Caseware UK (AP4) 2023.0.135 2023.0.135 6No description of principal activity32022-12-01falsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05625688 2022-12-01 2023-11-30 05625688 2021-12-01 2022-11-30 05625688 2023-11-30 05625688 2022-11-30 05625688 c:Director1 2022-12-01 2023-11-30 05625688 d:Buildings 2022-12-01 2023-11-30 05625688 d:Buildings 2023-11-30 05625688 d:Buildings 2022-11-30 05625688 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05625688 d:LandBuildings 2023-11-30 05625688 d:LandBuildings 2022-11-30 05625688 d:PlantMachinery 2022-12-01 2023-11-30 05625688 d:PlantMachinery 2023-11-30 05625688 d:PlantMachinery 2022-11-30 05625688 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05625688 d:MotorVehicles 2022-12-01 2023-11-30 05625688 d:MotorVehicles 2023-11-30 05625688 d:MotorVehicles 2022-11-30 05625688 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05625688 d:FurnitureFittings 2022-12-01 2023-11-30 05625688 d:FurnitureFittings 2023-11-30 05625688 d:FurnitureFittings 2022-11-30 05625688 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05625688 d:OfficeEquipment 2022-12-01 2023-11-30 05625688 d:OfficeEquipment 2023-11-30 05625688 d:OfficeEquipment 2022-11-30 05625688 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05625688 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05625688 d:CurrentFinancialInstruments 2023-11-30 05625688 d:CurrentFinancialInstruments 2022-11-30 05625688 d:Non-currentFinancialInstruments 2023-11-30 05625688 d:Non-currentFinancialInstruments 2022-11-30 05625688 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05625688 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 05625688 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 05625688 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 05625688 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 05625688 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 05625688 d:ShareCapital 2023-11-30 05625688 d:ShareCapital 2022-11-30 05625688 d:RevaluationReserve 2023-11-30 05625688 d:RevaluationReserve 2022-11-30 05625688 d:RetainedEarningsAccumulatedLosses 2023-11-30 05625688 d:RetainedEarningsAccumulatedLosses 2022-11-30 05625688 c:FRS102 2022-12-01 2023-11-30 05625688 c:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05625688 c:FullAccounts 2022-12-01 2023-11-30 05625688 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05625688 2 2022-12-01 2023-11-30 05625688 5 2022-12-01 2023-11-30 05625688 6 2022-12-01 2023-11-30 05625688 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 05625688










Manyweathers Properties Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 November 2023

 
Manyweathers Properties Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Manyweathers Properties Limited for the year ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Manyweathers Properties Limited for the year ended 30 November 2023 which comprise  the Balance sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Manyweathers Properties Limited, as a body, in accordance with the terms of our engagement letter dated 17 October 2023Our work has been undertaken solely to prepare for your approval the financial statements of Manyweathers Properties Limited and state those matters that we have agreed to state to the Board of directors of Manyweathers Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Manyweathers Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Manyweathers Properties 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 Manyweathers Properties Limited. You consider that Manyweathers Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Manyweathers Properties 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Canterbury
29 November 2024
Page 1

 
Manyweathers Properties Limited
Registered number: 05625688

Balance sheet
As at 30 November 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
480,063
849,332

Investments
 5 
4,965,000
3,585,000

  
5,445,063
4,434,332

Current assets
  

Stocks
 6 
200,500
279,257

Debtors: amounts falling due within one year
 7 
31,970
35,333

Cash at bank and in hand
 8 
370,609
862,644

  
603,079
1,177,234

Creditors: amounts falling due within one year
 9 
(140,591)
(635,296)

Net current assets
  
 
 
462,488
 
 
541,938

Total assets less current liabilities
  
5,907,551
4,976,270

Creditors: amounts falling due after more than one year
 10 
(197,502)
(197,502)

Provisions for liabilities
  

Deferred tax
  
(400,952)
(543,731)

  
 
 
(400,952)
 
 
(543,731)

Net assets
  
5,309,097
4,235,037


Capital and reserves
  

Called up share capital 
  
50
50

Revaluation reserve
  
263,000
263,000

Profit and loss account
  
5,046,047
3,971,987

  
5,309,097
4,235,037


Page 2

 
Manyweathers Properties Limited
Registered number: 05625688

Balance sheet (continued)
As at 30 November 2023

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 29 November 2024.




G C Manyweathers
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

1.


General information

Manyweathers Properties Limited is a private company limited by shares and is incorporated in England with registration number 05625688.  The registered office address of the company is 1 Maple Leaf, Business Park, Ramsgate, Kent, CT12 5GD.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

Page 4

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
15%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
6
3

Page 7

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 December 2022
696,317
215,735
110,239
3,800
7,997
1,034,088


Disposals
(346,317)
-
-
-
-
(346,317)



At 30 November 2023

350,000
215,735
110,239
3,800
7,997
687,771



Depreciation


At 1 December 2022
-
135,741
42,538
2,114
4,363
184,756


Charge for the year on owned assets
-
11,999
10,155
253
545
22,952



At 30 November 2023

-
147,740
52,693
2,367
4,908
207,708



Net book value



At 30 November 2023
350,000
67,995
57,546
1,433
3,089
480,063



At 30 November 2022
696,317
79,994
67,701
1,686
3,634
849,332




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
350,000
696,317

350,000
696,317



5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 December 2022
3,585,000


Additions
318,302


Revaluations
1,061,698



At 30 November 2023
4,965,000




Page 8

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

6.


Stocks

2023
2022
£
£

Raw materials and consumables
200,500
279,257

200,500
279,257



7.


Debtors

2023
2022
£
£


Trade debtors
-
10,963

Other debtors
31,970
24,370

31,970
35,333



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
370,609
862,644

370,609
862,644



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,285
477,790

Corporation tax
13,215
58,429

Other taxation and social security
3,969
1,289

Other creditors
103,522
93,088

Accruals and deferred income
2,600
4,700

140,591
635,296



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
197,502
197,502

197,502
197,502


Page 9

 
Manyweathers Properties Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
197,502
197,502


197,502
197,502



197,502
197,502



Page 10