Registration number:
Design Manchester Ltd
(A company limited by guarantee)
for the Year Ended 31 January 2023
Design Manchester Ltd
Contents
Company Information |
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Profit and Loss Account and Statement of Retained Earnings |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Design Manchester Ltd
Company Information
Directors |
Mr John Owens Miss Fiona McGarva Prof Malcolm Leslie Garrett Mr Kasper Reginald Tristram De Graaf |
Registered office |
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Accountants |
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Design Manchester Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 January 2023
Note |
2023 |
2022 |
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Turnover |
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Cost of sales |
( |
( |
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Gross surplus |
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Administrative expenses |
( |
( |
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Operating deficit |
(55) |
(964) |
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Other interest receivable and similar income |
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Deficit before tax |
( |
( |
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Tax on loss |
- |
( |
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Deficit for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Design Manchester Ltd
(Registration number: 09736584)
Statement of Financial Position as at 31 January 2023
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2023 |
2022 |
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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 assets |
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Reserves |
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Retained earnings |
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Surplus |
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For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Statement of Retained Earnings.
Approved and authorised by the
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Design Manchester Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
General information |
The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
England
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
These financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax is calculated on the basis of tax rates and laws
that have been enacted by the reporting date in the countries where company operates and generates taxable income.
Design Manchester Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
2023 |
2022 |
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Other debtors |
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Design Manchester Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Design Manchester Ltd
Note 1 |
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2022 |
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NewRow |
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2023 |
2022 |
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NewRow |
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2023 |
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2022 |
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2021 |
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2023 |
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2022 |
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2021 |
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