Manivannan Properties Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10854393 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

MANIVANNAN PROPERTIES LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Manivannan

Dr K Manivannan

REGISTERED OFFICE:

161 Hempstead Road

Hempstead

Gillingham

Kent

ME7 3QG

REGISTERED NUMBER:

10854393 (England and Wales)

ACCOUNTANTS:

The Carley Partnership

St James's House

8 Overcliffe

Gravesend

Kent

DA11 0HJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Manivannan Properties Ltd for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Manivannan Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Manivannan Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Manivannan Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Manivannan Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Manivannan Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Manivannan Properties Ltd. You consider that Manivannan Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Manivannan Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Carley Partnership

St James's House

8 Overcliffe

Gravesend

Kent

DA11 0HJ

14 March 2024

FIXED ASSETS

Investment property

4

510,000

504,531

CURRENT ASSETS

Cash at bank

2,504

1,281

CREDITORS

Amounts falling due within one year

5

161,931

159,136

NET CURRENT LIABILITIES

(159,427

)

(157,855

)

TOTAL ASSETS LESS CURRENT LIABILITIES

350,573

346,676

CREDITORS

Amounts falling due after more than one year

6

353,995

357,780

NET LIABILITIES

(3,422

)

(11,104

)

CAPITAL AND RESERVES

Called up share capital

7

200

200

Fair value reserve

8

2,188

(3,281

)

Retained earnings

(5,810

)

(8,023

)

SHAREHOLDERS' FUNDS

(3,422

)

(11,104

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 11 March 2024 and were signed on its behalf by:

Dr K Manivannan - Director

1.	STATUTORY INFORMATION

Manivannan Properties Ltd 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.

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 year 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 year 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 accounts are prepared on a going concern basis as the directors have agreed not to demand repayment of their loan account until the company is in a position to do so.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2022

504,531

Revaluations

5,469

At 31 July 2023

510,000

NET BOOK VALUE

At 31 July 2023

510,000

At 31 July 2022

504,531

As of the balance sheet date the investment properties have been valued by the directors at fair value based on current market conditions.

Fair value at 31 July 2023 is represented by:

£

Valuation in 2021

217,575

Valuation in 2022

2,425

Valuation in 2023

5,469

Cost

284,531

510,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

161,931

159,136

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

353,995

357,780

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

289,184

310,876

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

200

Ordinary

£1

200

200

8.

RESERVES

Fair

value

reserve

£

At 1 August 2022

(3,281

)

revaluation

5,469

At 31 July 2023

2,188