REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
MANHEATH LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
MANHEATH LIMITED |
MANHEATH LIMITED (REGISTERED NUMBER: 11101948) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MANHEATH LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MANHEATH LIMITED (REGISTERED NUMBER: 11101948) |
ABRIDGED BALANCE SHEET |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Work in progress |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MANHEATH LIMITED (REGISTERED NUMBER: 11101948) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Manheath Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements have been prepared on a going concern basis, which the directors consider to be appropriate, as they have agreed to provide the necessary finance to enable the company to meet its liabilities as they fall due. |
Turnover |
Turnover represents the amounts receivable from the sale of properties during the year and other income directly associated with property development, excluding value added tax during the year. |
Turnover is recognised when contracts are exchanged and building work is complete. |
Work in progress |
Work in progress comprises property development costs and is valued at the lower of cost or estimated selling price. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
Taxation |
Taxation for the year comprises current 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. |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits. |
Current tax assets and liabilities are not discounted and are 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - |
4. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
A fixed and floating charge over the freehold property known as Elm Cottage was created on 13 January 2022 by Close Brothers Limited to secure all monies due or becoming due. The charge also contains a negative pledge over the property. |
MANHEATH LIMITED (REGISTERED NUMBER: 11101948) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2022 |
5. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |