Company Registration No. 13397406 (England and Wales)
North Property Group Manchester Ltd
Unaudited accounts
for the year ended 31 May 2023
North Property Group Manchester Ltd
Unaudited accounts
Contents
North Property Group Manchester Ltd
Company Information
for the year ended 31 May 2023
Directors
Oliver Banks
Timothy Coen
Company Number
13397406 (England and Wales)
Registered Office
One Brewery Wharf
Waterloo Street
Leeds
LS10 1GX
England
Accountants
Sleek Accounting Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
North Property Group Manchester Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
3,394
4,322
Cash at bank and in hand
190,762
114,171
Creditors: amounts falling due within one year
(293,932)
(229,416)
Net current assets
701,691
51,863
Called up share capital
2
2
Profit and loss account
705,083
56,183
Shareholders' funds
705,085
56,185
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2024 and were signed on its behalf by
Oliver Banks
Director
Company Registration No. 13397406
North Property Group Manchester Ltd
Notes to the Accounts
for the year ended 31 May 2023
North Property Group Manchester Ltd is a private company, limited by shares, registered in England and Wales, registration number 13397406. The registered office is One Brewery Wharf, Waterloo Street, Leeds, LS10 1GX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
33.33% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
North Property Group Manchester Ltd
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2022
2,819
2,510
5,329
At 31 May 2023
2,819
2,859
5,678
At 1 June 2022
469
538
1,007
Charge for the year
588
689
1,277
At 31 May 2023
1,057
1,227
2,284
At 31 May 2023
1,762
1,632
3,394
At 31 May 2022
2,350
1,972
4,322
Amounts falling due within one year
Trade debtors
245,421
117,866
Amounts due from group undertakings etc.
475,348
-
Accrued income and prepayments
74,165
49,240
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
17,215
15,036
Amounts owed to group undertakings and other participating interests
621
71,872
Taxes and social security
172,410
21,202
Other creditors
25,009
907
7
Transactions with related parties
North Property Group Ltd
The company is related to North Property Group Ltd by virtue of a common director. At the balance sheet date the amount due from North Property Group Ltd was £475,346 (2022 owing to: £71,872).
Residential Real Estate Global Ltd
The company is a 100% subsidiary of Residential Real Estate Global Ltd. At the balance sheet date the amount due to Residential Real Estate Global Ltd was £621 (2022: £2.)
North Property Group Manchester Ltd
Notes to the Accounts
for the year ended 31 May 2023
The company's parent company is Residential Real Estate Global Ltd, a company incorporated in England and Wales.
For the year ended 31 May 2023 Residential Real Estate Global Ltd was controlled by Timothy Coen and Oliver Banks.
9
Average number of employees
During the year the average number of employees was 13 (2022: 5).