Registered number
05020651
Manu Properties Limited
Filleted Accounts
31 March 2024
Manu Properties Limited
Registered number: 05020651
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,000,973 1,088,042
Current assets
Debtors 4 7,451 9,242
Cash at bank and in hand 18,081 7,843
25,532 17,085
Creditors: amounts falling due within one year 5 (56,914) (80,412)
Net current liabilities (31,382) (63,327)
Total assets less current liabilities 969,591 1,024,715
Creditors: amounts falling due after more than one year 6 (497,048) (603,419)
Net assets 472,543 421,296
Capital and reserves
Profit and loss account 472,543 421,296
Shareholders' funds 472,543 421,296
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Prit Paul Singh Mandair
Director
Approved by the board on 19 October 2024
Manu Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from rental income and property management fees.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on Reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 1,087,978 7,540 1,095,518
Disposals (87,053) - (87,053)
At 31 March 2024 1,000,925 7,540 1,008,465
Depreciation
At 1 April 2023 - 7,476 7,476
Charge for the year - 16 16
At 31 March 2024 - 7,492 7,492
Net book value
At 31 March 2024 1,000,925 48 1,000,973
At 31 March 2023 1,087,978 64 1,088,042
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,000,925 1,087,978
Cumulative depreciation based on historical cost - -
1,000,925 1,087,978
The properties are estimated to be valued £1.4m @ 6% return as per valuation carried out by the director.
4 Debtors 2024 2023
£ £
Trade debtors 7,451 9,242
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 27,875 48,600
Taxation and social security costs 15,027 18,595
Prepaid rent & deposit 13,717 13,217
Other creditors 295 -
56,914 80,412
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 124,361 222,247
Aton Investments Ltd 323,100 323,100
Director's account 49,587 58,072
497,048 603,419
7 Other information
Manu Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
21 Colbert Avenue
Southend on Sea
Essex
SS1 3BH
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