Company No: SC293542 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	0		168
Investments	5	9,475,623		8,658,837
		9,475,623		8,659,005
Current assets
Debtors	6	82,171		152,984
Cash at bank and in hand		907,732		535,260
		989,903		688,244
Creditors: amounts falling due within one year	7	( 324,946)		( 154,366)
Net current assets		664,957		533,878
Total assets less current liabilities		10,140,580		9,192,883
Net assets		10,140,580		9,192,883
Capital and reserves
Called-up share capital	8	200		200
Fair value reserve		201,753		( 88,640 )
Profit and loss account		9,938,627		9,281,323
Total shareholders' funds		10,140,580		9,192,883

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Manorcove Limited (registered number: SC293542) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

David West Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Manorcove Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Braemhor, Macduff Road, Gardenstown, AB45 3YJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the provision of labour services and is recognised when the service is provided during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Other property, plant and equipment	10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	18,000		18,000
At 31 December 2024	18,000		18,000
Accumulated amortisation
At 01 January 2024	18,000		18,000
At 31 December 2024	18,000		18,000
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Tangible assets

	Plant and machinery		Other property, plant and equipment		Total
	£		£		£
Cost
At 01 January 2024	395		24,239		24,634
Disposals	0		( 24,239)		( 24,239)
At 31 December 2024	395		0		395
Accumulated depreciation
At 01 January 2024	395		24,071		24,466
Charge for the financial year	0		167		167
Disposals	0		( 24,238)		( 24,238)
At 31 December 2024	395		0		395
Net book value
At 31 December 2024	0		0		0
At 31 December 2023	0		168		168

5. Fixed asset investments

	Investments in associates		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2024	25		8,658,812		8,658,837
Additions	0		706,393		706,393
Movement in fair value	0		290,393		290,393
Drawings	0		( 180,000)		( 180,000)
At 31 December 2024	25		9,475,598		9,475,623
Carrying value at 31 December 2024	25		9,475,598		9,475,623
Carrying value at 31 December 2023	25		8,658,812		8,658,837

6. Debtors

	2024		2023
	£		£
Amounts owed by associates	0		38,965
Amounts owed by related parties	1,560		1,560
Corporation tax	32,059		0
Other debtors	48,552		112,459
	82,171		152,984

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	2,186		151
Taxation and social security	318,260		149,563
Other creditors	4,500		4,652
	324,946		154,366

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2024		2023
	£		£
Amounts owed to company	0		38,965

The amount owed has been paid off within the financial year.

Transactions with the entity's directors

	2024		2023
	£		£
Directors' loan account - amounts owed (from)/to company	23,614		20,314

The amount above is interest free and there are no fixed terms of repayment.

Other related party transactions

During the year, services totalling £319,050 (2023 £258,120) and profits of £706,393 (2023 - £654,817) were provided to/received from a connected party.