3,641 25,717
Charge for year - 78 23,377 1,172 24,627
At 31 March 2024 - 145 45,386 4,813 50,344
NET BOOK VALUE
At 31 March 2024 30,222 311 70,129 2,766 103,428
At 31 March 2023 - 33 28,831 2,694 31,558

Manson Kerr Limited (Registered number: SC563323)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 709,650
Additions 1,032,270
At 31 March 2024 1,741,920
NET BOOK VALUE
At 31 March 2024 1,741,920
At 31 March 2023 709,650

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,135 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 8,837 -
Trade creditors 19,263 -
Taxation and social security 19,194 12,381
Other creditors 361,708 178,970
414,002 196,351

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 7,526 12,679
Hire purchase contracts 15,822 -
Other creditors 1,096,073 255,459
1,119,421 268,138

Amounts falling due in more than five years:

Repayable by instalments
Loan - YF Lee - > 5 yrs 818,193 -

Manson Kerr Limited (Registered number: SC563323)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 13,909 5,996

Deferred
tax
£   
Balance at 1 April 2023 5,996
Provided during year 7,913
Balance at 31 March 2024 13,909

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 300