Manor Retail Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10821081 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Manor Retail Group Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,611,191

1,269,036

CURRENT ASSETS

Stocks

77,404

55,673

Debtors

5

35,551

34,815

Cash at bank and in hand

127,838

278,245

240,793

368,733

CREDITORS

Amounts falling due within one year

6

665,122

297,815

NET CURRENT (LIABILITIES)/ASSETS

(424,329

)

70,918

TOTAL ASSETS LESS CURRENT LIABILITIES

1,186,862

1,339,954

CREDITORS

Amounts falling due after more than one year

7

1,390,000

1,390,000

NET LIABILITIES

(203,138

)

(50,046

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(203,238

)

(50,146

)

SHAREHOLDERS' FUNDS

(203,138

)

(50,046

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2020 and were signed on its behalf by:

J E Brough - Director

1.	STATUTORY INFORMATION

Manor Retail Group Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

10821081

Registered office:

3-5 Prestbury Road

Macclesfield

Cheshire

SK10 1AU

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources

to continue in operational existence for the foreseeable future, being the 12 month period from the date of

these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the

financial statements have been prepared on a going concern basis.

The financial statements are prepared on the going concern basis as the directors feel that the company has

the continued support of its creditors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2018 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 October 2018

1,228,166

87,244

1,315,410

Additions

242,026

201,791

443,817

At 30 September 2019

1,470,192

289,035

1,759,227

DEPRECIATION

At 1 October 2018

24,563

21,811

46,374

Charge for year

29,404

72,258

101,662

At 30 September 2019

53,967

94,069

148,036

NET BOOK VALUE

At 30 September 2019

1,416,225

194,966

1,611,191

At 30 September 2018

1,203,603

65,433

1,269,036

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

20,895

16,615

Other debtors

14,656

18,200

35,551

34,815

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

112,108

59,198

Taxation and social security

15,301

16,224

Other creditors

537,713

222,393

665,122

297,815

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

1,390,000

1,390,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

1,390,000

1,390,000

8.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

1,390,000

1,390,000

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,390,000

0% Redeemable preference

£1

1,390,000

The following shares were issued during the period for cash at par:

1,390,000 0% Redeemable preference shares of £1

The 0% cumulative preference shares are non-equity shares which carry an entitlement to a dividend at the

rate of 0p per share per annum. The 0% cumulative preference shares carry no voting rights but rank before the

ordinary shares on winding up.