Manser Holdings Limited - Limited company accounts 16.3

MANSER HOLDINGS LIMITED

Directors' Report and

Unaudited Financial Statements

for the Year Ended 31 December 2016

Page

Company Information

1

Directors' Report

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

Directors:

G C Barlow

J P Manser

P J B Mullin

Secretary:

J P Manser

Registered office:

Bridge Studios

Hammersmith Bridge

London

W6 9DA

Registered number:

03788772 (England and Wales)

Accountants:

Haines Watts

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

Principal activity

The principal activity of the company is that of a holding company.

Directors

The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this

report.

G C Barlow

J P Manser

P J B Mullin

Statement of directors' responsibilities

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), including Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of 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 judgements and accounting estimates that are reasonable and prudent;

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.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

On behalf of the board:

P J B Mullin - Director

11 September 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Manser Holdings Limited for the year ended 31 December 2016 which comprise the Income

Statement, Balance Sheet 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 Manser Holdings Limited, 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 Manser Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Manser Holdings Limited, 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 Manser Holdings Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Manser Holdings Limited 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 Manser Holdings Limited. You consider that Manser Holdings Limited 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 Manser Holdings Limited. 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.

Haines Watts

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

11 September 2017

Turnover

-

-

Operating profit

-

-

Income from shares in group undertakings

3

15,748

-

Profit before taxation

15,748

-

Tax on profit

-

-

Profit for the financial year

15,748

-

Fixed assets

Investments

5

70,000

70,000

Current assets

Debtors

6

15,384

15,384

Cash at bank

2

2

15,386

15,386

Net current assets

15,386

15,386

Total assets less current liabilities

85,386

85,386

Capital and reserves

Called up share capital

7

741

741

Share premium

8

84,312

84,312

Capital redemption reserve

8

333

333

Shareholders' funds

85,386

85,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 September 2017 and were signed on its behalf by:

J P Manser - Director

1.	Statutory information

Manser Holdings Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its

group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore

taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group

accounts.

Financial instruments policy

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Key sources of estimation uncertainty and judgements

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

3.

Income from shares in group undertakings

2016

2015

£

£

Shares in group undertakings

15,748

-

4.

Dividends

2016

2015

£

£

Ordinary shares of 1 each

Interim

15,748

-

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2016

and 31 December 2016

70,000

Net book value

At 31 December 2016

70,000

At 31 December 2015

70,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Manser Practice Limited

Registered office:

Nature of business: Architects

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

£

Aggregate capital and reserves

396,216

377,985

Profit for the year

33,979

15,011

6.

Debtors: amounts falling due within one year

2016

2015

£

£

Amounts owed by group undertakings

15,384

15,384

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

741

Ordinary

1

741

741

8.

Reserves

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 January 2016

-

84,312

333

84,645

Profit for the year

15,748

15,748

Dividends

(15,748

)

(15,748

)

At 31 December 2016

-

84,312

333

84,645

9.	Related party disclosures

During the year the company received dividends of £15,748 (2015: £nil) from The Manser Practice Limited. As

at 31 December 2016 £15,384 (2015: £15,384) was included within other debtors in respect of these dividends.

Dividends paid to directors during the year £15,748 (2015: £nil).

10.	Ultimate controlling party

The ultimate controlling party is J P Manser who is a director of the company and owns 67% of the issued

share capital of the company.