| Mansam Products Limited |
| Notes to the Accounts |
| for the year ended 31 January 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
| |
Plant and machinery |
25% reducing balance method |
|
Motor vehicles |
25% reducing balance method |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 February 2024 |
34,713 |
|
12,682 |
|
47,395 |
|
Additions |
2,124 |
|
- |
|
2,124 |
|
Disposals |
- |
|
(12,682) |
|
(12,682) |
|
At 31 January 2025 |
36,837 |
|
- |
|
36,837 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2024 |
25,270 |
|
12,512 |
|
37,782 |
|
Charge for the year |
2,892 |
|
- |
|
2,892 |
|
On disposals |
- |
|
(12,512) |
|
(12,512) |
|
At 31 January 2025 |
28,162 |
|
- |
|
28,162 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2025 |
8,675 |
|
- |
|
8,675 |
|
At 31 January 2024 |
9,443 |
|
170 |
|
9,613 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 February 2024 |
100 |
|
|
At 31 January 2025 |
100 |
|
|
|
|
|
|
|
|
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
£ |
£ |
|
LSMS Products ( an unlimited company) previously known as Mansam Products( an unlimited company) |
Ordinary |
100 |
|
936,065 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
185,108 |
|
174,617 |
|
Other debtors |
131,862 |
|
110,048 |
|
|
|
|
|
|
316,970 |
|
284,665 |
|
|
|
|
|
|
|
|
|
|
Other debtors is made up £43,343 (2024 - £NIL) due from the director of the company. The loan is unsecured interest free and repayable on demand. The loan was repaid within 9 months of the year end. |
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
132,741 |
|
168,045 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
936,065 |
|
936,065 |
|
Corporation tax |
47,184 |
|
72,418 |
|
Other taxes and social security costs |
64,775 |
|
65,405 |
|
Other creditors |
- |
|
6,657 |
|
|
|
|
|
|
1,180,765 |
|
1,248,590 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr LMJ Stern |
|
Interest free loan repayable on demand |
(6,657) |
|
50,000 |
|
- |
|
43,343 |
|
|
|
(6,657) |
|
50,000 |
|
- |
|
43,343 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
Lease of premises |
|
|
The company leases its premises at a commercial rent from a trust whose trustees include the sole director of Mansam Products Limited. The annual rent is £30,000 per annum. |
|
30,000 |
|
30,000 |
|
|
|
|
|
|
|
|
|
| 9 |
Controlling party |
|
|
The company is controlled by Mr LMJ Stern, the company's sole director, who owns the majority of the issued share capital of the company. |
|
|
| 10 |
Other information |
|
|
Mansam Products Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
49-51 Broughton Lane |
|
Salford |
|
Manchester |
|
M8 9UE |