Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22023-06-01falseInvestment Income2truetruefalse 07990257 2023-06-01 2024-05-31 07990257 2022-06-01 2023-05-31 07990257 2024-05-31 07990257 2023-05-31 07990257 c:Director1 2023-06-01 2024-05-31 07990257 d:CurrentFinancialInstruments 2024-05-31 07990257 d:CurrentFinancialInstruments 2023-05-31 07990257 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07990257 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07990257 d:ShareCapital 2024-05-31 07990257 d:ShareCapital 2023-05-31 07990257 d:RevaluationReserve 2023-06-01 2024-05-31 07990257 d:RevaluationReserve 2024-05-31 07990257 d:RevaluationReserve 2023-05-31 07990257 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 07990257 d:RetainedEarningsAccumulatedLosses 2024-05-31 07990257 d:RetainedEarningsAccumulatedLosses 2023-05-31 07990257 c:FRS102 2023-06-01 2024-05-31 07990257 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07990257 c:FullAccounts 2023-06-01 2024-05-31 07990257 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07990257 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 07990257 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 07990257 2 2023-06-01 2024-05-31 07990257 5 2023-06-01 2024-05-31 07990257 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 07990257









MANOR41 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
MANOR41 LIMITED
REGISTERED NUMBER: 07990257

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
-
84,000

Current asset investments
 6 
633,799
574,664

Cash at bank and in hand
 7 
234,474
250,582

  
868,273
909,246

Creditors: amounts falling due within one year
 8 
(5,727)
(45,355)

Net current assets
  
 
 
862,546
 
 
863,891

Total assets less current liabilities
  
862,546
863,891

Provisions for liabilities
  

Deferred tax
  
(6,814)
-

  
 
 
(6,814)
 
 
-

Net assets
  
855,732
863,891


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
 10 
20,442
(5,682)

Profit and loss account
 10 
835,190
869,473

  
855,732
863,891


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


C P Carter
Director
Page 1

 
MANOR41 LIMITED
REGISTERED NUMBER: 07990257
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


Date: 19 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MANOR41 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Manor41 Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MANOR41 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
MANOR41 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
 

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less
Page 5

 
MANOR41 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Debtors

2024
2023
£
£


Other debtors
-
84,000
Page 6

 
MANOR41 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.Debtors (continued)


-
84,000



6.


Current asset investments

2024
2023
£
£

Listed investments
633,799
574,664

633,799
574,664



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
234,474
250,582

234,474
250,582



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
5,727
24,362

Other creditors
-
20,993

5,727
45,355


Page 7

 
MANOR41 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024


£






Charged to profit or loss
(6,814)



At end of year
(6,814)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Tax on unrealised gains
(6,814)
-

(6,814)
-


10.


Reserves

Revaluation reserve

The balance in the fair value reserve arises from the restatement of current asset investments to market value at the balance sheet date.

Profit & loss account

The profit and loss account represents the distributable reserves of the company.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £nil (2023: £13,200).


12.


Related party transactions

Manor41 Limited was a corporate member of Scotch Partners LLP until 30 November 2022. Included in other debtors is an amount due from the LLP of £nil (2023: £84,000).
Included in other creditors there is a Directors loan of £nil 
(2023: £20,993) provided to the company. Interest of 0% is paid on this loan and it is repayable on demand.

 
Page 8