Irish Town Manchester Limited 13781331 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of licenced premises Digita Accounts Production Advanced 6.30.9574.0 true true 13781331 2023-02-01 2024-01-31 13781331 2024-01-31 13781331 core:CurrentFinancialInstruments 2024-01-31 13781331 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13781331 core:FurnitureFittingsToolsEquipment 2024-01-31 13781331 bus:SmallEntities 2023-02-01 2024-01-31 13781331 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13781331 bus:FilletedAccounts 2023-02-01 2024-01-31 13781331 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13781331 bus:RegisteredOffice 2023-02-01 2024-01-31 13781331 bus:Director1 2023-02-01 2024-01-31 13781331 bus:Director2 2023-02-01 2024-01-31 13781331 bus:Director3 2023-02-01 2024-01-31 13781331 bus:Director4 2023-02-01 2024-01-31 13781331 bus:Director5 2023-02-01 2024-01-31 13781331 bus:Director6 2023-02-01 2024-01-31 13781331 bus:Director7 2023-02-01 2024-01-31 13781331 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13781331 core:FurnitureFittings 2023-02-01 2024-01-31 13781331 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13781331 core:OfficeEquipment 2023-02-01 2024-01-31 13781331 1 2023-02-01 2024-01-31 13781331 countries:England 2023-02-01 2024-01-31 13781331 2023-01-31 13781331 core:FurnitureFittingsToolsEquipment 2023-01-31 13781331 2021-12-03 2023-01-31 13781331 2023-01-31 13781331 core:CurrentFinancialInstruments 2023-01-31 13781331 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13781331 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13781331

Irish Town Manchester Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Irish Town Manchester Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Irish Town Manchester Limited

Company Information

Directors

P Stanion

M Connolly

M Forde

B Kennedy

M Logan

R Morris

MD Gorman

Registered office

1 Irish Town Way
Cheetham Hill
Manchester
M8 0AE

Accountants

McKellens Limited
Chartered Accountants
11 Riverview
The Embankment Business Park
Vale Road
Heaton Mersey
Stockport
SK4 3GN

 

Irish Town Manchester Limited

(Registration number: 13781331)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,260

3,288

Current assets

 

Stocks

5

19,506

12,897

Debtors

6

35,091

30,521

Cash at bank and in hand

 

8,773

37,336

 

63,370

80,754

Creditors: Amounts falling due within one year

7

(61,450)

(92,347)

Net current assets/(liabilities)

 

1,920

(11,593)

Net assets/(liabilities)

 

4,180

(8,305)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

4,179

(8,306)

Shareholders' funds/(deficit)

 

4,180

(8,305)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

.........................................
B Kennedy
Director

.........................................
M Logan
Director

 
     
 

Irish Town Manchester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Irish Town Way
Cheetham Hill
Manchester
M8 0AE

These financial statements were authorised for issue by the Board on 17 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Irish Town Manchester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% per annum on a straight line basis

Office Equipment

20% per annum on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 17).

 

Irish Town Manchester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

4,109

4,109

At 31 January 2024

4,109

4,109

Depreciation

At 1 February 2023

821

821

Charge for the year

1,028

1,028

At 31 January 2024

1,849

1,849

Carrying amount

At 31 January 2024

2,260

2,260

At 31 January 2023

3,288

3,288

5

Stocks

2024
£

2023
£

Goods for resale

19,506

12,897

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

13,671

26,941

Amounts owed by related parties

20,167

-

Prepayments

 

1,253

3,580

 

35,091

30,521

 

Irish Town Manchester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

14,627

5,273

Taxation and social security

25,586

17,343

Accruals and deferred income

8,638

12,369

Other creditors

12,599

18,096

Amounts due to related parties

-

39,266

61,450

92,347

8

Parent and ultimate parent undertaking

The company's immediate parent is The Irish Diaspora Foundation, a charitable company incorporated in England & Wales.