Manor Homes (Yorkshire) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01840477 (England and Wales)

MANOR HOMES (YORKSHIRE) LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2019 TO 30 JUNE 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

P J Pearson

Ms M T Cheriton-Metcalfe

M I Brown

SECRETARIES:

M I Brown

J L Flintham

REGISTERED OFFICE:

The Old Coach House

Gainsborough Road

Drinsey Nook

Lincoln

Lincolnshire

LN1 2JJ

REGISTERED NUMBER:

01840477 (England and Wales)

SENIOR STATUTORY AUDITOR:

Timothy Godson FCA

AUDITORS:

Duncan & Toplis Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

9,073

280,826

CURRENT ASSETS

Stocks

1,645,498

2,241,069

Debtors

5

2,563,474

129,766

Cash at bank and in hand

48,719

43,629

4,257,691

2,414,464

CREDITORS

Amounts falling due within one year

6

5,449,059

3,440,338

NET CURRENT LIABILITIES

(1,191,368

)

(1,025,874

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,182,295

)

(745,048

)

CAPITAL AND RESERVES

Called up share capital

7

200,891

200,013

Retained earnings

(1,383,186

)

(945,061

)

SHAREHOLDERS' FUNDS

(1,182,295

)

(745,048

)

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 and authorised for issue by the Board of Directors and authorised for issue on 20 January 2021 and were signed on its behalf by:

P J Pearson - Director

1.	STATUTORY INFORMATION

Manor Homes (Yorkshire) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

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.

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 etc

-

25% on cost

No depreciation is charged on freehold property on the grounds of immateriality. Freehold property is subject to regular maintenance and repair such that in the opinion of the directors the residual value is not materially different from the value in the financial statements and has a long useful economic life. The directors consider the need for impairment at each period end.

Impairment or fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, as estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group if assets that included the asset and generates cash inflows that largely independent of the cash inflows from other assets or group assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income statement in the period to which they relate.

Going concern

Whilst the statement of financial position continues to show an overall deficit, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The largest creditor balance is due to United Health Ltd, the previous parent company and the directors have received confirmation of continued financial support from United Health Limited and it's new parent Manor Homes Property Company Limited. In addition, the stock retained is expected to realise amounts in excess of the accumulated losses to date when sold on the open market. For these reasons, the directors consider that it is appropriate to prepare the accounts on the going concern basis.

Following the impact of COVID-19, the financial statements have been prepared on a going concern basis, on

the understanding that the directors and shareholders will continue to financially support the company during

this uncertain period

Rental income

Rental income is recognised over the period to which it relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2019

240,000

98,452

338,452

Additions

600,000

72,320

672,320

Disposals

(840,000

)

(126,349

)

(966,349

)

At 30 June 2020

-

44,423

44,423

DEPRECIATION

At 1 February 2019

-

57,626

57,626

Charge for period

-

39,112

39,112

Eliminated on disposal

-

(61,388

)

(61,388

)

At 30 June 2020

-

35,350

35,350

NET BOOK VALUE

At 30 June 2020

-

9,073

9,073

At 31 January 2019

240,000

40,826

280,826

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

2,295,620

-

Other debtors

267,854

129,766

2,563,474

129,766

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

65,799

53,988

Amounts owed to group undertakings

-

3,332,471

Taxation and social security

7,625

6,251

Other creditors

5,375,635

47,628

5,449,059

3,440,338

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

20,089,120

Ordinary

£0.01

200,891

200,013

87,820 Ordinary shares of £0.01 each were allotted and fully paid for cash at par during the period.

On 30 June 2020 the company amended the ordinary share capital from £1 nominal value of each share to £0.01 nominal value fo each share. This in turn resulted in the number of shares issued going from 200,013 to 20,001,300 before the share issue on the same day.

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

The Report of the Auditors was unqualified.

Timothy Godson FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Limited, Statutory Auditor

9.	CONTINGENCIES

The company is a party to a composite cross guarantee given to the HSBC Bank Plc between United Health Limited, Manor Homes (Yorkshire) Limited, United Health Group Limited, Barford Children's Services Limited, Creative Care & Therapy Limited, United Children's Services Limited (formerly United Health (Medicare) Limited, United Health Group 2 Limited, United Education Services Limited and Manor Homes Property Company Limited.

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Manor Homes Property Company Limited. Manor Homes Property Company Limited is ultimately controlled by the shareholders.