Manxguard Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01491793 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

MANXGUARD LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D I Smith

Mr B J Smith

SECRETARY:

Mr D I Smith

REGISTERED OFFICE:

23 Yarm Road

Stockton On Tees

TS18 3NJ

REGISTERED NUMBER:

01491793 (England and Wales)

ACCOUNTANTS:

Lyons & Co Ltd

23 Yarm Road

Stockton On Tees

TS18 3NJ

FIXED ASSETS

Tangible assets

4

81,854

102,433

Investment property

5

3,374,342

3,706,223

3,456,196

3,808,656

CURRENT ASSETS

Stocks

408,130

991,722

Debtors

49,334

16,532

Cash at bank and in hand

141,371

131,719

598,835

1,139,973

CREDITORS

Amounts falling due within one year

288,322

250,397

NET CURRENT ASSETS

310,513

889,576

TOTAL ASSETS LESS CURRENT LIABILITIES

3,766,709

4,698,232

CREDITORS

Amounts falling due after more than one year

(732,277

)

(1,891,342

)

PROVISIONS FOR LIABILITIES

7

(170,949

)

(196,865

)

NET ASSETS

2,863,483

2,610,025

CAPITAL AND RESERVES

Called up share capital

200

200

Other reserve

8

702,864

839,267

Retained earnings

2,160,419

1,770,558

SHAREHOLDERS' FUNDS

2,863,483

2,610,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 14 March 2019 and were signed on its behalf by:

Mr B J Smith - Director

Mr D I Smith - Director

1.	STATUTORY INFORMATION

Manxguard 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment properties are valued by the directors and included at open market value. Any excess on cost is taken

to other reserves and any permanent reduction in value over cost is charged to the profit and loss account.

Stocks

Stocks are building material stocks and land and development work in progress. Both are valued at the lower of

cost and net realisable value.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

160,848

Additions

33,504

Disposals

(38,563

)

At 30 June 2018

155,789

DEPRECIATION

At 1 July 2017

58,415

Charge for year

17,532

Eliminated on disposal

(2,012

)

At 30 June 2018

73,935

NET BOOK VALUE

At 30 June 2018

81,854

At 30 June 2017

102,433

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

3,706,223

Disposals

(331,881

)

At 30 June 2018

3,374,342

NET BOOK VALUE

At 30 June 2018

3,374,342

At 30 June 2017

3,706,223

Investment properties have an original cost of £2,670,091 (2016: £3,098,144).

6.	SECURED DEBTS

The following secured debts are included within creditors:

30/6/18

30/6/17

£

£

Bank loans

826,777

2,024,113

All bank loans are secured by a legal charge over several assets of the business. The loans are repayable on a

monthly basis on normal commercial terms.

7.	PROVISIONS FOR LIABILITIES

30/6/18

30/6/17

£

£

Deferred tax

170,949

196,865

Deferred

tax

£

Balance at 1 July 2017

196,865

Provided during year

(25,916

)

Balance at 30 June 2018

170,949

8.

RESERVES

Other

reserve

£

At 1 July 2017

839,267

Movement in year

(136,403

)

At 30 June 2018

702,864

9.	ULTIMATE CONTROLLING PARTY

During the year the company was controlled by Mr D Smith.