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COMPANY REGISTRATION NUMBER: 07792034
Manuel Swaden Limited
Filleted Unaudited Financial Statements
1 April 2024
Manuel Swaden Limited
Financial Statements
Period from 1 December 2023 to 1 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Manuel Swaden Limited
Statement of Financial Position
1 April 2024
1 Apr 24
30 Nov 23
Note
£
£
£
£
Fixed assets
Intangible assets
5
149,001
169,501
Tangible assets
6
4,070
---------
---------
149,001
173,571
Current assets
Stocks
76,000
76,000
Debtors
7
69,135
196,414
Cash at bank and in hand
5,911
15,431
---------
---------
151,046
287,845
Creditors: amounts falling due within one year
8
218,213
214,751
---------
---------
Net current (liabilities)/assets
( 67,167)
73,094
---------
---------
Total assets less current liabilities
81,834
246,665
Creditors: amounts falling due after more than one year
9
18,330
--------
---------
Net assets
81,834
228,335
--------
---------
Capital and reserves
Called up share capital
3
3
Profit and loss account
81,831
228,332
--------
---------
Shareholders funds
81,834
228,335
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 1 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Manuel Swaden Limited
Statement of Financial Position (continued)
1 April 2024
These financial statements were approved by the board of directors and authorised for issue on 26 October 2024 , and are signed on behalf of the board by:
D B Black
Director
Company registration number: 07792034
Manuel Swaden Limited
Notes to the Financial Statements
Period from 1 December 2023 to 1 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First floor, The Edge, Clowes Street, Salford, M3 5NA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business and is being amortised evenly over its estimated useful life of 10 years.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Work in progress
Revenue and costs are recognised by reference to the stage of completion at the reporting end date. Where the outcome cannot be estimated reliably, Costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of costs incurred where it is probable that they will be recoverable. The percentage of completion method is used to determine the appropriate amount to recognise in a given period.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 9 (2023: 9 ).
5. Intangible assets
Goodwill
Patents and licences
Total
£
£
£
Cost
At 1 December 2023 and 1 April 2024
661,500
1
661,501
---------
----
---------
Amortisation
At 1 December 2023
492,000
492,000
Charge for the period
20,500
20,500
---------
----
---------
At 1 April 2024
512,500
512,500
---------
----
---------
Carrying amount
At 1 April 2024
149,000
1
149,001
---------
----
---------
At 30 November 2023
169,500
1
169,501
---------
----
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2023
171,657
24,609
196,266
Disposals
( 171,657)
( 24,609)
( 196,266)
---------
--------
---------
At 1 April 2024
---------
--------
---------
Depreciation
At 1 December 2023
167,787
24,409
192,196
Charge for the period
322
17
339
Disposals
( 168,109)
( 24,426)
( 192,535)
---------
--------
---------
At 1 April 2024
---------
--------
---------
Carrying amount
At 1 April 2024
---------
--------
---------
At 30 November 2023
3,870
200
4,070
---------
--------
---------
7. Debtors
1 Apr 24
30 Nov 23
£
£
Trade debtors
69,135
99,493
Other debtors
96,921
--------
---------
69,135
196,414
--------
---------
8. Creditors: amounts falling due within one year
1 Apr 24
30 Nov 23
£
£
Bank loans and overdrafts
32,322
Social security and other taxes
192,045
175,263
Other creditors
26,168
7,166
---------
---------
218,213
214,751
---------
---------
9. Creditors: amounts falling due after more than one year
1 Apr 24
30 Nov 23
£
£
Bank loans and overdrafts
18,330
----
--------