ACCOUNTS - Final Accounts

MANRAY PARTNERS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31true2017-01-01investment consultancy servicesfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true 06993817 2017-01-01 2017-12-31 06993817 2016-01-01 2016-12-31 06993817 2017-12-31 06993817 2016-12-31 06993817 2016-01-01 06993817 c:Director3 2017-01-01 2017-12-31 06993817 d:Buildings d:ShortLeaseholdAssets 2017-01-01 2017-12-31 06993817 d:Buildings d:ShortLeaseholdAssets 2017-12-31 06993817 d:Buildings d:ShortLeaseholdAssets 2016-12-31 06993817 d:FurnitureFittings 2017-01-01 2017-12-31 06993817 d:FurnitureFittings 2017-12-31 06993817 d:FurnitureFittings 2016-12-31 06993817 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 06993817 d:OfficeEquipment 2017-01-01 2017-12-31 06993817 d:OfficeEquipment 2017-12-31 06993817 d:OfficeEquipment 2016-12-31 06993817 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 06993817 d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 06993817 d:CurrentFinancialInstruments 2017-12-31 06993817 d:CurrentFinancialInstruments 2016-12-31 06993817 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 06993817 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 06993817 d:ShareCapital 2017-12-31 06993817 d:ShareCapital 2016-12-31 06993817 d:RetainedEarningsAccumulatedLosses 2017-12-31 06993817 d:RetainedEarningsAccumulatedLosses 2016-12-31 06993817 d:AcceleratedTaxDepreciationDeferredTax 2017-12-31 06993817 d:AcceleratedTaxDepreciationDeferredTax 2016-12-31 06993817 c:OrdinaryShareClass1 2017-01-01 2017-12-31 06993817 c:OrdinaryShareClass1 2017-12-31 06993817 c:FRS102 2017-01-01 2017-12-31 06993817 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 06993817 c:FullAccounts 2017-01-01 2017-12-31 06993817 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06993817

MANRAY PARTNERS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017


MANRAY PARTNERS LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 7


MANRAY PARTNERS LIMITED REGISTERED NUMBER:06993817

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		77,347		91,501
Current assets
Debtors: amounts falling due within one year	5	514,863		614,388
Cash at bank and in hand		458,417		249,017
		973,280		863,405
Current liabilities
Creditors: amounts falling due within one year	6	(584,762)		(513,634)
Net current assets			388,518		349,771
Total assets less current liabilities			465,865		441,272
Provisions for liabilities
Deferred tax	7		(14,310)		(17,805)
Net assets			451,555		423,467

Capital and reserves
Called up share capital	8	250,002	250,002
Profit and loss account		201,553	173,465
		451,555	423,467

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1


MANRAY PARTNERS LIMITED REGISTERED NUMBER:06993817

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2017

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2018.

D Tahan

Director

The notes on pages 3 to 7 form part of these financial statements.

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MANRAY PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

Manray Partners Limited is a private limited liability company registered in England and Wales. Its registered office and principal place of business address is at 44 Baker Street, Accurist House, London, W1U 7AN.
The principal activity of the company is that of investment consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises revenue recognised by the company in respect of consultancy services supplied during the year, exclusive of Value Added Tax.
Revenue from consultancy services is recognised in the period when the services are performed.

2.3

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected future lives.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

Depreciation is provided on the following basis:

Leasehold improvements	-	20%	straight line
Fixtures & fittings	-	20%	reducing balance
Office equipment	-	33%	straight line

2.4

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, and loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable costs.
Interest bearing borrowings, such as bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

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MANRAY PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.5

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

2.6

Finance costs

Finance costs are charged to the Statement of Comprehensive Income.

2.7

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

2.8

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

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MANRAY PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
1) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 5 (2016 -6).

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MANRAY PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	Tangible fixed assets

	Leasehold improvements	Fixtures & fittings	Office equipment	Total
	£	£	£	£
Cost
At 1 January 2017	6,151	161,430	92,769	260,350
Additions	-	-	8,669	8,669
At 31 December 2017	6,151	161,430	101,438	269,019
Depreciation
At 1 January 2017	6,151	81,954	80,743	168,848
Charge for the year on owned assets	-	15,833	6,991	22,824
At 31 December 2017	6,151	97,787	87,734	191,672
Net book value
At 31 December 2017	-	63,643	13,704	77,347
At 31 December 2016	-	79,476	12,025	91,501

Debtors

					2017	2016
					£	£


Amounts owed by group undertakings	422,213	480,062
Other debtors	48,230	110,528
Prepayments and accrued income	44,420	23,798
	514,863	614,388

Included within other debtors due within one year is a loan to C Brett, a director, amounting to £18,015 (2016 -£84,523).

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MANRAY PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	73,406	62,292
Amounts owed to group undertakings	277,321	303,291
Taxation and social security	29,030	23,461
Other creditors	862	2,023
Accruals and deferred income	204,143	122,567
	584,762	513,634

7.	Deferred taxation

	2017	2016
	£	£

At beginning of year	17,805	15,274
Charged to profit or loss	(3,495)	2,531
At end of year	14,310	17,805

The provision for deferred taxation is made up as follows:
	2017	2016
	£	£

	Accelerated capital allowances	14,310	17,805
		14,310	17,805

8.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

250,002 Ordinary shares of £1 each	250,002	250,002

9.	Controlling party

The company’s immediate parent undertaking is Manray Holdings Limited, a company registered in England and Wales. Its ultimate parent undertaking is Milaflores Ventures Limited, a company incorporated in the British Virgin Islands.

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