REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 |
FOR |
MANCHESTER CHEMICALS AND PIGMENTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 |
FOR |
MANCHESTER CHEMICALS AND PIGMENTS LTD |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MANCHESTER CHEMICALS AND PIGMENTS LTD |
COMPANY INFORMATION |
for the Year Ended 31st December 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
BALANCE SHEET |
31st December 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
BALANCE SHEET - continued |
31st December 2024 |
The financial statements were approved by the director and authorised for issue on |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2024 |
1. | STATUTORY INFORMATION |
Manchester Chemicals and pigments Limited is a private company, limited by shares, registered in England and Wales, registration number 04959251. Company's registered office address is 100 Barbirolli Square, Manchester M2 3BD. The principal place of business is 14-20 George street, Alderley Edge, SK9 7EJ. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax. |
Turnover principally consists of income from the rental of commercial property. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Plant & Machinery | - | 10% on reducing balance to the estimated realisable value |
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period which they arise. |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise of cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1st January 2024 |
Additions |
At 31st December 2024 |
DEPRECIATION |
At 1st January 2024 |
Charge for year |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st January 2024 |
Revaluations | 148,307 |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
Investment properties are valued to fair value at 31st December 2024, based on a valuation undertaken by the directors. |
The current value is deemed to be, by the directors, a reasonable approximation of the asset's market value at the year end. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
MANCHESTER CHEMICALS AND PIGMENTS LTD (REGISTERED NUMBER: 04959251) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Barclays Bank PLC dated 13th October 2016, created a charge over all the property of the company. This contains negative pledges. |
Barclays Bank PLC dated 27th May 2016, created fixed and floating charges over all the property and undertakings of the company. This also contains negative pledges. |
Barclays Security Trustee Limited dated 14th October 2024, created fixed and floating charges over all the property and undertakings of the company. This also contains negative pledges. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1.00 | 1 | 1 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included in other debtors is a loan due from the directors of £50,000 (2023 - £65,000). This loan is an |
interest free loan and is repayable on demand. |
12. | ULTIMATE PARENT COMPANY |
The ultimate controlling party was RSCEB & Co Limited, incorporated in England and Wales. |