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Registration number: 04969598

Poundbury (Manco 3) Limited

Annual Report and Unaudited Financial Statements Year Ended 31 December 2024

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Chartered Accountants

 

Poundbury (Manco 3) Limited

Contents

Company Information

1

Accountants' Independent Assurance Report

2

Income and Expenditure Account

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 8

 

Poundbury (Manco 3) Limited

Company Information

Directors

Mr P A L Lacey

Mr G Taylor

Dr A C Wyatt

Mr R W E R James

Mr J D Bowerman

Mr M D Lucas

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Independent Assurance Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Poundbury (Manco 3) Limited
for the Year Ended 31 December 2024

We have reviewed the financial statements of Poundbury (Manco 3) Limited for the year ended 31 December 2024, which comprise the Income and Expenditure Account, the Balance Sheet and the related notes 1 to 7. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard 102 (Section 1A).

This report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter dated 21 February 2025. Our review has been undertaken so that we may state to the company’s directors those matters we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors as a body for our work, for this report or the conclusions we have formed.

Directors’ Responsibility for the Financial Statements
As explained more fully in the Directors’ Responsibilities Statement set out on page , the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants’ Responsibility
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements and ICAEW Technical Release TECH 09/13AAF Assurance review engagements on historical financial statements. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the Assurance Review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

so as to give a true and fair view of the state of the company’s affairs as at 31 December 2024, and of its surplus for the year then ended;

in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

in accordance with the requirements of the Companies Act 2006.






Edwards & Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

27 February 2025

 

Poundbury (Manco 3) Limited

Income and expenditure account
for the Year Ended 31 December 2024

2024
£

2023
£

Turnover

142,015

134,060

Gross surplus

142,015

134,060

Administrative expenses

(115,548)

(118,474)

Other operating income

-

29,000

Operating surplus

26,467

44,586

Other interest receivable and similar income

14,565

2,777

Interest payable and similar expenses

(8)

-

 

14,557

2,777

Surplus before tax

41,024

47,363

Tax on surplus

(2,767)

(528)

Surplus for the financial year

38,257

46,835

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Poundbury (Manco 3) Limited

(Registration number: 04969598)
Balance Sheet as at 31 December 2024

Note

2024
 

2023
 

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

-

 

-

Current assets

   

 

Debtors

5

7,220

 

50,560

 

Cash at bank and in hand

 

486,108

 

380,648

 

   

493,328

 

431,208

Creditors: Amounts falling due within one year

6

 

(47,408)

 

(23,545)

Net current assets

   

445,920

 

407,663

Net assets

   

445,920

 

407,663

Capital and reserves

   

 

Called up share capital

7

815

 

815

 

Repairs reserve

440,000

 

400,000

 

Income and expenditure account

5,105

 

6,848

 

Shareholders' funds

   

445,920

 

407,663

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 



Mr G Taylor
Director

 

Poundbury (Manco 3) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
 

The principal place of business is:
6 Burraton Yard
Dorchester
Dorset
DT1 3GR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax and rebates.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax on investment income only.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Poundbury (Manco 3) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant and Machinery - 5 years

Cash and cash equivalents

Cash and cash equivalents comprises of cash on hand.

Trade debtors

Trade debtors are amounts due from shareholders for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0). The average number of directors on the board during the year, was 6 (2023 - 6).

 

Poundbury (Manco 3) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost

At 1 January 2024

46,132

46,132

At 31 December 2024

46,132

46,132

Depreciation

At 1 January 2024

46,132

46,132

At 31 December 2024

46,132

46,132

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

-

-

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,266

462

Prepayments

892

2,789

Other debtors

5,062

47,309

 

7,220

50,560

 

Poundbury (Manco 3) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

6

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

14,315

8,395

VAT Control account

 

-

1,504

Corporation Tax

 

2,965

722

Accruals and deferred income

 

30,128

12,924

 

47,408

23,545

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

814

814

814

814

'A' share of £1 each

1

1

1

1

 

815

815

815

815

The 'A' share carries enhanced voting rights as a result of which no resolution can be passed in general meeting of the company unless the holder of this share, or his representative, has voted in favour.