Manufax Limited 02790594 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is to be the holding company for Johnson Elevanja Limited and to hold fixed assets used by that company Digita Accounts Production Advanced 6.30.9574.0 true false false 02790594 2023-11-01 2024-10-31 02790594 2024-10-31 02790594 core:RetainedEarningsAccumulatedLosses 2024-10-31 02790594 core:ShareCapital 2024-10-31 02790594 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 02790594 core:LandBuildings 2024-10-31 02790594 core:PlantMachinery 2024-10-31 02790594 bus:SmallEntities 2023-11-01 2024-10-31 02790594 bus:Audited 2023-11-01 2024-10-31 02790594 bus:FullAccounts 2023-11-01 2024-10-31 02790594 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02790594 bus:RegisteredOffice 2023-11-01 2024-10-31 02790594 bus:Director2 2023-11-01 2024-10-31 02790594 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02790594 core:LandBuildings 2023-11-01 2024-10-31 02790594 core:PlantMachinery 2023-11-01 2024-10-31 02790594 1 2023-11-01 2024-10-31 02790594 countries:Canada 2023-11-01 2024-10-31 02790594 countries:England 2023-11-01 2024-10-31 02790594 2023-10-31 02790594 core:CostValuation 2023-10-31 02790594 core:LandBuildings 2023-10-31 02790594 core:PlantMachinery 2023-10-31 02790594 2022-11-01 2023-10-31 02790594 2023-10-31 02790594 core:RetainedEarningsAccumulatedLosses 2023-10-31 02790594 core:ShareCapital 2023-10-31 02790594 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 02790594 core:LandBuildings 2023-10-31 02790594 core:PlantMachinery 2023-10-31 iso4217:GBP xbrli:pure

Company registration number: 02790594

Manufax Limited

Filleted Annual Report and Financial Statements

for the Year Ended 31 October 2024

 

Manufax Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Manufax Limited

(Registration number: 02790594)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

349,009

322,485

Investments

5

2

2

 

349,011

322,487

Current assets

 

Debtors

6

106,206

119,616

Cash at bank and in hand

 

706,075

560,104

 

812,281

679,720

Creditors: Amounts falling due within one year

7

(36,327)

(12,761)

Net current assets

 

775,954

666,959

Total assets less current liabilities

 

1,124,965

989,446

Provisions for liabilities

 

Deferred tax liabilities

 

(50,022)

(42,461)

Net assets

 

1,074,943

946,985

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,074,843

946,885

Total equity

 

1,074,943

946,985

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

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


D Johnson
Director

   
 

Manufax Limited

Notes to the Financial Statements
for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Bath Road
Bridgwater
Somerset
TA6 4YQ

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.

These financial statements are presented in Sterling (£).

Summary of disclosure exemptions

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertaking comprise a small group.

Turnover 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. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

 

Manufax Limited

Notes to the Financial Statements
for the Year Ended 31 October 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

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

Depreciation of tangible assets

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

Freehold property

2% straight line

Plant and machinery

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Manufax Limited

Notes to the Financial Statements
for the Year Ended 31 October 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 profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Reserves

Called up share capital represents the nominal value of shares that have been issued.

Profit and loss account includes all current and prior period profits and losses.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Manufax Limited

Notes to the Financial Statements
for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Plant and machinery
 £

Total
£

Cost or valuation

At 1 November 2023

253,844

556,746

810,590

Additions

-

80,878

80,878

At 31 October 2024

253,844

637,624

891,468

Depreciation

At 1 November 2023

101,538

386,567

488,105

Charge for the year

3,385

50,969

54,354

At 31 October 2024

104,923

437,536

542,459

Carrying amount

At 31 October 2024

148,921

200,088

349,009

At 31 October 2023

152,306

170,179

322,485

Included within the net book value of land and buildings above is £148,921 (2023 - £152,306) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Manufax Limited

Notes to the Financial Statements
for the Year Ended 31 October 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 November 2023

2

Provision

Carrying amount

At 31 October 2024

2

At 31 October 2023

2

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

106,206

50,000

Prepayments

 

-

29,088

Other debtors

 

-

40,528

   

106,206

119,616

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

3,550

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

4,976

Taxation and social security

 

32,092

-

Accruals and deferred income

 

4,235

4,235

 

36,327

12,761

 

Manufax Limited

Notes to the Financial Statements
for the Year Ended 31 October 2024

8

Parent and ultimate parent undertaking

The company's immediate parent is Manufax Holdings Inc, incorporated in Canada.

 

The parent of the largest group in which these financial statements are consolidated is Manufax Holdings Inc, incorporated in Canada.

9

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 July 2025 was Matthew Chandler FCA, who signed for and on behalf of Albert Goodman LLP.