Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2023-01-01false00falsetrue 06272087 2023-01-01 2023-12-31 06272087 2022-01-01 2022-12-31 06272087 2023-12-31 06272087 2022-12-31 06272087 c:Director12 2023-01-01 2023-12-31 06272087 d:OfficeEquipment 2023-01-01 2023-12-31 06272087 d:OfficeEquipment 2023-12-31 06272087 d:OfficeEquipment 2022-12-31 06272087 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06272087 d:CurrentFinancialInstruments 2023-12-31 06272087 d:CurrentFinancialInstruments 2022-12-31 06272087 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06272087 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06272087 d:RetainedEarningsAccumulatedLosses 2023-12-31 06272087 d:RetainedEarningsAccumulatedLosses 2022-12-31 06272087 c:FRS102 2023-01-01 2023-12-31 06272087 c:Audited 2023-01-01 2023-12-31 06272087 c:FullAccounts 2023-01-01 2023-12-31 06272087 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 06272087 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06272087 7 2023-01-01 2023-12-31 06272087 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 06272087









Manchester Pride Events Limited
(A company limited by guarantee)









Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Manchester Pride Events Limited
 
(A company limited by guarantee)
Registered number: 06272087

Statement of Financial Position
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
9,533
8,248

Current assets
  

Debtors: amounts falling due within one year
 4 
289,536
96,070

Cash at bank and in hand
 6 
7,294
330,464

  
296,830
426,534

Creditors: amounts falling due within one year
 7 
(297,421)
(427,168)

Net current liabilities
  
 
 
(591)
 
 
(634)

Total assets less current liabilities
  
8,942
7,614

Provisions for liabilities
  

Deferred tax
  
(2,383)
(2,062)

Net assets
  
 
 
6,559
 
 
5,552


Capital and reserves
  

Profit and loss account
  
6,559
5,552


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Harrison
Director

Date: 25 September 2024

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

1.


General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 53 Portland Street, Manchester, M1 3LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate reserves to continue in operational existence for the foreseeable future. The directors therefore consider it appropriate to adopt the going concern basis of accounting in preparing these financial statements. 

 
2.3

Revenue recognition

Turnover represents sales to external customers at invoiced amounts exclusive of Value Added Tax. Turnover consists of sponsorship and entrance fees to the Pride Festival. Income from sponsorship is recognised on an accruals basis and entrance fees are recognised when the Pride event occurs. 

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
 
Page 2

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.3
Revenue recognition (continued)


Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Page 4

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at their transaction price after transaction costs.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 5

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Gift Aid

The company makes an annual donation of surplus profits to its parent charity, Manchester Pride Limited, a registered charity. Gift aid is recognised when it becomes legally payable. A deed of convenant is in place. 

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 -£NIL).


4.


Debtors

2023
2022
£
£


Trade debtors
13,875
94,280

Amounts owed by group undertakings
237,001
-

Other debtors
30,751
-

Prepayments and accrued income
7,909
1,790

289,536
96,070


Page 6

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
9,737


Additions
4,443



At 31 December 2023

14,180



Depreciation


At 1 January 2023
1,489


Charge for the year
3,158



At 31 December 2023

4,647



Net book value



At 31 December 2023
9,533



At 31 December 2022
8,248


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,294
330,464



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
219,704
92,980

Amounts owed to group undertakings
-
292,879

Other taxation and social security
-
5,099

Accruals and deferred income
77,717
36,210

297,421
427,168


Page 7

 
Manchester Pride Events Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023


8.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


9.


Related party transactions

The company has taken advantage of the exemption in Section 1A of FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ not to disclose transactions with members of the group headed by Manchester Pride Limited on the grounds that it is a wholly owned subsidiary company and is included within the consolidated accounts.   


10.


Controlling party

The ultimate controlling party is considered to be Manchester Pride Limited by virtue of it being the sole member of Manchester Pride Events Limited. Manchester Pride Limited is a company limited by guarantee (company number 04671318) and a registered charity (charity number 1117848) and is incorporated in England and Wales. 
Manchester Pride Limited is the parent company of the largest and smallest group of undertakings to consolidate these financial statements. The registered address of Manchester Pride Limited is 53 Portland Street Manchester, M1 3LF. Copies of the consolidated financial statements of Manchester Pride Limited can be obtained from Companies House.  

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by Helen Besant Roberts (senior statutory auditor) on behalf of Hurst Accountants Limited.

 
Page 8