Manc Housing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10973059 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2020 to 31 March 2022

for

Manc Housing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Fine

G A J Horne

D A Searle

D A Shaw

REGISTERED OFFICE:

FFT Reedham House

31 King Street West

Manchester

M3 2PJ

BUSINESS ADDRESS:

Progress Centre

Charlton Place

Manchester

M12 6HS

REGISTERED NUMBER:

10973059 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

-

30,549

Investment property

5

110,000

3,550,000

110,000

3,580,549

CURRENT ASSETS

Debtors

6

106,834

117,170

Cash at bank

823,852

4,175

930,686

121,345

CREDITORS

Amounts falling due within one year

7

198,206

1,329,681

NET CURRENT ASSETS/(LIABILITIES)

732,480

(1,208,336

)

TOTAL ASSETS LESS CURRENT LIABILITIES

842,480

2,372,213

CREDITORS

Amounts falling due after more than one year

8

-

(1,607,450

)

PROVISIONS FOR LIABILITIES

(6,079

)

(143,796

)

NET ASSETS

836,401

620,967

CAPITAL AND RESERVES

Called up share capital

200

200

Revaluation reserve

10

-

613,025

Retained earnings

836,201

7,742

SHAREHOLDERS' FUNDS

836,401

620,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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 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 by the Board of Directors and authorised for issue on 30 March 2023 and were signed on its behalf by:

D A Shaw - Director

D A Searle - Director

1.	STATUTORY INFORMATION

Manc Housing 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 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 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.

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern

The company's financial statements for the period ended 31 March 2022 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2020

41,324

Disposals

(41,324

)

At 31 March 2022

-

DEPRECIATION

At 1 October 2020

10,775

Eliminated on disposal

(10,775

)

At 31 March 2022

-

NET BOOK VALUE

At 31 March 2022

-

At 30 September 2020

30,549

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2020

3,550,000

Disposals

(3,460,000

)

Revaluations

20,000

At 31 March 2022

110,000

NET BOOK VALUE

At 31 March 2022

110,000

At 30 September 2020

3,550,000

Fair value at 31 March 2022 is represented by:

£

Valuation in 2019

6,992

Valuation in 2020

5,000

Valuation in 2022

20,000

Cost

78,008

110,000

If investment property had not been revalued it would have been included at the following historical cost:

2022

2020

£

£

Cost

78,008

2,793,179

Investment properties was valued on an open market basis on 31 March 2022 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2020

£

£

Trade debtors

19,751

45,451

Amounts owed by group undertakings

42,435

-

Amounts owed by associates

41,064

38,748

Other debtors

3,584

32,971

106,834

117,170

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2020

£

£

Bank loans and overdrafts

-

19,527

Amounts owed to group undertakings

-

1,293,168

Taxation and social security

194,606

31

Other creditors

3,600

16,955

198,206

1,329,681

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2020

£

£

Bank loans

-

1,607,450

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2020

£

£

Bank loans

-

1,626,977

Owed to group undertakings

-

1,293,168

-

2,920,145

10.

RESERVES

Revaluation

reserve

£

At 1 October 2020

613,025

Transfer

(613,025

)

At 31 March 2022

-

11.	RELATED PARTY DISCLOSURES

During the year, interest amounting to £174,596 (2020: £172,060) has been charged by the parent company in respect of the balance owed.

Included within debtors is a balance amounting to £1,366 (2020: £1,366) due from a company in which certain directors of the company are also directors and shareholders. There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.

12.	ULTIMATE PARENT COMPANY