Manxguard Limited - Limited company - abbreviated

REGISTERED NUMBER: 01491793 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

FOR

MANXGUARD LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

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

2

45,294

60,392

Investment property

3

4,293,258

4,046,882

4,338,552

4,107,274

CURRENT ASSETS

Stocks

10,627

10,350

Debtors

167,328

205,898

Cash at bank and in hand

29,394

40,577

207,349

256,825

CREDITORS

Amounts falling due within one year

4

171,167

500,359

NET CURRENT ASSETS/(LIABILITIES)

36,182

(243,534

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,374,734

3,863,740

CREDITORS

Amounts falling due after more than one
year

4

1,612,049

1,205,769

NET ASSETS

2,762,685

2,657,971

CAPITAL AND RESERVES

Called up share capital

5

200

Revaluation reserve

918,545

764,672

Profit and loss account

1,843,940

1,893,099

SHAREHOLDERS' FUNDS

2,762,685

2,657,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 March 2015 and were signed on its behalf by:

Mr B J Smith - Director

Mr D I Smith - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

Freehold properties are not depreciated as they are kept in a permanent state of good repair and their estimated

realisable value is not less than cost. Investment properties are valued by the directors and included at open

market value. As no depreciation is provided it contravenes the Companies Act 2006 but adheres to SSAP19

and FRS15.

Stocks

Stocks are car stock 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 transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

138,121

DEPRECIATION

At 1 July 2013

77,729

Charge for year

15,098

At 30 June 2014

92,827

NET BOOK VALUE

At 30 June 2014

45,294

At 30 June 2013

60,392

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 July 2013

4,046,882

Additions

92,503

Revaluations

153,873

At 30 June 2014

4,293,258

NET BOOK VALUE

At 30 June 2014

4,293,258

At 30 June 2013

4,046,882

4.

CREDITORS

Creditors include an amount of £ 1,739,929 (2013 - £ 1,660,419 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary 'A'

£1

100

Ordinary 'B'

£1

100

200

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2014 and

30 June 2013:

2014

2013

£

Mr D I Smith and Mr B J Smith

Balance outstanding at start of year

21,850

19,397

Amounts advanced

-

2,453

Amounts repaid

(21,850

)

-

Balance outstanding at end of year

-

21,850

7.	RELATED PARTY DISCLOSURES

During 2013 the directors loaned Mr I D Smith (father of the directors) £177,841, interest is charged at a

commercial rate of interest and £146,112 was outstanding at the year end and is included in debtors, this is due

for repayment over the next year.

8.	ULTIMATE CONTROLLING PARTY

During the current and preceding year the company was controlled by Mr D and B Smith with joint holdings of

the issued share capital.

Manxguard Limited - Limited company - abbreviated - 11.6

Manxguard Limited - Limited company - abbreviated - 11.6