Company No: 10386229 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	0		172,229
		0		172,229
Current assets
Cash at bank and in hand		3,320		9,076
		3,320		9,076
Creditors: amounts falling due within one year	4	( 5,659)		( 5,830)
Net current (liabilities)/assets		(2,339)		3,246
Total assets less current liabilities		(2,339)		175,475
Creditors: amounts falling due after more than one year	5	( 500)		( 178,687)
Net liabilities		( 2,839)		( 3,212)
Capital and reserves
Called-up share capital		2		2
Profit and loss account		( 2,841 )		( 3,214 )
Total shareholders' deficit		( 2,839)		( 3,212)

For the financial year ending 30 September 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Machan Group Limited (registered number: 10386229) were approved and authorised for issue by the Board of Directors on 30 June 2023. They were signed on its behalf by:

Mr M Machan Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Machan Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Pest House Bedlam Street, Hurstpierpoint, Hassocks, BN6 9EW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 October 2021	172,174		1,082		173,256
Disposals	( 172,174)		( 233)		( 172,407)
At 30 September 2022	0		849		849
Accumulated depreciation
At 01 October 2021	0		1,027		1,027
Charge for the financial year	0		13		13
Disposals	0		( 191)		( 191)
At 30 September 2022	0		849		849
Net book value
At 30 September 2022	0		0		0
At 30 September 2021	172,174		55		172,229

4. Creditors: amounts falling due within one year

	2022		2021
	£		£
Corporation tax	395		294
Other creditors	5,264		5,536
	5,659		5,830

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

	2022		2021
	£		£
Bank loans	0		119,987
Other creditors	500		58,700
	500		178,687

There are no amounts included above in respect of which any security has been given by the small entity.