IRIS Accounts Production v24.2.0.383 08282806 Board of Directors 31.3.23 30.3.24 30.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082828062023-03-30082828062024-03-30082828062023-03-312024-03-30082828062022-03-31082828062022-04-012023-03-30082828062023-03-3008282806ns15:EnglandWales2023-03-312024-03-3008282806ns14:PoundSterling2023-03-312024-03-3008282806ns10:Director12023-03-312024-03-3008282806ns10:PrivateLimitedCompanyLtd2023-03-312024-03-3008282806ns10:SmallEntities2023-03-312024-03-3008282806ns10:AuditExemptWithAccountantsReport2023-03-312024-03-3008282806ns10:SmallCompaniesRegimeForDirectorsReport2023-03-312024-03-3008282806ns10:SmallCompaniesRegimeForAccounts2023-03-312024-03-3008282806ns10:FullAccounts2023-03-312024-03-3008282806ns10:Director22023-03-312024-03-3008282806ns10:RegisteredOffice2023-03-312024-03-3008282806ns5:CurrentFinancialInstruments2024-03-3008282806ns5:CurrentFinancialInstruments2023-03-3008282806ns5:Non-currentFinancialInstruments2024-03-3008282806ns5:Non-currentFinancialInstruments2023-03-3008282806ns5:ShareCapital2024-03-3008282806ns5:ShareCapital2023-03-3008282806ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3008282806ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3008282806ns5:RetainedEarningsAccumulatedLosses2024-03-3008282806ns5:RetainedEarningsAccumulatedLosses2023-03-3008282806ns5:PlantMachinery2023-03-312024-03-3008282806ns5:FurnitureFittings2023-03-312024-03-3008282806ns5:MotorVehicles2023-03-312024-03-3008282806ns5:ComputerEquipment2023-03-312024-03-3008282806ns5:PlantMachinery2023-03-3008282806ns5:FurnitureFittings2023-03-3008282806ns5:MotorVehicles2023-03-3008282806ns5:ComputerEquipment2023-03-3008282806ns5:PlantMachinery2024-03-3008282806ns5:FurnitureFittings2024-03-3008282806ns5:MotorVehicles2024-03-3008282806ns5:ComputerEquipment2024-03-3008282806ns5:PlantMachinery2023-03-3008282806ns5:FurnitureFittings2023-03-3008282806ns5:MotorVehicles2023-03-3008282806ns5:ComputerEquipment2023-03-3008282806ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3008282806ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-30
REGISTERED NUMBER: 08282806 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 March 2024

for

Many Rooms Limited

Many Rooms Limited (Registered number: 08282806)

Contents of the Financial Statements
for the Year Ended 30 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Many Rooms Limited

Company Information
for the Year Ended 30 March 2024







DIRECTORS: H Smit
G C Smit





REGISTERED OFFICE: 303 Goring Road
Worthing
West Sussex
BN12 4NX





REGISTERED NUMBER: 08282806 (England and Wales)





ACCOUNTANTS: THL Accountancy Ltd
303 Goring Road
Worthing
West Sussex
BN12 4NX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Many Rooms Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Many Rooms Limited for the year ended 30 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Many Rooms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Many Rooms Limited and state those matters that we have agreed to state to the Board of Directors of Many Rooms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Many Rooms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Many Rooms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Many Rooms Limited. You consider that Many Rooms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Many Rooms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






THL Accountancy Ltd
303 Goring Road
Worthing
West Sussex
BN12 4NX


14 November 2024

Many Rooms Limited (Registered number: 08282806)

Balance Sheet
30 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,483 1,978
Investment property 5 2,072,409 2,072,409
2,073,892 2,074,387

CURRENT ASSETS
Debtors 6 10 3,240
Cash at bank and in hand 13,256 62,255
13,266 65,495
CREDITORS
Amounts falling due within one year 7 388,556 499,083
NET CURRENT LIABILITIES (375,290 ) (433,588 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,698,602

1,640,799

CREDITORS
Amounts falling due after more than one
year

8

(1,406,386

)

(1,408,947

)

PROVISIONS FOR LIABILITIES (7,743 ) (7,649 )
NET ASSETS 284,473 224,203

CAPITAL AND RESERVES
Called up share capital 4 4
Non distributable reserves 90,887 90,887
Retained earnings 193,582 133,312
284,473 224,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 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.

Many Rooms Limited (Registered number: 08282806)

Balance Sheet - continued
30 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





H Smit - Director


Many Rooms Limited (Registered number: 08282806)

Notes to the Financial Statements
for the Year Ended 30 March 2024


1. STATUTORY INFORMATION

Many Rooms 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.

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 as modified by the revaluation of certain assets.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Many Rooms Limited (Registered number: 08282806)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31 March 2023
and 30 March 2024 1,576 2,210 5,395 1,074 10,255
DEPRECIATION
At 31 March 2023 1,338 1,954 4,328 657 8,277
Charge for year 60 64 267 104 495
At 30 March 2024 1,398 2,018 4,595 761 8,772
NET BOOK VALUE
At 30 March 2024 178 192 800 313 1,483
At 30 March 2023 238 256 1,067 417 1,978

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023
and 30 March 2024 2,072,409
NET BOOK VALUE
At 30 March 2024 2,072,409
At 30 March 2023 2,072,409

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2020 1,935,000
Valuation in 2021 125,000
Valuation in 2023 12,409
2,072,409

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,956,921 1,956,921

Investment property was valued on an open market basis on 30 March 2023 by the directors .

Many Rooms Limited (Registered number: 08282806)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10 315
Other debtors - 2,925
10 3,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,704 5,395
Trade creditors - 1,668
Taxation and social security 19,373 468
Other creditors 366,479 491,552
388,556 499,083

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,406,386 1,408,947

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,402,773 1,402,307