Company Registration No. 05171486 (England and Wales)
Management 47 Limited
Unaudited accounts
for the year ended 31 December 2021
Management 47 Limited
Unaudited accounts
Contents
Management 47 Limited
Company Information
for the year ended 31 December 2021
Director
Mr Steven McCready
Company Number
05171486 (England and Wales)
Registered Office
10 Claro Court Business Centre
Claro Road
Harrogate
North Yorkshire
HG1 4BA
United Kingdom
Accountants
John Shackleton & Co Ltd,
10 Claro Court Business Centre
Claro Road
Harrogate
North Yorkshire
HG1 4BA
Management 47 Limited
Statement of financial position
as at 31 December 2021
Investment property
535,000
605,000
Creditors: amounts falling due within one year
(201,996)
(222,706)
Net current liabilities
(201,996)
(222,706)
Total assets less current liabilities
333,004
382,294
Creditors: amounts falling due after more than one year
(525,513)
(598,751)
Net liabilities
(192,509)
(216,457)
Called up share capital
300
300
Revaluation reserve
79,895
69,895
Profit and loss account
(272,704)
(286,652)
Shareholders' funds
(192,509)
(216,457)
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2022 and were signed on its behalf by
Mr Steven McCready
Director
Company Registration No. 05171486
Management 47 Limited
Notes to the Accounts
for the year ended 31 December 2021
Management 47 Limited is a private company, limited by shares, registered in England and Wales, registration number 05171486. The registered office is 10 Claro Court Business Centre, Claro Road, Harrogate, North Yorkshire, HG1 4BA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
The company has historic tax losses available which would offset any tax charges arising from the revaluation of assets included within the account.
Deferred tax assets and liabilities are not discounted.
Turnover during the year includes the rental income arising from its investment properties.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% of Cost
Management 47 Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Computer equipment
Fair value at 1 January 2021
605,000
Net gain from fair value adjustments
10,000
At 31 December 2021
535,000
Investment properties are valued annually at fair value by the Company Director.
If they had not been revalued they would have been included at their historic cost of £455,105.
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
304
304
Loans from directors
200,792
221,502
7
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
410,513
483,751
Other creditors
115,000
115,000
Aggregate of amounts that fall due for payment after five years
525,513
598,751
The bank loans are secured by mortgages over the companies investment properties.
8
Transactions with related parties
Included in other creditors are loan notes bearing interest at 1%, these are held by S McCready.
Management 47 Limited
Notes to the Accounts
for the year ended 31 December 2021
9
Average number of employees
During the year the average number of employees was 1 (2020: 1).
