Registered number
07528443
MANNY BUSINESS SOLUTIONS LIMITED
Filleted Accounts
29 February 2024
MANNY BUSINESS SOLUTIONS LIMITED
Registered number: 07528443
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 130,467 156,380
Current assets
Debtors 4 110,867 141,183
Cash at bank and in hand - 19,883
110,867 161,066
Creditors: amounts falling due within one year 5 (118,538) (133,980)
Net current (liabilities)/assets (7,671) 27,086
Total assets less current liabilities 122,796 183,466
Creditors: amounts falling due after more than one year 6 (121,555) (182,400)
Net assets 1,241 1,066
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 241 66
Shareholders' funds 1,241 1,066
The directors are 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 directors acknowledge their 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.
Maninder Singh
Director
Approved by the board on 18 September 2024
MANNY BUSINESS SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 29 February 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 and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 20,700 149,364 170,064
At 29 February 2024 20,700 149,364 170,064
Depreciation
At 1 March 2023 13,684 - 13,684
Charge for the year 3,508 22,405 25,913
At 29 February 2024 17,192 22,405 39,597
Net book value
At 29 February 2024 3,508 126,959 130,467
At 28 February 2023 7,016 149,364 156,380
4 Debtors 2024 2023
£ £
Trade debtors 106,341 113,541
Deferred tax asset 4,817 4,817
Other debtors (291) 22,825
110,867 141,183
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 34,024 22,916
Trade creditors 47,799 77,206
Taxation and social security costs 33,787 19,410
Other creditors 2,928 14,448
118,538 133,980
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 121,555 182,400
7 Controlling party
The company is controlled 100% by the director Maninder Singh.
8 Other information
MANNY BUSINESS SOLUTIONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
131 Long Lane
Hillingdon
Uxbridge
UB10 OAT
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