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COMPANY REGISTRATION NUMBER: 13601755
Five One Two (Manchester) Limited
Filleted Unaudited Financial Statements
31 August 2023
Five One Two (Manchester) Limited
Financial Statements
Year ended 31 August 2023
Contents
Page
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Five One Two (Manchester) Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Five One Two (Manchester) Limited
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Five One Two (Manchester) Limited for the year ended 31 August 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Five One Two (Manchester) Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Five One Two (Manchester) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Five One Two (Manchester) Limited and its director for our work or for this report.
It is your duty to ensure that Five One Two (Manchester) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Five One Two (Manchester) Limited. You consider that Five One Two (Manchester) Limited 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 financial statements of Five One Two (Manchester) Limited. 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 financial statements.
HEBBLETHWAITES Chartered accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
29 January 2024
Five One Two (Manchester) Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
958
Current assets
Debtors
6
69,713
Cash at bank and in hand
14,802
100
--------
----
84,515
100
Creditors: amounts falling due within one year
7
126,972
---------
----
Net current (liabilities)/assets
( 42,457)
100
--------
----
Total assets less current liabilities
( 41,499)
100
--------
----
Net (liabilities)/assets
( 41,499)
100
--------
----
Five One Two (Manchester) Limited
Statement of Financial Position (continued)
31 August 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 41,599)
--------
----
Shareholders (deficit)/funds
( 41,499)
100
--------
----
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2024 , and are signed on behalf of the board by:
Mrs E A Barber-Atkinson
Director
Company registration number: 13601755
Five One Two (Manchester) Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Willow Lodge, Doncaster Road, Oldcotes, Worksop, S81 8HT, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director acknowledges that, at the year-end date, there is a net current liabilities position. However, the director has the means to support the company should this be necessary, and the majority of creditors are owing to connected companies, with the same ultimate controlling party. Therefore, the director considers it to be appropriate to prepare the financial statements on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements, other than those highlighted below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidence a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: Nil).
5. Tangible assets
Equipment
£
Cost
At 1 September 2022
Additions
1,277
-------
At 31 August 2023
1,277
-------
Depreciation
At 1 September 2022
Charge for the year
319
-------
At 31 August 2023
319
-------
Carrying amount
At 31 August 2023
958
-------
At 31 August 2022
-------
6. Debtors
2023
2022
£
£
Trade debtors
17,341
Other debtors
52,372
--------
----
69,713
--------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,714
Social security and other taxes
2,944
Other creditors
109,314
---------
----
126,972
---------
----
8. Related party transactions
As at 31 August 2023, the company owes Five One Two (Sheffield) Limited £56,294 (2022: £Nil), a company connected by virtue of a common director and a common shareholder. The loan is interest free with no formal repayment terms. As at 31 August 2023, the company owes Five One Two (Doncaster) Limited £25,000 (2022: £Nil), a company connected by virtue of a common shareholder. The loan is interest free with no formal repayment terms. As at 31 August 2023, the company owes Sheffield International Freight Terminal Limited £25,000 (2022: £Nil), a company connected by virtue of a common ultimate controlling party. The loan is interest free with no formal repayment terms.