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REGISTERED NUMBER: 04225330 (England and Wales)















MANOR CREST CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 OCTOBER 2022 TO 31 OCTOBER 2023






MANOR CREST CONSTRUCTION LIMITED (REGISTERED NUMBER: 04225330)






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 CONSTRUCTION LIMITED

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







DIRECTORS: L M Hall
D A Wann



SECRETARY: L M Hall



REGISTERED OFFICE: Unit1, The Circus
Belton Park Road,
Lumley Fields
Skegness
Lincolnshire
PE25 1GU



REGISTERED NUMBER: 04225330 (England and Wales)



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



BANKERS: HSBC Bank PLC
49 Lumley Road
Skegness
Lincolnshire
PE25 3LW

MANOR CREST CONSTRUCTION LIMITED (REGISTERED NUMBER: 04225330)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,567 58,153

CURRENT ASSETS
Stocks 323,608 831,863
Debtors 5 12,112,301 11,043,745
Cash at bank 3,937 37,860
12,439,846 11,913,468
CREDITORS
Amounts falling due within one year 6 3,451,545 2,994,002
NET CURRENT ASSETS 8,988,301 8,919,466
TOTAL ASSETS LESS CURRENT LIABILITIES 9,039,868 8,977,619

CREDITORS
Amounts falling due after more than one year 7 (9,025,474 ) (9,059,022 )

PROVISIONS FOR LIABILITIES (12,892 ) (11,049 )
NET ASSETS/(LIABILITIES) 1,502 (92,452 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 1,500 (92,454 )
SHAREHOLDERS' FUNDS 1,502 (92,452 )

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 and authorised for issue 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 CONSTRUCTION LIMITED (REGISTERED NUMBER: 04225330)

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

1. STATUTORY INFORMATION

Manor Crest Construction Limited 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.

Revenue recognition
Turnover represents net invoiced and accrued sales of goods and services, excluding value added tax.

Work in progress of a long term contract nature is recognised in turnover as amounts recoverable on contracts according to the degree of completion of each project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 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.

Work in progress and development costs
Land on hand is valued at the lower of cost and net realisable value. Cost includes all direct expenditure.

Work in progress on developments where there is a confirmed order or sale at the balance sheet date is valued at cost. In accordance with UK GAAP, a proportionate element of the contract value is accounted for as amounts recoverable on contracts within turnover and a proportionate share of anticipated profit is included in the profit and loss account.

Work in progress on developments where there is no confirmed sale of the relevant properties is carried at cost less provision for anticipated losses where considered necessary. No amounts are recognised in turnover.

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.


MANOR CREST CONSTRUCTION LIMITED (REGISTERED NUMBER: 04225330)

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

2. ACCOUNTING POLICIES - continued
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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership of the asset remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31 October 2022 474 3,563 58,648 645 63,330
Additions 2,250 - - - 2,250
At 31 October 2023 2,724 3,563 58,648 645 65,580
DEPRECIATION
At 31 October 2022 41 2,667 2,050 419 5,177
Charge for period 178 135 8,489 34 8,836
At 31 October 2023 219 2,802 10,539 453 14,013
NET BOOK VALUE
At 31 October 2023 2,505 761 48,109 192 51,567
At 30 October 2022 433 896 56,598 226 58,153

The net book value of tangible fixed assets includes £ 44,709 (2022 - £ 52,598 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,866 29,898
Other debtors 12,087,435 11,013,847
12,112,301 11,043,745

MANOR CREST CONSTRUCTION LIMITED (REGISTERED NUMBER: 04225330)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,828 9,586
Hire purchase contracts 8,674 8,674
Trade creditors 512,751 470,304
Taxation and social security 85,409 47,001
Other creditors 2,834,883 2,458,437
3,451,545 2,994,002

Included in other creditors due within one year is £2,198,120 (2022: £1,849,993) due to Manor Crest Homes Limited, the ultimate parent company, controlled by the directors of Manor Crest Construction Limited.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,616 27,687
Hire purchase contracts 35,557 44,231
Other creditors 8,972,301 8,987,104
9,025,474 9,059,022

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 44,231 52,905

The hire purchase contracts are secured on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

Included in other debtors is £12,084,186 (30 October 2022: £11,010,857) due from companies under the direct control of the directors.

Included in other creditors due with in one year is £2,448,420 (30 October 2022: £2,105,113) due to the parent company or companies under the direct control of the directors.

Included in other creditors due after one year is £8,972,301 (30 October 2022: £8,987,104) due to companies under the direct control of the directors.

11. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate holding company is Manor Crest Homes Limited.