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Registered number: 01080415
Manchester & Northern Developments Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 January 2024
AJ Fleet and Co Limited
Chartered Certified Accountants
Hyde Park House
Cartwright Street
Hyde
SK14 4EH
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Statement of Financial Position
Registered number: 01080415
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,643,444 1,568,136
1,643,444 1,568,136
CURRENT ASSETS
Stocks 500 500
Debtors 59,978 56,755
Cash at bank and in hand 440,746 395,015
501,224 452,270
Creditors: Amounts Falling Due Within One Year (220,160 ) (200,893 )
NET CURRENT ASSETS (LIABILITIES) 281,064 251,377
TOTAL ASSETS LESS CURRENT LIABILITIES 1,924,508 1,819,513
Creditors: Amounts Falling Due After More Than One Year (207,543 ) (161,554 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (162,344 ) (142,696 )
NET ASSETS 1,554,621 1,515,263
CAPITAL AND RESERVES
Called up share capital 6 200 200
Fair Value Reserve 7 430,214 430,214
Income Statement 1,124,207 1,084,849
SHAREHOLDERS' FUNDS 1,554,621 1,515,263
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For the year ending 31 January 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 January 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
G Handley
Director
07/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Manchester & Northern Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01080415 . The registered office is Hyde Park House, Cartwright Street, Newton Hyde, Cheshire, SK14 4EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% straight line
Motor Vehicles 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Total
£
Cost
As at 1 February 2023 1,828,894
Additions 133,066
As at 31 January 2024 1,961,960
Depreciation
As at 1 February 2023 260,758
Provided during the period 57,758
As at 31 January 2024 318,516
Net Book Value
As at 31 January 2024 1,643,444
As at 1 February 2023 1,568,136
Within the 'Plant and Machinery' of £1,709,046 is a property which has an open market value of £1,500,000 and was valued on 16th January 2012 by Edward Symonds. If this property was shown at its historical cost, this would be £981,670.
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5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,925 -
Later than one year and not later than five years 20,473 -
28,398 -
28,398 -
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
7. Reserves
Fair Value Reserve
£
As at 1 February 2023 430,214
As at 31 January 2024 430,214
8. Ultimate Controlling Party
The company's ultimate controlling party is G Handley and L Handley by virtue of their ownership of 100% of the issued share capital in the company.
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