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REGISTERED NUMBER: 12358940 (England and Wales)















MANOR CREST DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 OCTOBER 2022 TO 31 OCTOBER 2023






MANOR CREST DEVELOPMENTS LTD (REGISTERED NUMBER: 12358940)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 OCTOBER 2022 TO 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


MANOR CREST DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE PERIOD 31 OCTOBER 2022 TO 31 OCTOBER 2023







DIRECTORS: L M Hall
D A Wann



REGISTERED OFFICE: Unit 1
The Circus
Belton Park Road
Skegness
Lincolnshire
PE25 1GU



REGISTERED NUMBER: 12358940 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB

MANOR CREST DEVELOPMENTS LTD (REGISTERED NUMBER: 12358940)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,435 7,572

CURRENT ASSETS
Stocks 696,878 614,824
Debtors 5 11,501 10,354
Cash at bank and in hand 5,181 18,980
713,560 644,158
CREDITORS
Amounts falling due within one year 6 732,178 660,775
NET CURRENT LIABILITIES (18,618 ) (16,617 )
TOTAL ASSETS LESS CURRENT LIABILITIES (12,183 ) (9,045 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (12,185 ) (9,047 )
SHAREHOLDERS' FUNDS (12,183 ) (9,045 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2023 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.

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 30 October 2024 and were signed on its behalf by:





L M Hall - Director


MANOR CREST DEVELOPMENTS LTD (REGISTERED NUMBER: 12358940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 OCTOBER 2022 TO 31 OCTOBER 2023

1. STATUTORY INFORMATION

Manor Crest Developments Ltd is a private company, limited by shares , registered in England and Wales. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Land and work in progress
Land and work in progress are valued at the lower of cost and estimated selling price less cost to sell. Land includes undeveloped land and land under development. Work in progress comprises of direct materials, labour costs, site overheads, associated professional charges and other attributable overheads.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period 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 statement of financial position date.


MANOR CREST DEVELOPMENTS LTD (REGISTERED NUMBER: 12358940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 OCTOBER 2022 TO 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Going concern
During the year ending 31 October 2023, the company sustained a loss of £3,138 (2022: £6,666) and at that date its liabilities exceeded its assets by £12,183 (2022: £9,045), the company's directors intend to support the company and therefore the directors consider it appropriate that these financial statement are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 31 October 2022
and 31 October 2023 8,629
DEPRECIATION
At 31 October 2022 1,057
Charge for period 1,137
At 31 October 2023 2,194
NET BOOK VALUE
At 31 October 2023 6,435
At 30 October 2022 7,572

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 11,501 10,354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 902
Other creditors 732,178 659,873
732,178 660,775

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

MANOR CREST DEVELOPMENTS LTD (REGISTERED NUMBER: 12358940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 OCTOBER 2022 TO 31 OCTOBER 2023

8. RELATED PARTY DISCLOSURES

Included in other creditors is £729,603 (2022: £658,623) due to other companies under the direct control of the directors.