2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 166,485 15,238 181,723 27,879 18,172 46,051 135,672 138,606 xbrli:pure xbrli:shares iso4217:GBP 03742704 2023-04-01 2024-03-31 03742704 2024-03-31 03742704 2023-03-31 03742704 2022-04-01 2023-03-31 03742704 2023-03-31 03742704 2022-03-31 03742704 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 03742704 core:PlantMachinery 2023-04-01 2024-03-31 03742704 core:MotorVehicles 2023-04-01 2024-03-31 03742704 bus:Director1 2023-04-01 2024-03-31 03742704 bus:Director2 2023-04-01 2024-03-31 03742704 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 03742704 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 03742704 core:PlantMachinery 2023-03-31 03742704 core:MotorVehicles 2023-03-31 03742704 core:PlantMachinery 2024-03-31 03742704 core:MotorVehicles 2024-03-31 03742704 core:WithinOneYear 2024-03-31 03742704 core:WithinOneYear 2023-03-31 03742704 core:AfterOneYear 2024-03-31 03742704 core:AfterOneYear 2023-03-31 03742704 core:ShareCapital 2024-03-31 03742704 core:ShareCapital 2023-03-31 03742704 core:RetainedEarningsAccumulatedLosses 2024-03-31 03742704 core:RetainedEarningsAccumulatedLosses 2023-03-31 03742704 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 03742704 core:PlantMachinery 2023-03-31 03742704 core:MotorVehicles 2023-03-31 03742704 bus:Director2 2023-03-31 03742704 bus:Director2 2024-03-31 03742704 bus:Director2 2022-03-31 03742704 bus:Director2 2023-03-31 03742704 bus:Director2 2022-04-01 2023-03-31 03742704 bus:SmallEntities 2023-04-01 2024-03-31 03742704 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03742704 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03742704 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03742704 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 03742704
Manley Talks Limited
Filleted Unaudited Financial Statements
31 March 2024
Manley Talks Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
135,672
138,606
Tangible assets
6
21,311
25,071
---------
---------
156,983
163,677
Current assets
Debtors
7
92,316
134,988
Cash at bank and in hand
8,289
31,147
---------
---------
100,605
166,135
Creditors: amounts falling due within one year
8
181,448
186,663
---------
---------
Net current liabilities
80,843
20,528
---------
---------
Total assets less current liabilities
76,140
143,149
Creditors: amounts falling due after more than one year
9
28,683
42,478
--------
---------
Net assets
47,457
100,671
--------
---------
Capital and reserves
Called up share capital
5
5
Profit and loss account
47,452
100,666
--------
---------
Shareholders funds
47,457
100,671
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Manley Talks Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 11 March 2025 , and are signed on behalf of the board by:
Mrs C Hopkinson
Director
Company registration number: 03742704
Manley Talks Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets represent development costs capitalised in respect of the company's online learning product. Costs are only capitalised where the technical feasibility and commercial viability of the product can be demonstrated and where it is probable that future economic benefits will be generated.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Development costs
£
Cost
At 1 April 2023
166,485
Additions
Additions from internal developments
15,238
---------
At 31 March 2024
181,723
---------
Amortisation
At 1 April 2023
27,879
Charge for the year
18,172
---------
At 31 March 2024
46,051
---------
Carrying amount
At 31 March 2024
135,672
---------
At 31 March 2023
138,606
---------
6. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
54,990
20,995
75,985
Additions
3,343
3,343
--------
--------
--------
At 31 March 2024
58,333
20,995
79,328
--------
--------
--------
Depreciation
At 1 April 2023
38,776
12,138
50,914
Charge for the year
4,889
2,214
7,103
--------
--------
--------
At 31 March 2024
43,665
14,352
58,017
--------
--------
--------
Carrying amount
At 31 March 2024
14,668
6,643
21,311
--------
--------
--------
At 31 March 2023
16,214
8,857
25,071
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
13,387
51,880
Other debtors
78,929
83,108
--------
---------
92,316
134,988
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,127
10,127
Trade creditors
7,282
2,607
Corporation tax
129,586
112,700
Social security and other taxes
13,880
39,100
Other creditors
20,573
22,129
---------
---------
181,448
186,663
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,942
32,068
Other creditors
6,741
10,410
--------
--------
28,683
42,478
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Hopkinson
75,932
256,257
( 260,000)
72,189
--------
---------
---------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Hopkinson
90,174
215,249
( 229,491)
75,932
--------
---------
---------
--------
Interest at the official rate has been charged on this loan and the loan has since been repaid.
11. Related party transactions
The company was under the control of Mr M Hopkinson throughout the current and previous year. Mr Hopkinson is the managing director and majority shareholder.