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REGISTERED NUMBER: 10696819 (England and Wales)











Manxprop Ltd

Financial Statements

for the Year Ended 30 September 2024






Manxprop Ltd (Registered number: 10696819)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Manxprop Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S Westhorpe
P Ligertwood





REGISTERED OFFICE: Unit 2, Kenyon Forge
Kenyon Street
Birmingham
West Midlands
B18 6DH





REGISTERED NUMBER: 10696819 (England and Wales)





AUDITORS: Haines Watts
Chartered Accountants and Statutory Auditors
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Manxprop Ltd (Registered number: 10696819)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 4,398,186 4,398,186

CREDITORS
Amounts falling due within one year 5 7,760 6,860
NET CURRENT LIABILITIES (7,760 ) (6,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,390,426

4,391,326

CAPITAL AND RESERVES
Called up share capital 6 4,398,186 4,398,186
Retained earnings (7,760 ) (6,860 )
SHAREHOLDERS' FUNDS 4,390,426 4,391,326

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





S Westhorpe - Director


Manxprop Ltd (Registered number: 10696819)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Manxprop Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future.

The directors have a reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason, along with the continued support of the directors, wider group and strong associates, they are continuing to adopt the going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Manxprop Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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.

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

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.


Manxprop Ltd (Registered number: 10696819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued
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.

Going concern
The directors have a reasonable expectation that the group and the parent company have adequate resources to continue operations for the foreseeable future such that it can continue to meet its liabilities for a period of not less than twelve months after the date of approval of these financial statements. For this reason, along with the continued support of the directors, they are continuing to adopt the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 4,398,186
NET BOOK VALUE
At 30 September 2024 4,398,186
At 30 September 2023 4,398,186

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Zyox Limited
Registered office: Unit 2, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH
Nature of business: Rental of investment properties
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (1,385,690 ) 616,452
Loss for the year (2,002,142 ) (1,042,785 )

TVCO Limited
Registered office: Unicol House, Green Road, Headington, Oxford, OX3 8EU
Nature of business: Rental of investment properties
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 12,757,634 7,995,355
(Loss)/profit for the year (472,610 ) 543,282

Manxprop Ltd (Registered number: 10696819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. FIXED ASSET INVESTMENTS - continued

Kenyon Forge Management Company Limited *
Registered office: Unit 18, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2 2

Birmingham Swallow Investments Limited *
Registered office: Unit 2, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH
Nature of business: Holding company
%
Class of shares: holding
Ordinary 99.00

Kenyon Forge Limited *
Registered office: Unit 18, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH
Nature of business: Rental of investment properties
%
Class of shares: holding
Ordinary 99.00
2024 2023
£    £   
Aggregate capital and reserves 6,365,870 6,190,450
Profit for the year 175,420 299,738

Megabrokers Limited *
Registered office: Unit 2, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (242,517 ) (242,017 )
Loss for the year (500 ) (656 )

* Indirectly held

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 7,760 6,860

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,398,186 Ordinary £1 4,398,186 4,398,186

Manxprop Ltd (Registered number: 10696819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Butler (Senior Statutory Auditor)
for and on behalf of Haines Watts

8. ULTIMATE CONTROLLING PARTY

The controlling party is P Ligertwood.