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REGISTERED NUMBER: 02358837 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NORTH MANCHESTER PROPERTIES LIMITED

NORTH MANCHESTER PROPERTIES LIMITED (REGISTERED NUMBER: 02358837)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


NORTH MANCHESTER PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Brown
K. A. Taylor
Mrs H. A. Thompson
G. Morris





SECRETARY: G. Morris





REGISTERED OFFICE: Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ





REGISTERED NUMBER: 02358837 (England and Wales)





ACCOUNTANTS: Wyatt Morris Golland Ltd
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

NORTH MANCHESTER PROPERTIES LIMITED (REGISTERED NUMBER: 02358837)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76 89
Investments 5 170,150 170,150
Investment properties 6 2,291,449 2,291,449
2,461,675 2,461,688

CURRENT ASSETS
Debtors 11,109 7,990
Cash at bank 111,441 107,845
122,550 115,835
CREDITORS
Amounts falling due within one year 95,517 98,112
NET CURRENT ASSETS 27,033 17,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,488,708

2,479,411

CAPITAL AND RESERVES
Called up share capital 572,000 572,000
Fair value reserve 7 1,131,709 1,131,709
Retained earnings 7 784,999 775,702
SHAREHOLDERS' FUNDS 2,488,708 2,479,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:





A Brown - Director


NORTH MANCHESTER PROPERTIES LIMITED (REGISTERED NUMBER: 02358837)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

North Manchester Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents received during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, Fixtures & Fittings - 15% on reducing balance

Investment properties
The investment properties relate to properties held to earn rentals and for capital appreciation. The properties are initially measured at cost, including transaction costs.The properties are subsequently measured at fair value.

The investment property valuations are based on an open market value and carried out by the directors on a regular basis. Deferred tax and costs to realise property values are provided, where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Investments
Fixed asset investments are included at the lower of cost or fair value

Dividends
In order to present a true and fair view the company discloses as a liability the dividend declared and paid after the year end. This dividend is based on the results for the year and consequently the directors believe it is appropriate to account for it in the year it is earned. This is not in accordance with current UK GAAP which requires companies only to account for dividends when paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

NORTH MANCHESTER PROPERTIES LIMITED (REGISTERED NUMBER: 02358837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 18,866
DEPRECIATION
At 1 April 2023 18,777
Charge for year 13
At 31 March 2024 18,790
NET BOOK VALUE
At 31 March 2024 76
At 31 March 2023 89

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 170,150
NET BOOK VALUE
At 31 March 2024 170,150
At 31 March 2023 170,150

The company owns the share capital in the following property management companies at cost :

2023 2022
£ £
Sixth Property Company Limited (70,000 £1 ordinary shares ) 170,150 170,150
170,150 170,150

6. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,291,449
NET BOOK VALUE
At 31 March 2024 2,291,449
At 31 March 2023 2,291,449

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 2,291,449

NORTH MANCHESTER PROPERTIES LIMITED (REGISTERED NUMBER: 02358837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. INVESTMENT PROPERTIES - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,159,740 1,159,740

Investment property was valued on a fair value basis on 31 March 2024 by the directors .

7. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 775,702 1,131,709 1,907,411
Profit for the year 72,217 72,217
Dividends (62,920 ) (62,920 )
At 31 March 2024 784,999 1,131,709 1,916,708

Included in reserves is a non-distributable reserve of £1,131,709 arising on the revaluation of the properties to fair value. (2023 £1,131,709)