Registered number
12444405
Wtp Manchester Limited
Filleted Accounts
31 March 2024
Wtp Manchester Limited
Registered number: 12444405
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,666 27,083
Investments 4 50,000 50,000
71,666 77,083
Current assets
Stocks 3,000 3,000
Debtors 5 - 9,775
Cash at bank and in hand 40,699 29,065
43,699 41,840
Creditors: amounts falling due within one year 6 (78,382) (73,867)
Net current liabilities (34,683) (32,027)
Net assets 36,983 45,056
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,883 44,956
Shareholders' funds 36,983 45,056
The directors are 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 directors acknowledge their 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.
Rojdan Atil GUL
Director
Approved by the board on 6 August 2024
Wtp Manchester Limited
Notes to the Accounts
for the period from 1 May 2023 to 31 March 2024
1 Accounting policies
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
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 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 49,825
At 31 March 2024 49,825
Depreciation
At 1 May 2023 22,742
Charge for the period 5,417
At 31 March 2024 28,159
Net book value
At 31 March 2024 21,666
At 30 April 2023 27,083
4 Investments
Other
investments
£
Cost
At 1 May 2023 50,000
At 31 March 2024 50,000
5 Debtors 2024 2023
£ £
Other debtors - 9,775
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 60 14
Trade creditors 262 6,592
Taxation and social security costs 41,060 32,600
Other creditors 37,000 34,661
78,382 73,867
7 Controlling party
Company directors Mr Rojdan A. Gul and Mr Cem K. Yildiz hold 50% each ordinary shares out of all issued share capital.
8 Other information
Wtp Manchester Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6BG
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