Mann Brothers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01927637 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

MANN BROTHERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P S Mann

S S Mann

D S Mann

R G Singh

SECRETARY:

P S Mann

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

01927637 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

162,998

190,656

Investments

5

118,490

118,490

Investment property

6

2,110,000

2,110,000

2,391,488

2,419,146

CURRENT ASSETS

Stocks

7

365,000

430,000

Debtors

8

1,251,943

1,201,649

Cash at bank and in hand

92,240

67,649

1,709,183

1,699,298

CREDITORS

Amounts falling due within one year

9

637,726

927,290

NET CURRENT ASSETS

1,071,457

772,008

TOTAL ASSETS LESS CURRENT LIABILITIES

3,462,945

3,191,154

CREDITORS

Amounts falling due after more than one year

10

-

(6,834

)

PROVISIONS FOR LIABILITIES

(28,825

)

(40,814

)

NET ASSETS

3,434,120

3,143,506

CAPITAL AND RESERVES

Called up share capital

21,000

21,000

Revaluation reserve

11

1,857,576

1,857,576

Retained earnings

1,555,544

1,264,930

SHAREHOLDERS' FUNDS

3,434,120

3,143,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2020 and were signed on its behalf by:

P S Mann - Director

1.	STATUTORY INFORMATION

Mann Brothers 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 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 as modified by the revaluation of certain assets.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

Unexpired Term of Lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

In accordance with SSAP 19, certain properties are held for long term investment and are included in

the balance sheet at their open market values. The surplus or deficit on revaluation of such properties

are transferred to the investment property revaluation reserve. Depreciation is not provided on these

investment properties in accordance with SSAP 19. This policy represents a departure from the

Companies Act 2006 which requires depreciation to be provided on all fixed assets. The directors

consider that this policy is necessary in order that the accounts give a true and fair view because

current market values are of prime importance rather than the calculation of systematic annual

depreciation.

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 Income Statement,

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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.

Fixed asset investments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 November 2018

319,142

244,154

101,821

Additions

-

670

-

At 31 October 2019

319,142

244,824

101,821

DEPRECIATION

At 1 November 2018

274,060

111,552

89,561

Charge for year

6,320

19,991

1,839

At 31 October 2019

280,380

131,543

91,400

NET BOOK VALUE

At 31 October 2019

38,762

113,281

10,421

At 31 October 2018

45,082

132,602

12,260

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2018

29,950

22,048

717,115

Additions

-

-

670

At 31 October 2019

29,950

22,048

717,785

DEPRECIATION

At 1 November 2018

29,238

22,048

526,459

Charge for year

178

-

28,328

At 31 October 2019

29,416

22,048

554,787

NET BOOK VALUE

At 31 October 2019

534

-

162,998

At 31 October 2018

712

-

190,656

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

Other

undertakings

venture

investments

Totals

£

£

£

£

COST

At 1 November 2018

and 31 October 2019

800

10,800

106,890

118,490

NET BOOK VALUE

At 31 October 2019

800

10,800

106,890

118,490

At 31 October 2018

800

10,800

106,890

118,490

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

and 31 October 2019

2,110,000

NET BOOK VALUE

At 31 October 2019

2,110,000

At 31 October 2018

2,110,000

Fair value at 31 October 2019 is represented by:

£

Valuation in 2007

197,576

Valuation in 2017

1,912,424

2,110,000

The Investment Property was valued on an open market basis on 31 October 2017 by the directors .

7.

STOCKS

2019

2018

£

£

Stocks and WIP

365,000

430,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

552,870

463,278

Amounts owed by group undertakings

574,261

693,796

Other debtors

20,000

22,980

Directors' loan accounts

79,764

-

Prepayments

25,048

21,595

1,251,943

1,201,649

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

348,804

Trade creditors

396,883

437,162

Tax

106,103

53,450

Social security and other taxes

102,210

55,620

Net wages

526

-

Other creditors

275

46

Directors' loan accounts

-

28

Accruals and deferred income

31,729

32,180

637,726

927,290

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Deferred government grants

-

6,834

11.

RESERVES

Revaluation

reserve

£

At 1 November 2018

and 31 October 2019

1,857,576