2022-09-012023-08-312023-08-31false12147893MANCHESTER LEASES 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MANCHESTER LEASES LIMITED

Registered Number
12147893
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

MANCHESTER LEASES LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

NEWCOMBE, Ruth Georgiana

Registered Address

Unit C Anchor House School Lane
Chandler's Ford
Eastleigh
SO53 4DY

Registered Number

12147893 (England and Wales)
MANCHESTER LEASES LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,643,1271,628,500
1,643,1271,628,500
Current assets
Debtors437,13760,000
Cash at bank and on hand16,200338,943
453,337398,943
Creditors amounts falling due within one year81,542,6341,597,056
Net current assets (liabilities)(1,089,297)(1,198,113)
Total assets less current liabilities553,830430,387
Net assets553,830430,387
Capital and reserves
Called up share capital100100
Revaluation reserve273,500273,500
Profit and loss account280,230156,787
Shareholders' funds553,830430,387
The financial statements were approved and authorised for issue by the Director on 27 October 2023, and are signed on its behalf by:
NEWCOMBE, Ruth Georgiana
Director
Registered Company No. 12147893
MANCHESTER LEASES LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
4.Employee information

20232022
Average number of employees during the year10
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 September 221,628,500
Additions14,627
At 31 August 231,643,127
Net book value
At 31 August 231,643,127
At 31 August 221,628,500
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
NEWCOMBE, Ruth Georgiana(1,557,819)1,184,8380(372,981)
(1,557,819)1,184,8380(372,981)
7.Debtors within one year

2023

2022

££
Amounts owed by associates and joint ventures / participating interests425,025-
Other debtors12,11260,000
Total437,13760,000
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Amounts owed to related parties1,470,0601,557,819
Taxation and social security71,19536,777
Accrued liabilities and deferred income1,3792,460
Total1,542,6341,597,056
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.