Poundbury (Manco 2) Limited 03568444 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is The company is responsible for the management of some communal areas of the Poundbury development adjoining Dorchester in Dorset Digita Accounts Production Advanced 6.30.9574.0 true 03568444 2024-01-01 2024-12-31 03568444 2024-12-31 03568444 bus:Director22 2024-12-31 03568444 bus:Director23 2024-12-31 03568444 bus:Director5 2024-12-31 03568444 bus:Director9 2024-12-31 03568444 bus:OrdinaryShareClass1 2024-12-31 03568444 bus:OrdinaryShareClass2 2024-12-31 03568444 core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 03568444 core:RetainedEarningsAccumulatedLosses 2024-12-31 03568444 core:ShareCapital 2024-12-31 03568444 core:FinancialAssetsCostLessImpairment 2024-12-31 03568444 core:CurrentFinancialInstruments 2024-12-31 03568444 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03568444 core:PlantMachinery 2024-12-31 03568444 core:OtherProvisionsContingentLiabilities 2024-12-31 03568444 bus:SmallEntities 2024-01-01 2024-12-31 03568444 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03568444 bus:FullAccounts 2024-01-01 2024-12-31 03568444 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03568444 bus:RegisteredOffice 2024-01-01 2024-12-31 03568444 bus:Director14 2024-01-01 2024-12-31 03568444 bus:Director18 2024-01-01 2024-12-31 03568444 bus:Director19 2024-01-01 2024-12-31 03568444 bus:Director20 2024-01-01 2024-12-31 03568444 bus:Director21 2024-01-01 2024-12-31 03568444 bus:Director22 2024-01-01 2024-12-31 03568444 bus:Director23 2024-01-01 2024-12-31 03568444 bus:Director5 2024-01-01 2024-12-31 03568444 bus:Director9 2024-01-01 2024-12-31 03568444 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 03568444 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 03568444 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03568444 bus:Agent1 2024-01-01 2024-12-31 03568444 core:FurtherSpecificReserve1ComponentTotalEquity 2024-01-01 2024-12-31 03568444 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03568444 core:ShareCapital 2024-01-01 2024-12-31 03568444 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 03568444 core:PlantMachinery 2024-01-01 2024-12-31 03568444 core:OtherProvisionsContingentLiabilities 2024-01-01 2024-12-31 03568444 countries:EnglandWales 2024-01-01 2024-12-31 03568444 2023-12-31 03568444 core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 03568444 core:RetainedEarningsAccumulatedLosses 2023-12-31 03568444 core:ShareCapital 2023-12-31 03568444 core:PlantMachinery 2023-12-31 03568444 core:OtherProvisionsContingentLiabilities 2023-12-31 03568444 2023-01-01 2023-12-31 03568444 2023-12-31 03568444 bus:OrdinaryShareClass1 2023-12-31 03568444 bus:OrdinaryShareClass2 2023-12-31 03568444 core:FinancialAssetsCostLessImpairment 2023-12-31 03568444 core:CurrentFinancialInstruments 2023-12-31 03568444 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03568444 core:FurtherSpecificReserve1ComponentTotalEquity 2023-01-01 2023-12-31 03568444 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03568444 core:ShareCapital 2023-01-01 2023-12-31 03568444 2022-12-31 03568444 core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 03568444 core:RetainedEarningsAccumulatedLosses 2022-12-31 03568444 core:ShareCapital 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03568444

Poundbury (Manco 2) Limited

Annual Report and Unaudited Financial Statements Year Ended 31 December 2024

image-name

Chartered Accountants

 

Poundbury (Manco 2) Limited

Contents

Company Information

1

Directors' Report

2

Chartered Accountants' Independent Assurance Report

3

Income and Expenditure Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

Poundbury (Manco 2) Limited

Company Information

Directors

J G Carr

P A L Lacey

N Ghauri

G C Standring

J D Bowerman

D C Soden

T L Hannan

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

 

Poundbury (Manco 2) Limited

Directors' Report
for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

J B Graves (ceased 15 January 2024)

M Bodell (ceased 15 May 2024)

J G Carr

P A L Lacey

N Ghauri

G C Standring

J D Bowerman

D C Soden (appointed 17 July 2024)

T L Hannan (appointed 17 July 2024)

Principal activity

The company is responsible for the management of some communal areas of the Poundbury development adjoining Dorchester in Dorset

Statement of directors responsibilities

The directors acknowledge their responsibilities for preparing the Directors Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has 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.

Approved by the Board on 17 March 2025 and signed on its behalf by:


G C Standring
Director

 

Chartered Accountants' Independent Assurance Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Poundbury (Manco 2) Limited
for the Year Ended 31 December 2024

We have reviewed the financial statements of Poundbury (Manco 2) Limited for the year ended 31 December 2024, which comprise the Income and Expenditure Account, the Balance Sheet and the related notes 1 to 10. 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 2, 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/(deficit) 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

17 March 2025

 

Poundbury (Manco 2) Limited

Income and Expenditure Account
for the Year Ended 31 December 2024

Note

2024

2023

   

£

£

£

£

Income

   

252,225

 

185,091

Expenses

   

(180,915)

 

(187,487)

Operating surplus/(deficit)

   

71,310

 

(2,396)

(Loss)/gain on financial assets at fair value through income and expenditure account

 

(569)

 

24,135

 

Investment income

 

21,093

 

9,891

 
     

20,524

 

34,026

Surplus before tax

4

 

91,834

 

31,630

Taxation

   

(288)

 

(80)

Surplus for the financial year

   

91,546

 

31,550

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 2) Limited

(Registration number: 03568444)
Balance Sheet as at 31 December 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

5

 

-

 

233

Investments

6

 

612,278

 

392,789

   

612,278

 

393,022

Current assets

   

 

Debtors

7

9,579

 

10,067

 

Cash at bank and in hand

 

159,790

 

279,900

 

 

169,369

 

289,967

 

Creditors: Amounts falling due within one year

8

(33,163)

 

(31,110)

 

Net current assets

   

136,206

 

258,857

Total assets less current liabilities

   

748,484

 

651,879

Provisions for liabilities

 

(30,000)

 

(25,000)

Net assets

   

718,484

 

626,879

Capital and reserves

   

 

Called up share capital

9

1,519

 

1,460

 

Management and maintenance reserve

675,000

 

600,000

 

Income and expenditure account

41,965

 

25,419

 

Total equity

   

718,484

 

626,879

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.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 



J G Carr
Director

 

Poundbury (Manco 2) Limited

Statement of Changes in Equity
for the Year Ended 31 December 2024

Share capital
£

Management and maintenance reserve
£

Income and expenditure account
£

Total
£

At 1 January 2024

1,460

600,000

25,419

626,879

Surplus for the year

-

-

91,546

91,546

New share capital subscribed

59

-

-

59

Transfers

-

75,000

(75,000)

-

At 31 December 2024

1,519

675,000

41,965

718,484

Share capital
£

Management and maintenance reserve
£

Income and expenditure account
£

Total
£

At 1 January 2023

1,335

575,000

18,869

595,204

Surplus for the year

-

-

31,550

31,550

New share capital subscribed

125

-

-

125

Transfers

-

25,000

(25,000)

-

At 31 December 2023

1,460

600,000

25,419

626,879

 

Poundbury (Manco 2) 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
England

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 sale of goods and provision of services in the ordinary course of the company’s activities, and is shown net of VAT.

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 statement of financial position 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. Street light upgrade costs have been charged as expenditure in the year in which they were incurred.

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:

Asset class

Depreciation method and rate

Satellite TV system upgrade

5 years straight line basis

 

Poundbury (Manco 2) Limited

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the income and expenditure account. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Trade debtors

Trade debtors are amounts due from residents 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 from suppliers.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation of tangible fixed assets

233

1,150

 

Poundbury (Manco 2) Limited

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

5

Tangible assets

Satellite TV system upgrade
£

Total
£

Cost

At 1 January 2024

39,065

39,065

At 31 December 2024

39,065

39,065

Depreciation

At 1 January 2024

38,832

38,832

Charge for the year

233

233

At 31 December 2024

39,065

39,065

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

233

233

6

Investments

Managed Portfolio
£

Total
£

Fixed asset investments

Valuation

At 1 January 2024

392,789

392,789

Additions

340,788

340,788

Fair value adjustments

(569)

(569)

Disposals

(120,730)

(120,730)

At 31 December 2024

612,278

612,278

Carrying amount

At 31 December 2024

612,278

612,278

At 31 December 2023

392,789

392,789

 

Poundbury (Manco 2) Limited

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

7

Debtors

Current

2024
£

2023
£

Trade debtors

6,005

2,765

Prepayments and accrued income

519

2,743

Other debtors

3,055

4,559

 

9,579

10,067

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

17,782

16,362

Other creditors

 

410

1,536

Accruals and deferred income

 

14,603

13,132

Corporation tax

368

80

 

33,163

31,110

9

Provisions values

Other provisions
£

Total
£

At 1 January 2024

25,000

25,000

Increase in existing provisions

5,000

5,000

At 31 December 2024

30,000

30,000

A provision of £30,000 (2023 : £25,000) has been included in the accounts to reflect unbilled courtyard electricity.

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,518

1,518

1,459

1,459

'A' shares of £1 each

1

1

1

1

 

1,519

1,519

1,460

1,460

59 additional ordinary shares were allotted during the year at par.

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.