Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseNo description of principal activity2023-05-0122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08248542 2023-05-01 2024-04-30 08248542 2022-05-01 2023-04-30 08248542 2024-04-30 08248542 2023-04-30 08248542 c:Director1 2023-05-01 2024-04-30 08248542 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 08248542 d:Buildings d:ShortLeaseholdAssets 2024-04-30 08248542 d:Buildings d:ShortLeaseholdAssets 2023-04-30 08248542 d:FurnitureFittings 2023-05-01 2024-04-30 08248542 d:FurnitureFittings 2024-04-30 08248542 d:FurnitureFittings 2023-04-30 08248542 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08248542 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08248542 d:CurrentFinancialInstruments 2024-04-30 08248542 d:CurrentFinancialInstruments 2023-04-30 08248542 d:Non-currentFinancialInstruments 2024-04-30 08248542 d:Non-currentFinancialInstruments 2023-04-30 08248542 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08248542 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08248542 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 08248542 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 08248542 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 08248542 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 08248542 d:ShareCapital 2024-04-30 08248542 d:ShareCapital 2023-04-30 08248542 d:RetainedEarningsAccumulatedLosses 2024-04-30 08248542 d:RetainedEarningsAccumulatedLosses 2023-04-30 08248542 c:FRS102 2023-05-01 2024-04-30 08248542 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08248542 c:FullAccounts 2023-05-01 2024-04-30 08248542 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08248542 2 2023-05-01 2024-04-30 08248542 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 08248542 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 08248542 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 08248542









MANN ENTERPRISES LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
MANN ENTERPRISES LTD
REGISTERED NUMBER: 08248542

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
                                                                      Note
£
£

Fixed assets
  

Intangible assets
  
-
59,000

Tangible assets
 4 
127,306
117,660

  
127,306
176,660

Current assets
  

Stocks
 5 
2,286,311
1,376,456

Debtors: amounts falling due within one year
 6 
2,747,812
2,705,145

Cash at bank and in hand
  
388,823
774,542

  
5,422,946
4,856,143

Creditors: amounts falling due within one year
 7 
(3,358,276)
(3,134,447)

Net current assets
  
 
 
2,064,670
 
 
1,721,696

Total assets less current liabilities
  
2,191,976
1,898,356

Creditors: amounts falling due after more than one year
 8 
-
(64,597)

Provisions for liabilities
  

Deferred tax
  
(15,923)
(14,298)

Net assets
  
2,176,053
1,819,461


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
2,176,043
1,819,451

  
2,176,053
1,819,461


Page 1

 
MANN ENTERPRISES LTD
REGISTERED NUMBER: 08248542
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 27 January 2025.




J S Mann
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Mann Enterprises Limited ("the Company") operates as an online seller of computer kits and components. The Company is a private company limited by shares and incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of income and retained earnings within 'administrative expenses'.

Page 3

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.7

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 4

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

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.


 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following annual bases:

Short term leasehold property
-
25% reducing balance
Fixtures & fittings
-
25% 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 the Statement of income and retained earnings.

 
2.11

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. 
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 the Statement of income and retained earnings.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

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


4.


Tangible fixed assets





Short term leasehold property improvements
Fixtures and fittings
Total

£
£
£



Cost


At 1 May 2023
129,392
185,996
315,388


Additions
-
43,412
43,412



At 30 April 2024

129,392
229,408
358,800



Depreciation


At 1 May 2023
86,983
110,745
197,728


Charge for the year on owned assets
10,602
23,164
33,766



At 30 April 2024

97,585
133,909
231,494



Net book value



At 30 April 2024
31,807
95,499
127,306



At 30 April 2023
42,409
75,251
117,660


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
2,286,311
1,376,456

2,286,311
1,376,456


Page 7

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
165,497
79,865

Other debtors
2,409,330
2,486,953

Prepayments and accrued income
172,985
138,327

2,747,812
2,705,145



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
490,720

Trade creditors
48,098
77,808

Amounts owed to group undertakings
1,985,213
1,590,183

Corporation tax
486,180
168,875

Other taxation and social security
120,670
34,054

Other creditors
425,277
506,095

Accruals and deferred income
292,838
266,712

3,358,276
3,134,447



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
64,597

-
64,597


The bank loan is secured personally by the directors and by the parent company, Mann Enterprises Holdings Limited.

Page 8

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
490,720


-
490,720

Amounts falling due 1-2 years

Bank loans
-
64,597

-
64,597




The bank loan is secured personally by the directors and by the parent company, Mann Enterprises Holdings Limited.


10.


Deferred taxation




2024


£






At beginning of year
(14,298)


Charged to profit or loss
(1,625)



At end of year
(15,923)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(15,923)
(14,298)

(15,923)
(14,298)

Page 9

 
MANN ENTERPRISES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

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 £5,470 (2023 - £3,320). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

At the end of the period, key management personnel was owed by the company £878 (2023 - £96,661) shown in other creditors due within one year.
Key management personnel had an interest in dividends paid during the period of £500,000 
(2023 - £500,000).
At the year end, the Company's parent undertaking owed the Company £1,874,243 
(2023 - £1,565,243).
At the year end, the Company's fellow subsidiary owed the Company £110,970 
(2023 - £24,940).
At the year end, the Company was owed by a connected company under common control £2,409,330 
(2023 - £2,486,953).


13.


Ultimate parent undertaking and controlling party

Mr J Mann is deemed to be the Company's controlling party by virtue of his majority shareholding in the Company's parent company, Mann Enterprises Holdings Limited, a company incorporated in England and Wales. 

 
Page 10