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Unaudited Financial Statements |
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for the Year Ended 28 February 2017 |
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for |
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Manazel Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2017 |
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for |
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Manazel Ltd |
Manazel Ltd (Registered number: 08902468) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Manazel Ltd |
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Company Information |
for the Year Ended 28 February 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Manazel Ltd (Registered number: 08902468) |
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Balance Sheet |
28 February 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Manazel Ltd (Registered number: 08902468) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2017 |
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1. | STATUTORY INFORMATION |
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Manazel Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on the going concern basis as the Directors have introduced funds into the |
company and these funds will not be withdrawn until profits are being made, which is expected to be the case |
once the repair work has been completed. |
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Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing |
basis are measured at fair value annually with an change recognised in the profit and loss account. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Rental income |
Rental income is recognised when entitlement has passed to the company and the amount of income can be |
measured reliably. Rental income is measured at the fair value of the consideration received or receivable. |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2016 |
and 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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The property was purchased in 2015, with various improvements costs added since purchase. The directors |
consider that costs currently reflect fair value. |
Manazel Ltd (Registered number: 08902468) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | ULTIMATE CONTROLLING PARTY |
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Mr P Sagar and Mrs R Sagar are the ultimate controlling parties. |
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7. | FIRST YEAR ADOPTION |
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These accounts are the first prepared under FRS 102. No transitional adjustments were required. |
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