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Registered Number: 02870678
England and Wales

 

 

 

THE MANCHESTER PROPERTY COMPANY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 509,740    467,125 
Investments 4 140,000   
649,740    467,125 
Current assets      
Debtors 440,139    649,119 
Cash at bank and in hand 113,095    189,927 
553,234    839,046 
Creditors: amount falling due within one year (32,631)   (3,107)
Net current assets 520,603    835,939 
 
Total assets less current liabilities 1,170,343    1,303,064 
Creditors: amount falling due after more than one year (993,551)   (993,551)
Net assets 176,792    309,513 
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account 176,790    309,511 
Shareholders' funds 176,792    309,513 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 October 2024 and were signed on its behalf by:


-------------------------------
Mr James Paul Scott
Director
1
General Information
The Manchester Property Company Limited is a private company, limited by shares, registered in England and Wales, registration number 02870678, registration address C/o Stonebridge Accountants, 19a, Chorley Old Road, Bolton, BL1 3AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Plant and Machinery 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Improvements to property 0% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £   £
At 01 April 2023 686,373    18,012    38,093    29,396    771,874 
Additions       51,509    51,509 
Disposals        
At 31 March 2024 686,373    18,012    38,093    80,905    823,383 
Depreciation
At 01 April 2023 249,716    17,588    37,445      304,749 
Charge for year 8,733    64    97      8,894 
On disposals        
At 31 March 2024 258,449    17,652    37,542      313,643 
Net book values
Closing balance as at 31 March 2024 427,924    360    551    80,905    509,740 
Opening balance as at 01 April 2023 436,657    424    648    29,396    467,125 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023  
Additions 140,000    140,000 
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 140,000    140,000 

5.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2