Registration number:
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D.M.& P Manheim (Peter Manheim) Ltd
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D.M.& P Manheim (Peter Manheim) Ltd
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
D.M.& P Manheim (Peter Manheim) Ltd
Company Information
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Directors |
J M Manheim L E Manheim V H Manheim |
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Registered office |
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Accountants |
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D.M.& P Manheim (Peter Manheim) Ltd
Statement of Financial Position as at 31 July 2024
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Note |
2024 |
2023 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Retained earnings |
6,701 |
24,452 |
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Shareholders' funds |
6,901 |
24,652 |
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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V H Manheim
Director
Company registration number: 01359862
D.M.& P Manheim (Peter Manheim) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of that of dealing in fine porcelain.
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Accounting policies |
Summary of significant accounting policies
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.
Going concern
The company had net assets of £6,901 at 31 July 2024 including cash at bank of £16,321.
The company has few fixed overheads and no financial commitments. The company has stock of fine porcelain with a market value significantly in excess of cost and the directors believe it remains largely unaffected by changes in the economic environment.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of antiques in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue from the sale of porcelain works when the company transfers the risks and rewards of ownership to the customer.
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.
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:
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Asset class |
Depreciation method and rate |
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Furniture, fittings and equipment |
25% straight line |
D.M.& P Manheim (Peter Manheim) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
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Staff numbers |
The average number of persons employed by the company during the year, was
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Debtors |
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2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Trade creditors |
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- |
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Accruals and deferred income |
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Other creditors |
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