Company registration number SC187603 (Scotland)
MANSEFIELD INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MANSEFIELD INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
Mr M Patterson
Mrs S Patterson
Mr H Patterson
Company number
SC187603
Registered office
28 Albyn Place
Aberdeen
AB10 1YL
Accountants
AAB
Kingshill View
Prime Four Business Park
Kingswells
Aberdeen
AB15 8PU
MANSEFIELD INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MANSEFIELD INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,702
4,950
Investments
4
7,500
7,500
60,202
12,450
Current assets
Debtors
5
305,934
400,835
Cash at bank and in hand
51,981
51,615
357,915
452,450
Creditors: amounts falling due within one year
6
(263,950)
(518,579)
Net current assets/(liabilities)
93,965
(66,129)
Total assets less current liabilities
154,167
(53,679)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
154,165
(53,681)
Total equity
154,167
(53,679)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on
7 August 2025
07 August 2025
and are signed on its behalf by:
H PATTERSON
Mr H Patterson
Director
Company Registration No. SC187603
MANSEFIELD INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Mansefield Investments Limited is a private company limited by shares incorporated in Scotland. The registered office is 28 Albyn Place, Aberdeen, AB10 1YL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% straight line
Computers
25% straight line
Office equipment
25% straight line
Assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Unlisted investments, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
MANSEFIELD INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
1.9
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Assets under construction
Plant and equipment
Computers
Office equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
-
3,500
13,832
11,273
28,605
Additions
49,408
-
666
-
50,074
At 31 December 2024
49,408
3,500
14,498
11,273
78,679
Depreciation and impairment
At 1 January 2024
-
1,021
11,525
11,109
23,655
Depreciation charged in the year
-
875
1,283
164
2,322
At 31 December 2024
-
1,896
12,808
11,273
25,977
MANSEFIELD INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Tangible fixed assets
Assets under construction
Plant and equipment
Computers
Office equipment
Total
£
£
£
£
£
(Continued)
- 4 -
Carrying amount
At 31 December 2024
49,408
1,604
1,690
-
52,702
At 31 December 2023
-
2,479
2,307
164
4,950
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
7,500
7,500
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,995
6,000
Other debtors
291,537
386,864
Prepayments and accrued income
12,402
7,971
305,934
400,835
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,886
17,784
Taxation and social security
17,129
2,176
Deferred income
6,390
32,004
Other creditors
228,145
464,215
Accruals and deferred income
2,400
2,400
263,950
518,579
7
Related party transactions
During the year, the company made advances to the directors of £236,069. Credits were received of £NIL which resulted in amounts due by the company at the year end of £159,146 (2023: £395,215). The loan is unsecured and interest free with no fixed repayment terms in place.
During the year, a loan of £76,711 due from a company with common directorship was written off.