Manorlink Limited Filleted accounts for Companies House (small and micro)

0 5 April 2024 false false false false false false false false false false true false false false false true true false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,075,221 16,650 28,350 1,120,221 1,120,221 1,075,221 xbrli:pure xbrli:shares iso4217:GBP SC221658 2022-10-01 2023-09-30 SC221658 2023-09-30 SC221658 2022-09-30 SC221658 2021-10-01 2022-09-30 SC221658 2022-09-30 SC221658 2021-09-30 SC221658 bus:Director1 2022-10-01 2023-09-30 SC221658 core:LandBuildings 2022-10-01 2023-09-30 SC221658 core:WithinOneYear 2023-09-30 SC221658 core:WithinOneYear 2022-09-30 SC221658 core:AfterOneYear 2023-09-30 SC221658 core:AfterOneYear 2022-09-30 SC221658 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 SC221658 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 SC221658 core:ShareCapital 2023-09-30 SC221658 core:ShareCapital 2022-09-30 SC221658 core:RevaluationReserve 2023-09-30 SC221658 core:RevaluationReserve 2022-09-30 SC221658 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC221658 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC221658 core:LandBuildings 2023-09-30 SC221658 core:LandBuildings 2022-09-30 SC221658 core:LandBuildings 2022-09-30 SC221658 bus:SmallEntities 2022-10-01 2023-09-30 SC221658 bus:Audited 2022-10-01 2023-09-30 SC221658 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 SC221658 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC221658 bus:FullAccounts 2022-10-01 2023-09-30 SC221658 core:OtherRelatedParties 2022-10-01 2023-09-30

COMPANY REGISTRATION NUMBER: SC221658

Manorlink Limited

Filleted Financial Statements

30 September 2023

Manorlink Limited

Financial Statements

Year ended 30 September 2023

Contents	Page

Directors' responsibilities statement	1

Statement of financial position	2

Notes to the financial statements	3

Manorlink Limited

Directors' Responsibilities Statement

Year ended 30 September 2023

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Manorlink Limited

Statement of Financial Position

30 September 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	4		1,120,221	1,075,221

Current assets

Debtors	5	1,885	–
Cash at bank and in hand		4,764	12,775
		-------	--------
		6,649	12,775

Creditors: amounts falling due within one year	6	690,130		673,104
		---------		---------
Net current liabilities			683,481	660,329
			------------	------------
Total assets less current liabilities			436,740	414,892

Creditors: amounts falling due after more than one year	7	164,955	184,336
		---------	---------
Net assets		271,785	230,556
		---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Non distributable reserve	201,486	173,136
Profit and loss account	60,299	47,420
	---------	---------
Shareholders funds	271,785	230,556
	---------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:

Mr A Morton

Director

Company registration number: SC221658

Manorlink Limited

Notes to the Financial Statements

Year ended 30 September 2023

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Venlaw, 349 Bath Street, Glasgow, G2 4AA.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Securigroup Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises rental income receivable in the period.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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. Tangible assets

	Land and buildings
	£
Cost or valuation
At 1 October 2022	1,075,221
Additions	16,650
Revaluations	28,350
	------------
At 30 September 2023	1,120,221
	------------
Carrying amount
At 30 September 2023	1,120,221
	------------
At 30 September 2022	1,075,221
	------------

Desktop valuations for the investment properties were provided by a firm of professional chartered surveyors at September 2023.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 30 September 2023
Aggregate cost	918,735
Aggregate depreciation	–
	---------
Carrying value	918,735
	---------

At 30 September 2022
Aggregate cost	902,085
Aggregate depreciation	–
	---------
Carrying value	902,085
	---------

5. Debtors

	2023	2022
	£	£
Other debtors	1,885	–
	-------	----

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	28,256	21,854
Amounts owed to group undertakings and undertakings in which the company has a participating interest	657,193	646,404
Corporation tax	3,492	4,321
Other creditors	1,189	525
	---------	---------
	690,130	673,104
	---------	---------

The bank loans are secured by a bond and floating charge over the assets of the company and also by Standard Securities held over each of the properties held by the company.

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

	2023	2022
	£	£
Bank loans and overdrafts	164,955	184,336
	---------	---------

8. Summary audit opinion

The auditor's report dated 5 April 2024 was unqualified .

The senior statutory auditor was Alan Woods , for and on behalf of Gilliland & Company .

9. Related party transactions

As at the 30th September 2023 £657,192 was owed to the parent company (2022: £646,404).

10. Controlling party

The ultimate parent company is Securigroup Limited, a company registered in Scotland.