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REGISTERED NUMBER: 04611524 (England and Wales)














Unaudited Financial Statements

for the Year Ended 27 February 2024

for

Manifold Commercials Limited

Manifold Commercials Limited (Registered number: 04611524)






Contents of the Financial Statements
for the Year Ended 27 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Manifold Commercials Limited (Registered number: 04611524)

Balance Sheet
27 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,781 38,372
34,781 38,372

CURRENT ASSETS
Stocks - 3,333
Debtors 6 303,491 334,083
Cash at bank 1,923 304
305,414 337,720
CREDITORS
Amounts falling due within one year 7 84,788 114,667
NET CURRENT ASSETS 220,626 223,053
TOTAL ASSETS LESS CURRENT LIABILITIES 255,407 261,425

CREDITORS
Amounts falling due after more than one year 8 (91,380 ) (93,807 )

PROVISIONS FOR LIABILITIES - (936 )
NET ASSETS 164,027 166,682

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 164,026 166,681
164,027 166,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2024 and were signed by:



Mr J Wain - Director


Manifold Commercials Limited (Registered number: 04611524)

Notes to the Financial Statements
for the Year Ended 27 February 2024

1. STATUTORY INFORMATION

Manifold Commercials 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: 04611524

Registered office: Manifold House, Waterhouses
Stoke On Trent
Staffordshire
ST10 3JS

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully written-off over its useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Workshop - 4% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Manifold Commercials Limited (Registered number: 04611524)

Notes to the Financial Statements - continued
for the Year Ended 27 February 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 28 February 2023
and 27 February 2024 30,000
AMORTISATION
At 28 February 2023
and 27 February 2024 30,000
NET BOOK VALUE
At 27 February 2024 -
At 27 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
Workshop machinery vehicles Totals
£    £    £    £   
COST
At 28 February 2023
and 27 February 2024 65,155 97,390 15,350 177,895
DEPRECIATION
At 28 February 2023 31,709 93,616 14,198 139,523
Charge for year 2,606 755 230 3,591
At 27 February 2024 34,315 94,371 14,428 143,114
NET BOOK VALUE
At 27 February 2024 30,840 3,019 922 34,781
At 27 February 2023 33,446 3,774 1,152 38,372

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,000 40,000
Other debtors 263,491 294,083
303,491 334,083

Manifold Commercials Limited (Registered number: 04611524)

Notes to the Financial Statements - continued
for the Year Ended 27 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,985 8,985
Trade creditors 6,472 -
Taxation and social security 1,308 3,122
Other creditors 68,023 102,560
84,788 114,667

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 91,380 93,807

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 55,440 57,867

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 100,365 102,792

The loan is secured by fixed and floating charges over present and future property, goodwill, buildings, fixtures, plant and machinery.