| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended |
| 31 December 2024 |
| for |
| Manston Investments Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended |
| 31 December 2024 |
| for |
| Manston Investments Limited |
| Manston Investments Limited (Registered number: 02967920) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| Manston Investments Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Charnwood House |
| Harcourt Way |
| Meridian Business Park |
| Leicester |
| Leicestershire |
| LE19 1WP |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Manston Investments Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Manston Investments Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Manston Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Manston Investments Limited and state those matters that we have agreed to state to the Board of Directors of Manston Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Manston Investments Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Manston Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Manston Investments Limited. You consider that Manston Investments Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Manston Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Charnwood House |
| Harcourt Way |
| Meridian Business Park |
| Leicester |
| Leicestershire |
| LE19 1WP |
| Manston Investments Limited (Registered number: 02967920) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium |
| Revaluation reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Manston Investments Limited (Registered number: 02967920) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Manston Investments Limited (Registered number: 02967920) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Manston Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable for services net of VAT. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| 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. |
| 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. |
| Freehold property |
| Freehold properties are included at valuation and are reviewed on an annual basis. |
| Manston Investments Limited (Registered number: 02967920) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| Impairments | 1,707 | - | - | 1,707 |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Manston Investments Limited (Registered number: 02967920) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 December 2024 is represented by: |
| Freehold property | Plant and machinery | Fixtures and fittings | Totals |
| £ | £ | £ | £ |
| Cumulative revaluation | 7,782,454 | - | - | 7,782,454 |
| Cost | 15,037,546 | 533,410 | 40,446 | 15,611,402 |
| 22,820,000 | 533,410 | 40,446 | 23,393,856 |
| If freehold property had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Historical cost | 15,931,814 | 17,016,814 |
| Less estimated impairments | (894,268 | ) | (1,260,975 | ) |
| 15,037,546 | 15,755,839 |
| Freehold properties are re-valued annually by the Board of Directors on an open-market basis, making use of the 'net yield' approach. This is a change to the previous approach which made use of 'gross yield'. Whilst both approaches are widely adopted in the market, the board is of the opinion that 'net yield' is a more robust approach to adequately judging likely market value of a freehold. The board were advised on arriving at their re-valuations by a consultant with significant experience within the commercial property & valuation profession - although these are not 'red book' valuations. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| Manston Investments Limited (Registered number: 02967920) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 71,801 | 48,769 |
| Other creditors |
| Rent deposits | 146,560 | 136,810 |
| Directors' current accounts | 1,280 | 1,298 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more than 5 years by instalments |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years by instalments |
3,592,381 |
436,876 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Bank loans |
| Svenka Handelsbanken Ab (Publ) has a fixed charge over selected properties and a floating charge over all property and assets. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | 1.00 | 3,268 | 3,268 |
| Manston Investments Limited (Registered number: 02967920) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | RESERVES |
| Revaluation reserve |
| £ |
| At 1 January 2024 | 6,216,630 |
| Transfer from retained earnings | 1,131,557 |
| At 31 December 2024 | 7,348,187 |
| 11. | COMMITMENTS |
| The company has operating lease commitments at the year end of £63,293 (2023 - £97,329). |