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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
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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
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North Property Group Manchester Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,394 
4,322 
Current assets
Debtors
804,861 
167,108 
Cash at bank and in hand
190,762 
114,171 
995,623 
281,279 
Creditors: amounts falling due within one year
(293,932)
(229,416)
Net current assets
701,691 
51,863 
Net assets
705,085 
56,185 
Capital and reserves
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
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North Property Group Manchester Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Foreign exchange
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.
Pension costs
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.
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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 
Additions
- 
349 
349 
At 31 May 2023
2,819 
2,859 
5,678 
Depreciation
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 
Net book value
At 31 May 2023
1,762 
1,632 
3,394 
At 31 May 2022
2,350 
1,972 
4,322 
5
Debtors
2023 
2022 
£ 
£ 
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 
Other debtors
9,927 
2 
804,861 
167,108 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
78,677 
69,741 
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 
Accruals
- 
50,658 
293,932 
229,416 
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.)
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North Property Group Manchester Ltd Notes to the Accounts for the year ended 31 May 2023
8
Controlling party
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).
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