MANOR ROAD LONDON LIMITED Company accounts

MANOR ROAD LONDON LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10221371

MANOR ROAD LONDON LIMITED

Unaudited Financial Statements

30 June 2022

MANOR ROAD LONDON LIMITED

Financial Statements

Year ended 30 June 2022

Contents	Page

Directors' report	1

Income statement	2

Statement of financial position	3

Notes to the financial statements	5

MANOR ROAD LONDON LIMITED

Directors' Report

Year ended 30 June 2022

The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2022 .

Directors

The directors who served the company during the year were as follows:

Mr R Spitzer
Mrs E Spitzer

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 26 April 2023 and signed on behalf of the board by:

Mr R Spitzer

Director

Registered office:

New Burlington House

1075 Finchley Road

London

NW11 0PU

MANOR ROAD LONDON LIMITED

Income Statement

Year ended 30 June 2022

	2022	2021
Note	£	£
Turnover	261,667	226,710

Cost of sales	( 35,423)	( 57,954)
	----------	----------
Gross profit	226,244	168,756

Administrative expenses	( 80,531)	( 157,998)
Net valuation gain on investment property	–	41
	----------	----------
Operating profit	145,713	10,799

Interest payable and similar expenses	5	( 844)	–
		----------	----------
Profit before taxation		144,869	10,799

Tax on profit	( 27,526)	( 2,052)
	----------	---------
Profit for the financial year	117,343	8,747
	----------	---------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

MANOR ROAD LONDON LIMITED

Statement of Financial Position

30 June 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Investment property	6		4,088,738		4,049,000

Current assets

Debtors	7	61,494	11,867
Cash at bank and in hand		281,587	172,812
		----------	----------
		343,081	184,679

Creditors: amounts falling due within one year	8	( 1,160,518)		( 1,069,917)
		-------------		-------------
Net current liabilities			( 817,437)		( 885,238)
			-------------		-------------
Total assets less current liabilities			3,271,301		3,163,762

Creditors: amounts falling due after more than one year	9	( 40,196)	( 50,000)
		-------------	-------------
Net assets		3,231,105	3,113,762
		-------------	-------------

Capital and reserves

Called up share capital	10,400	10,400
Share premium account	2,714,179	2,714,179
Profit and loss account	506,526	389,183
	-------------	-------------
Shareholders funds	3,231,105	3,113,762
	-------------	-------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MANOR ROAD LONDON LIMITED

Statement of Financial Position (continued)

30 June 2022

These financial statements were approved by the board of directors and authorised for issue on 26 April 2023 , and are signed on behalf of the board by:

Mr R Spitzer

Director

Company registration number: 10221371

MANOR ROAD LONDON LIMITED

Notes to the Financial Statements

Year ended 30 June 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the Income Statement represents amounts of rental income and service charges invoiced during the period. Costs of Sales The costs of sales are recognised in the Statement of Income Statement in the year in which they are incurred.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investment properties

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and - No depreciation is provided in respect of investment properties applying the fair value model. Investment property fair value is determined by the Directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition.

Impairment of 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2021: 3 ).

5. Interest payable and similar expenses

	2022	2021
	£	£
Other interest payable and similar charges	844	–
	----	----

6. Investment property

	Investment property
	£
Valuation
At 1 July 2021	4,049,000
Additions	39,738
	-------------
At 30 June 2022	4,088,738
	-------------
Carrying amount
At 30 June 2022	4,088,738
	-------------
At 30 June 2021	4,049,000
	-------------

7. Debtors

	2022	2021
	£	£
Trade debtors	31,362	11,867
Other debtors	30,132	–
	---------	---------
	61,494	11,867
	---------	---------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	27,527	2,053
Social security and other taxes	6,907	–
Other creditors	1,126,084	1,067,864
	-------------	-------------
	1,160,518	1,069,917
	-------------	-------------

9. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	40,196	50,000
	---------	---------

10. Controlling party

The entire Share Capital is owned by the directors who have ultimate control of the company.