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 2021

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

134,388

144,332

Investments

5

118,490

118,490

Investment property

6

2,110,000

2,110,000

2,362,878

2,372,822

CURRENT ASSETS

Stocks

7

270,000

390,000

Debtors

8

1,079,676

1,017,096

Cash at bank and in hand

130,009

75,864

1,479,685

1,482,960

CREDITORS

Amounts falling due within one year

9

365,950

394,194

NET CURRENT ASSETS

1,113,735

1,088,766

TOTAL ASSETS LESS CURRENT LIABILITIES

3,476,613

3,461,588

CREDITORS

Amounts falling due after more than one year

10

(38,333

)

(50,000

)

PROVISIONS FOR LIABILITIES

(20,546

)

(25,278

)

NET ASSETS

3,417,734

3,386,310

CAPITAL AND RESERVES

Called up share capital

21,000

21,000

Revaluation reserve

11

1,857,576

1,857,576

Retained earnings

1,539,158

1,507,734

SHAREHOLDERS' FUNDS

3,417,734

3,386,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 17 December 2021 and were signed on its behalf by:

S S Mann - Director

R G Singh - 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 16 (2020 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 November 2020

319,142

249,835

104,273

Additions

-

3,158

12,220

At 31 October 2021

319,142

252,993

116,493

DEPRECIATION

At 1 November 2020

286,700

149,287

93,331

Charge for year

6,192

15,556

3,474

At 31 October 2021

292,892

164,843

96,805

NET BOOK VALUE

At 31 October 2021

26,250

88,150

19,688

At 31 October 2020

32,442

100,548

10,942

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2020

29,950

22,048

725,248

Additions

-

-

15,378

At 31 October 2021

29,950

22,048

740,626

DEPRECIATION

At 1 November 2020

29,550

22,048

580,916

Charge for year

100

-

25,322

At 31 October 2021

29,650

22,048

606,238

NET BOOK VALUE

At 31 October 2021

300

-

134,388

At 31 October 2020

400

-

144,332

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

Other

undertakings

venture

investments

Totals

£

£

£

£

COST

At 1 November 2020

and 31 October 2021

800

10,800

106,890

118,490

NET BOOK VALUE

At 31 October 2021

800

10,800

106,890

118,490

At 31 October 2020

800

10,800

106,890

118,490

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2020

and 31 October 2021

2,110,000

NET BOOK VALUE

At 31 October 2021

2,110,000

At 31 October 2020

2,110,000

Fair value at 31 October 2021 is represented by:

£

Valuation in 2007

197,576

Valuation in 2017

1,660,000

Cost

252,424

2,110,000

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

7.

STOCKS

2021

2020

£

£

Stocks and WIP

270,000

390,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

384,937

313,303

Amounts owed by group undertakings

557,213

599,162

Other debtors

15,300

16,000

Directors' loan accounts

90,725

60,598

Prepayments

31,501

28,033

1,079,676

1,017,096

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

10,000

3,376

Trade creditors

247,824

210,508

Tax

21,493

113,257

Social security and other taxes

49,923

35,953

Net wages

-

526

Other creditors

3,710

195

Accruals and deferred income

33,000

30,379

365,950

394,194

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

38,333

50,000

11.

RESERVES

Revaluation

reserve

£

At 1 November 2020

and 31 October 2021

1,857,576