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Registered Number: 12025319
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 May 2023

for

CFN MANCHESTER LTD

Directors Friederike Vermaak-Baumann
Dr Azad Qasim Abbasali
Registered Number 12025319
Registered Office Granville Court
169 Upperchorlton Road
Manchester
Greater Manchester
M16 9RA
Accountants Krowe Limited
Basepoint Business Centre
Isidore Road, Bromsgrove Enterprise Park
Bromsgrove
B60 3ET
1
Report to the directors on the preparation of the unaudited statutory accounts of CFN Manchester Ltd for the year ended 31 May 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CFN Manchester Ltd for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/.

This report is made solely to the Board of Directors of CFN Manchester Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CFN Manchester Ltd and state those matters that we have agreed to state to the Board of Directors of CFN Manchester Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CFN Manchester Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CFN Manchester Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CFN Manchester Ltd. You consider that CFN Manchester Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CFN Manchester Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

31 May 2023



....................................................
Krowe Limited
Basepoint Business Centre
Isidore Road, Bromsgrove Enterprise Park
Bromsgrove
B60 3ET
20 February 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 550,000    450,000 
550,000    450,000 
Current assets      
Debtors 4 1,775    1,775 
Cash at bank and in hand 9,533    19,374 
11,308    21,149 
Creditors: amount falling due within one year 5 (356,733)   (371,722)
Net current liabilities (345,425)   (350,573)
 
Total assets less current liabilities 204,575    99,427 
Provisions for liabilities 6 (41,897)   (16,897)
Net assets 162,678    82,530 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 7 125,691   
Profit and loss account 36,887    82,430 
Shareholder's funds 162,678    82,530 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 February 2024 and were signed on its behalf by:


-------------------------------
Friederike Vermaak-Baumann
Director
3
General Information
CFN Manchester Ltd is a private company, limited by shares, registered in England and Wales, registration number 12025319, registration address Granville Court, 169 Upperchorlton Road, Manchester, Greater Manchester, M16 9RA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 June 2022 450,000    450,000 
Additions  
Disposals  
Revaluations 100,000    100,000 
At 31 May 2023 550,000    550,000 
Depreciation
At 01 June 2022  
Charge for year  
On disposals  
At 31 May 2023  
Net book values
Closing balance as at 31 May 2023 550,000    550,000 
Opening balance as at 01 June 2022 450,000    450,000 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Advance Received 1,775    1,775 
1,775    1,775 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 2,287    2,474 
Accrued Expenses   1,080 
Advance Paid 1,775    1,775 
Directors' Current Accounts 352,671    366,393 
356,733    371,722 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 41,897    16,897 
41,897    16,897 

7.

Reserves

2023
£
  2022
£
Revaluation of Fixed Assets 167,588   
Deferred Tax Provided on Revaluation (41,897)  
125,691   

8.

Investment properties

The investment properties were revalued by the Directors at 31 May 2023 to £550,000.  The cost of the investment properties are £382,412.   
4