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REGISTERED NUMBER: 05930706 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Manas Injection Moulding Ltd

Manas Injection Moulding Ltd (Registered number: 05930706)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Manas Injection Moulding Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr S Hall
Mr R J Tithecott





REGISTERED OFFICE: 29 Woodview Road
Torbay Business Park
Paignton
Devon
TQ4 7HP





REGISTERED NUMBER: 05930706 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Manas Injection Moulding Ltd (Registered number: 05930706)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 465,118 452,040

CURRENT ASSETS
Stocks 10,460 29,007
Debtors 81,440 75,971
Cash at bank and in hand 155,385 176,098
247,285 281,076
CREDITORS
Amounts falling due within one year 93,369 152,458
NET CURRENT ASSETS 153,916 128,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

619,034

580,658

CREDITORS
Amounts falling due after more than one
year

6

(164,777

)

(170,855

)

PROVISIONS FOR LIABILITIES (26,155 ) (24,258 )
NET ASSETS 428,102 385,545

CAPITAL AND RESERVES
Called up share capital 9 732 800
Capital redemption reserve 268 200
Retained earnings 427,102 384,545
SHAREHOLDERS' FUNDS 428,102 385,545

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

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

Manas Injection Moulding Ltd (Registered number: 05930706)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:




Mr S Hall - Director



Mr R J Tithecott - Director


Manas Injection Moulding Ltd (Registered number: 05930706)

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


1. STATUTORY INFORMATION

Manas Injection Moulding Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 0% straight line on property nil on land
Plant and machinery - 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

The directors have adopted a policy of depreciating freehold property at a rate of 0% as they believe the expected residual value of each property will be no less than the current market value of each property.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Manas Injection Moulding Ltd (Registered number: 05930706)

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


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Manas Injection Moulding Ltd (Registered number: 05930706)

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


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 560,660
Additions 39,232
At 31 March 2024 599,892
DEPRECIATION
At 1 April 2023 108,620
Charge for year 26,154
At 31 March 2024 134,774
NET BOOK VALUE
At 31 March 2024 465,118
At 31 March 2023 452,040

The directors have adopted a policy of depreciating freehold property at a rate of 0% as they believe the expected residual value of the property will be no less than the current market value of the property.


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans due after 5 years 56,702 77,426

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 7,528 -
Between one and five years 14,428 -
21,956 -

Manas Injection Moulding Ltd (Registered number: 05930706)

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


7. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,847 5,846
Between one and five years 2,727 8,574
8,574 14,420

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 173,526 193,082
Hire purchase contracts 21,956 -
195,482 193,082

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

The hire purchase contracts are secured over the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
732 Ordinary £1 732 800

During the year ended 31 March 2023 the company agreed to repurchase 399 of its own Ordinary £1 shares for a total price of £100,000. The shares are being repurchased in tranches ending 31 March 2026.

At the balance sheet date the company had repurchased 268 (2023 - 200) of these shares with a nominal value of £268 (2023 - £200). The aggregate amount of consideration paid by the company for these shares was £67,168 (2023 - £50,125).

10. OTHER FINANCIAL COMMITMENTS

The company has agreed to repurchase a further 131 of its own Ordinary £1 shares for a total price of £32,832. The shares are being repurchased in tranches ending 31 March 2026.

Manas Injection Moulding Ltd (Registered number: 05930706)

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


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr S Hall
Balance outstanding at start of year 899 -
Amounts advanced 10,578 1,086
Amounts repaid (1,643 ) (187 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,834 899

Mr R J Tithecott
Balance outstanding at start of year - -
Amounts advanced 15,892 -
Amounts repaid (310 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,582 -

The maximum overdrawn balance during the year was £25,664 and the maximum overdrawn balance for any individual director during the year was £15,892.

Interest was charged on loans that exceeded £10,000 during the year at the official interest rate.

12. RELATED PARTY DISCLOSURES

During the year ended 31 March 2023 the company agreed to repurchase 399 of its own Ordinary £1 shares for a total price of £100,000. The shares are being repurchased in tranches ending 31 March 2026.

At the balance sheet date the company had repurchased 268 (2023 - 200) of these shares with a nominal value of £268 (2023 - £200). The aggregate amount of consideration paid by the company for these shares was £67,168 (2023 - £50,125).