Registered number
08280500
MANCHESTER SPINES LTD
Filleted Accounts
30 November 2023
MANCHESTER SPINES LTD
Registered number: 08280500
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 13,500 15,000
Tangible assets 4 4,855 1,079
18,355 16,079
Current assets
Cash at bank and in hand 91,837 4,077
Creditors: amounts falling due within one year 5 (43,450) (14,778)
Net current assets/(liabilities) 48,387 (10,701)
Net assets 66,742 5,378
Capital and reserves
Called up share capital 200 200
Profit and loss account 66,542 5,178
Shareholders' funds 66,742 5,378
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Irfan Siddique
Director
Approved by the board on 7 February 2024
MANCHESTER SPINES LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 30,000
At 30 November 2023 30,000
Amortisation
At 1 December 2022 15,000
Provided during the year 1,500
At 30 November 2023 16,500
Net book value
At 30 November 2023 13,500
At 30 November 2022 15,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 1,619 - 1,619
Additions 2,792 2,887 5,679
At 30 November 2023 4,411 2,887 7,298
Depreciation
At 1 December 2022 540 - 540
Charge for the year 1,470 433 1,903
At 30 November 2023 2,010 433 2,443
Net book value
At 30 November 2023 2,401 2,454 4,855
At 30 November 2022 1,079 - 1,079
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 40,914 8,917
Other creditors 2,536 5,861
43,450 14,778
6 Other information
MANCHESTER SPINES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2, Parkway 5
Parkway Business Centre
300 Princess Road
Manchester,England
M14 7HR
MANCHESTER SPINES LTD 08280500 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2022 Irfan Siddique No description of principal activity 08280500 2021-12-01 2022-11-30 08280500 core:WithinOneYear 2022-11-30 08280500 core:ShareCapital 2022-11-30 08280500 core:RetainedEarningsAccumulatedLosses 2022-11-30 08280500 2022-12-01 2023-11-30 08280500 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08280500 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 08280500 bus:Director40 2022-12-01 2023-11-30 08280500 2 2022-12-01 2023-11-30 08280500 core:Goodwill 2022-12-01 2023-11-30 08280500 core:PlantMachinery 2022-12-01 2023-11-30 08280500 core:Vehicles 2022-12-01 2023-11-30 08280500 countries:England 2022-12-01 2023-11-30 08280500 bus:FRS102 2022-12-01 2023-11-30 08280500 bus:FullAccounts 2022-12-01 2023-11-30 08280500 2023-11-30 08280500 core:WithinOneYear 2023-11-30 08280500 core:ShareCapital 2023-11-30 08280500 core:RetainedEarningsAccumulatedLosses 2023-11-30 08280500 core:Goodwill 2023-11-30 08280500 core:PlantMachinery 2023-11-30 08280500 core:Vehicles 2023-11-30 08280500 2022-11-30 08280500 core:Goodwill 2022-11-30 08280500 core:PlantMachinery 2022-11-30 08280500 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure