REGISTERED NUMBER: 08451197 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Macmanus Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M A Mayock

REGISTERED OFFICE:

Unit 10 Monks Brook Industrial Park

School Close

Chandlers Ford

Hampshire

SO53 4RA

REGISTERED NUMBER:

08451197 (England and Wales)

AUDITORS:

Harold Sharp Limited

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

FIXED ASSETS

Tangible assets

4

675,823

793,567

CURRENT ASSETS

Stocks

1,570,130

1,570,130

Debtors

5

1,913,028

1,395,328

Cash at bank

397,756

80,804

3,880,914

3,046,262

CREDITORS

Amounts falling due within one year

6

842,482

552,391

NET CURRENT ASSETS

3,038,432

2,493,871

TOTAL ASSETS LESS CURRENT LIABILITIES

3,714,255

3,287,438

CREDITORS

Amounts falling due after more than one year

7

(1,717,532

)

(1,175,059

)

PROVISIONS FOR LIABILITIES

8

(141,763

)

(169,463

)

NET ASSETS

1,854,960

1,942,916

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,854,860

1,942,816

SHAREHOLDERS' FUNDS

1,854,960

1,942,916

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

M A Mayock - Director

1.	STATUTORY INFORMATION

Macmanus Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

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" and the Companies Act 2006.

The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.

Related party exemption

Advantage has been taken of exemption available under the terms of Financial Reporting Standard 102 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

When cash inflows are deferred and represent a financial agreement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and reward of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The state of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

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 of valuation of assets less their residual values over their useful lives on the following bases:

Plant and Machinery - 25% Reducing balance

Fixtures and Fittings - 25% Reducing balance

Motor Vehicles - 25% Reducing balance

Computer Equipment - 25% Reducing balance

The gain or loss arising on the disposal of any 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amotised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amotised cost, using the effective interest rate method.

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

Other financial liabilities

Debt instruments that do not meet the conditions in the FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 borrowing in current liabilities.

Leases

Rental payable under operating leases, including any lease incentives received, are charged to income on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has considered relevant information, including the company's principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the director has concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

1,145,251

814,317

3,602

1,963,170

Additions

14,995

154,278

-

169,273

Disposals

-

(109,318

)

-

(109,318

)

At 31 March 2025

1,160,246

859,277

3,602

2,023,125

DEPRECIATION

At 1 April 2024

608,082

558,446

3,075

1,169,603

Charge for year

135,929

77,568

132

213,629

Eliminated on disposal

-

(35,930

)

-

(35,930

)

At 31 March 2025

744,011

600,084

3,207

1,347,302

NET BOOK VALUE

At 31 March 2025

416,235

259,193

395

675,823

At 31 March 2024

537,169

255,871

527

793,567

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

89,470

65,296

Amounts owed by group undertakings

366,502

221,603

Other debtors

1,457,056

1,108,429

1,913,028

1,395,328

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

65,940

Hire purchase contracts

191,220

189,517

Trade creditors

13,327

10,709

Amounts owed to group undertakings

25,000

65,101

Taxation and social security

99,288

104,792

Other creditors

513,647

116,332

842,482

552,391

The amounts owed for hire purchase commitments are secured by charges over the assets concerned.

The Proplend loan is secured by a debenture with Macmanus Limited and a freehold 1st legal charge on Mayles Farm, Mayles Lane, Wickham. Interest is charged at 11.70%.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,430,000

718,094

Hire purchase contracts

287,532

456,965

1,717,532

1,175,059

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

454,334

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

141,763

169,463

Deferred

tax

£

Balance at 1 April 2024

169,463

Provided during year

(27,700

)

Balance at 31 March 2025

141,763

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Frederick Norman (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

11.	RELATED PARTY DISCLOSURES

At 31 March 2025, the company was owed £1,036,455 (2024 - £976,455) by Macra Limited, a company ultimately controlled by M. A. Mayock.

12.	ULTIMATE CONTROLLING PARTY

The parent company is Macon Limited, a company incorporated in England and Wales. The Registered Office of Macon Limited is Unit 10 Monks Brook, Industrial Estate, Chandlers Ford, Hampshire SO53 4RA.