Abbreviated Company Accounts - MANAQUEL COMPANY LIMITED

Abbreviated Company Accounts - MANAQUEL COMPANY LIMITED

MANAQUEL COMPANY LIMITED - Company Information

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Registered Number 00548860

MANAQUEL COMPANY LIMITED

Abbreviated Accounts

31 March 2016

MANAQUEL COMPANY LIMITED Registered Number 00548860

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 12,727,582 12,200,322
Investments 3 433 433
12,728,015 12,200,755
Current assets
Debtors 2,393,428 2,266,239
Cash at bank and in hand 3,037 65,570
2,396,465 2,331,809
Creditors: amounts falling due within one year (7,828,155) (6,863,603)
Net current assets (liabilities) (5,431,690) (4,531,794)
Total assets less current liabilities 7,296,325 7,668,961
Total net assets (liabilities) 7,296,325 7,668,961
Capital and reserves
Called up share capital 4 200 200
Other reserves 10,787,684 10,787,684
Profit and loss account (3,491,559) (3,118,923)
Shareholders' funds 7,296,325 7,668,961
  • For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 March 2017

And signed on their behalf by:
DWORA FELDMAN, Director

MANAQUEL COMPANY LIMITED Registered Number 00548860

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover of the company is derived solely from rental income.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 25% on the reducing balance
Fixtures & Fittings - 10% on the reducing balance

Other accounting policies
Financial instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets
£
Cost
At 1 April 2015 12,228,278
Additions 527,292
Disposals -
Revaluations -
Transfers -
At 31 March 2016 12,755,570
Depreciation
At 1 April 2015 27,956
Charge for the year 32
On disposals -
At 31 March 2016 27,988
Net book values
At 31 March 2016 12,727,582
At 31 March 2015 12,200,322

All fixed assets are initially recorded at cost.

3Fixed assets Investments
The investment is shares in a UK Company.

4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
5 Ordinary shares of £20 each 100 100
5 6% Preference Shares shares of £20 each 100 100