Manstone Developers Limited - Period Ending 2018-04-30
Manstone Developers Limited - Period Ending 2018-04-30
Registration number:
Manstone Developers Limited
trading as
for the Period from 1 November 2016 to 30 April 2018
Suite B
32 Thorpe Wood
Peterborough
Cambridgeshire
PE3 6SR
Manstone Developers Limited
trading as Manstone Developers
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Manstone Developers Limited
trading as Manstone Developers
Company Information
Director |
Mr S L Green |
Registered office |
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Accountants |
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Page 1 |
Manstone Developers Limited
trading as Manstone Developers
(Registration number: 08771679)
Balance Sheet as at 30 April 2018
Note |
2018 |
2016 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total equity |
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For the financial period ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Manstone Developers Limited
trading as Manstone Developers
(Registration number: 08771679)
Balance Sheet as at 30 April 2018
Approved and authorised by the
Mr S L Green
Director
Page 3 |
Manstone Developers Limited
trading as Manstone Developers
Notes to the Financial Statements for the Period from 1 November 2016 to 30 April 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
The Site Office
24 Bouvarie Road
Folkestone
Kent
CT20 2SZ
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold property |
Nil |
Page 4 |
Manstone Developers Limited
trading as Manstone Developers
Notes to the Financial Statements for the Period from 1 November 2016 to 30 April 2018
Fixtures and fittings |
2 years straight line basis |
Office equipment |
2 years straight line basis |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 5 |
Manstone Developers Limited
trading as Manstone Developers
Notes to the Financial Statements for the Period from 1 November 2016 to 30 April 2018
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 November 2016 |
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At 30 April 2018 |
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Depreciation |
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At 1 November 2016 |
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Charge for the year |
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At 30 April 2018 |
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Carrying amount |
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At 30 April 2018 |
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At 31 October 2016 |
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Included within the net book value of land and buildings above is £Nil (2016 - £Nil) in respect of freehold land and buildings.
Investment properties |
2018 |
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At 1 November |
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Additions |
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Fair value adjustments |
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At 30 April |
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The freehold investment property has been revalued based on professional valuations provided to the Director of the company.
The valuation of the freehold investment property is therefore based upon the independant opinion of an external valuer rather than the opinion of the Director.
Page 6 |
Manstone Developers Limited
trading as Manstone Developers
Notes to the Financial Statements for the Period from 1 November 2016 to 30 April 2018
Debtors |
2018 |
2016 |
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Other debtors |
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Total current trade and other debtors |
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Page 7 |
Manstone Developers Limited
trading as Manstone Developers
Notes to the Financial Statements for the Period from 1 November 2016 to 30 April 2018
Creditors |
Note |
2018 |
2016 |
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Due within one year |
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Trade creditors |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2018 |
2016 |
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Non-current loans and borrowings |
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Other borrowings |
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Page 8 |