Company Registration No. 12251390 (England and Wales)
THE PROPERTY MANCHESTER LTD
Unaudited accounts
for the year ended 31 October 2023
THE PROPERTY MANCHESTER LTD
Unaudited accounts
Contents
THE PROPERTY MANCHESTER LTD
Company Information
for the year ended 31 October 2023
Directors
Mr. Steffan Glyndwr Stanislaw Olszanski
Mr. Krzysztof Dominik Szady
Company Number
12251390 (England and Wales)
Registered Office
18 Maddison Road
Droylsden
Manchester
Lancashire
M43 6ES
England
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
THE PROPERTY MANCHESTER LTD
Statement of financial position
as at 31 October 2023
Cash at bank and in hand
42,125
32,373
Creditors: amounts falling due within one year
(80,302)
(63,531)
Net current assets
37,213
43,932
Total assets less current liabilities
37,213
43,932
Creditors: amounts falling due after more than one year
(28,204)
(33,764)
Called up share capital
100
100
Profit and loss account
8,909
10,068
Shareholders' funds
9,009
10,168
For the year ending 31 October 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 12 July 2024 and were signed on its behalf by
Mr. Steffan Glyndwr Stanislaw Olszanski
Director
Company Registration No. 12251390
THE PROPERTY MANCHESTER LTD
Notes to the Accounts
for the year ended 31 October 2023
THE PROPERTY MANCHESTER LTD is a private company, limited by shares, registered in England and Wales, registration number 12251390. The registered office is 18 Maddison Road, Droylsden, Manchester, Lancashire, M43 6ES, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
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.
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.
Expenditure on research and development is written off in the year in which it is incurred.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
THE PROPERTY MANCHESTER LTD
Notes to the Accounts
for the year ended 31 October 2023
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
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.
Investments in shares are included at fair value.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Amounts falling due within one year
Amounts due from group undertakings etc.
9,200
9,200
Other debtors
66,190
65,890
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
8,118
8,118
Amounts owed to group undertakings and other participating interests
17,276
-
Taxes and social security
589
2,693
Loans from directors
52,846
50,940
6
Creditors: amounts falling due after more than one year
2023
2022
THE PROPERTY MANCHESTER LTD
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
At the balance sheet date, where the director held controlling interests, the company was owed by S O Property Consultancy Ltd £9,200 & j & T Development Ltd. £66,190.
At the balance sheet date, where the director's held controlling interest, the company owed the director £52,846.
The company's ultimate controlling party is Mr. Steffan Glyndwr Stanislaw Olszanski and Mr. Krzysztof Dominik Szady by virtue of his ownership of the majority of the issued share capital in the company.
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Average number of employees
During the year the average number of employees was 2 (2022: 2).