Manse Investments Ltd. - Abbreviated accounts 16.1

REGISTERED NUMBER: SC196490 (Scotland)

Abbreviated Unaudited Accounts

for the Period 29 May 2015 to 7 March 2016

for

Manse Investments Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D F R Mitchell MRICS

C Y Mitchell

SECRETARY:

C Y Mitchell

REGISTERED OFFICE:

46 Charlotte Square

Edinburgh

EH2 4HQ

REGISTERED NUMBER:

SC196490 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

2

-

465

Investments

3

-

194

Investment property

4

280,000

280,000

280,000

280,659

CURRENT ASSETS

Debtors

901,264

77,718

Cash at bank

1,385,198

310,573

2,286,462

388,291

CREDITORS

Amounts falling due within one year

542,177

103,938

NET CURRENT ASSETS

1,744,285

284,353

TOTAL ASSETS LESS CURRENT LIABILITIES

2,024,285

565,012

CAPITAL AND RESERVES

Called up share capital

5

200

200

Revaluation reserve

10,775

10,775

Profit and loss account

2,013,310

554,037

SHAREHOLDERS' FUNDS

2,024,285

565,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 7 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 7 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 June 2016 and were signed on its behalf by:

D F R Mitchell MRICS - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) no

depreciation is provided in respect of freehold properties held as investments. This is a departure from the

requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are

held for investment and not for consumption and the directors consider that to depreciate them would not give a

true and fair view.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at cost and no depreciation is provided on them. Provision for diminution in

value is made only when the directors are of the opinion that there is a permanent diminution in the value of the

investment

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 29 May 2015

35,291

Additions

352

Disposals

(35,643

)

At 7 March 2016

-

DEPRECIATION

At 29 May 2015

34,826

Eliminated on disposal

(34,826

)

At 7 March 2016

-

NET BOOK VALUE

At 7 March 2016

-

At 28 May 2015

465

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 29 May 2015

194

Disposals

(194

)

At 7 March 2016

-

NET BOOK VALUE

At 7 March 2016

-

At 28 May 2015

194

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 29 May 2015

280,000

Additions

223,394

Disposals

(223,394

)

At 7 March 2016

280,000

NET BOOK VALUE

At 7 March 2016

280,000

At 28 May 2015

280,000

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

7.3.16

28.5.15

value:

£

£

200

Ordinary

£1

200

200

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 7 March 2016 and the year

ended 28 May 2015:

7.3.16

28.5.15

£

£

D F R Mitchell MRICS

Balance outstanding at start of period

(26,353

)

(56,283

)

Amounts advanced

295,747

30,180

Amounts repaid

(6,121

)

(250

)

Balance outstanding at end of period

263,273

(26,353

)