Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseNo description of principal activity1313falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02721871 2023-07-01 2024-06-30 02721871 2022-07-01 2023-06-30 02721871 2024-06-30 02721871 2023-06-30 02721871 c:Director1 2023-07-01 2024-06-30 02721871 d:PlantMachinery 2023-07-01 2024-06-30 02721871 d:PlantMachinery 2024-06-30 02721871 d:PlantMachinery 2023-06-30 02721871 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02721871 d:OfficeEquipment 2023-07-01 2024-06-30 02721871 d:OfficeEquipment 2024-06-30 02721871 d:OfficeEquipment 2023-06-30 02721871 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02721871 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02721871 d:CurrentFinancialInstruments 2024-06-30 02721871 d:CurrentFinancialInstruments 2023-06-30 02721871 d:Non-currentFinancialInstruments 2024-06-30 02721871 d:Non-currentFinancialInstruments 2023-06-30 02721871 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02721871 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02721871 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 02721871 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02721871 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 02721871 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 02721871 d:ShareCapital 2024-06-30 02721871 d:ShareCapital 2023-06-30 02721871 d:RetainedEarningsAccumulatedLosses 2024-06-30 02721871 d:RetainedEarningsAccumulatedLosses 2023-06-30 02721871 c:FRS102 2023-07-01 2024-06-30 02721871 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02721871 c:FullAccounts 2023-07-01 2024-06-30 02721871 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02721871 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 02721871 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 02721871 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 02721871 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 02721871 2 2023-07-01 2024-06-30 02721871 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 02721871









LOOMLAND (MANCHESTER) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
LOOMLAND (MANCHESTER) LIMITED
REGISTERED NUMBER: 02721871

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
79,399
95,622

  
79,399
95,622

Current assets
  

Debtors: amounts falling due within one year
 5 
26,566
28,865

Cash at bank and in hand
 6 
3,809
12,290

  
30,375
41,155

Creditors: amounts falling due within one year
 7 
(134,994)
(174,181)

Net current liabilities
  
 
 
(104,619)
 
 
(133,026)

Total assets less current liabilities
  
(25,220)
(37,404)

Creditors: amounts falling due after more than one year
 8 
(11,333)
(16,176)

  

Net liabilities
  
(36,553)
(53,580)


Capital and reserves
  

Called up share capital 
  
501
501

Profit and loss account
  
(37,054)
(54,081)

  
(36,553)
(53,580)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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: 


Page 1

 
LOOMLAND (MANCHESTER) LIMITED
REGISTERED NUMBER: 02721871
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

Mr N French
Director

Date: 6 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Loomland (Manchester) Limited (company number 02721871) is a private company limited by shares, registered in England and Wales.  Its registered office is at Unit 4, Vaughan Street Industrial Estate, Vaughan Street, Manchester, M12 5BT.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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:

Plant and machinery
-
5% Straight Line
Office equipment
-
20% Straight Line

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.

 
2.9

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.

Page 4

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.


3.


Employees

2024
2023
£
£

Wages and salaries
234,791
256,153

Social security costs
13,636
11,972

Cost of defined contribution scheme
4,156
16,334

252,583
284,459


The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 5

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
164,000
7,012
171,012


Additions
-
541
541


Disposals
(11,000)
-
(11,000)



At 30 June 2024

153,000
7,553
160,553



Depreciation


At 1 July 2023
69,243
6,147
75,390


Charge for the year on owned assets
7,540
974
8,514


Disposals
(2,750)
-
(2,750)



At 30 June 2024

74,033
7,121
81,154



Net book value



At 30 June 2024
78,967
432
79,399



At 30 June 2023
94,757
865
95,622


5.


Debtors

2024
2023
£
£


Trade debtors
23,597
19,069

Prepayments and accrued income
2,969
9,796

26,566
28,865


Page 6

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,809
12,290

3,809
12,290



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,000
8,006

Trade creditors
50,455
55,830

Other taxation and social security
34,444
44,309

Obligations under finance lease and hire purchase contracts
849
6,777

Other creditors
42,006
58,084

Accruals and deferred income
1,240
1,175

134,994
174,181



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,333
15,327

Net obligations under finance leases and hire purchase contracts
-
849

11,333
16,176


Included in bank loans after more than one year is an unsecured bounce back loan. Interest is charged at the rate of 2.5% and is fully backed by the UK government under the BBLS rules.

Page 7

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,000
8,006


6,000
8,006

Amounts falling due 1-2 years

Bank loans
11,333
15,327


11,333
15,327



17,333
23,333



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
849
6,777

Between 1-5 years
-
849

849
7,626


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £4,156 (2023 - £16,334). Contributions totalling £12,493 (2023 - £10,941) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
LOOMLAND (MANCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Related party transactions

At 30 June 2024 company owed £17,085 to the director (2023: £35,002). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.
 

 
Page 9