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REGISTERED NUMBER: 09847775 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Manic Tom Limited

Manic Tom Limited (Registered number: 09847775)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Manic Tom Limited (Registered number: 09847775)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,495 9,994
Investment property 5 1,954,787 1,954,787
1,962,282 1,964,781

CURRENT ASSETS
Stocks 66,380 66,380
Debtors 6 3,647 2,795
Cash at bank 81,422 54,117
151,449 123,292
CREDITORS
Amounts falling due within one year 7 744,050 741,534
NET CURRENT LIABILITIES (592,601 ) (618,242 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,369,681 1,346,539

CREDITORS
Amounts falling due after more than one year 8 1,395,524 1,395,524
NET LIABILITIES (25,843 ) (48,985 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (25,943 ) (49,085 )
SHAREHOLDERS' FUNDS (25,843 ) (48,985 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

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

Manic Tom Limited (Registered number: 09847775)

Balance Sheet - continued
31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





Mr G Hardy - Director


Manic Tom Limited (Registered number: 09847775)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Manic Tom Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09847775

Registered office: C/O STC
Oldmoor Road
Bredbury
Stockport
Cheshire
SK6 2QE

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.

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditors of the company are the shareholders and their related parties who are owed £722,235 (2023 - £722,235). The directors are satisfied that the shareholders are prepared to continue to support the development of the company for the next year.

Turnover
Turnover represents rents received by tenants in the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Any investment property should be revalued at the balance sheet date. However, the directors consider that the values of the properties at 31st October 2024 are not materially different to their cost and that revaluations are not necessary.

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Costs in relation to the property development business are recognised within Work in progress as they are incurred. Once a project has been completed, it is realised either as part of the Company's investment portfolio or as a product for re-sale, depending on the Company's intentions for that specific property.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Manic Tom Limited (Registered number: 09847775)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2023
and 31 October 2024 37,111
DEPRECIATION
At 1 November 2023 27,117
Charge for year 2,499
At 31 October 2024 29,616
NET BOOK VALUE
At 31 October 2024 7,495
At 31 October 2023 9,994

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 November 2023
and 31 October 2024 1,954,787
NET BOOK VALUE
At 31 October 2024 1,954,787
At 31 October 2023 1,954,787

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,647 2,795

Manic Tom Limited (Registered number: 09847775)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 287,938 236,000
Other creditors 456,112 505,534
744,050 741,534

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,395,524 1,395,524

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,395,524 1,395,524

Bridgewater Wharf Ltd hold a legal charge against unit A703 at Bridgewater Wharf, M5 3NG.

Bridgewater Point Ltd hold a fixed charge on units 339, 432, and 436 Bridgewater Point, M5 4TD.

Landbay Partners Limited hold a fixed charge over the land at apartments 603 and 502, Block B, 56 Bury Street, M3 7DA, a fixed charge over the land at apartments 504 and 512, Block A, 54 Bury Street, M3 7FW, and a fixed charge on units 432 and 436 Bridgewater Point, M5 4TD.

Aldermore Bank PLC holds a fixed charge over the properties at 521 Burlington Square, 151 Boundary Lane, M15 6JQ and 339 Bridgewater Point, Worrall Street, M5 4YA.