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REGISTERED NUMBER: 11217473 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRIDE PROPERTIES MANCHESTER LIMITED

PRIDE PROPERTIES MANCHESTER LIMITED (REGISTERED NUMBER: 11217473)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRIDE PROPERTIES MANCHESTER LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Ms B Tyler





REGISTERED OFFICE: National House
80-82 Wellington Road North
Stockport
Cheshire
SK4 1HW





REGISTERED NUMBER: 11217473 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PRIDE PROPERTIES MANCHESTER LIMITED (REGISTERED NUMBER: 11217473)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,793 14,274
Investment property 5 715,000 1,090,000
720,793 1,104,274

CURRENT ASSETS
Debtors 6 337,047 50,000
Cash at bank 13,635 18,795
350,682 68,795
CREDITORS
Amounts falling due within one year 7 697,112 1,272,121
NET CURRENT LIABILITIES (346,430 ) (1,203,326 )
TOTAL ASSETS LESS CURRENT LIABILITIES 374,363 (99,052 )

CREDITORS
Amounts falling due after more than one year 8 15,194 21,666
NET ASSETS/(LIABILITIES) 359,169 (120,718 )

CAPITAL AND RESERVES
Called up share capital 10 500,100 100
Retained earnings (140,931 ) (120,818 )
SHAREHOLDERS' FUNDS 359,169 (120,718 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





Ms B Tyler - Director


PRIDE PROPERTIES MANCHESTER LIMITED (REGISTERED NUMBER: 11217473)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Pride Properties Manchester Limited is a private company, limited by shares, registered in England and Wales, registration number 11217473. The address of the registered office and principal place of business is National House, 80-82 Wellington Road North, Stockport, Cheshire, United Kingdom, SK4 1HW.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover principally consists of income from the rental of commercial property. Turnover is recognised on a straight line basis.

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:

- Fixtures and Fittings - 25% Straight Line

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of a tangible fixed 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 tangible fixed asset, the Company estimates the recoverable amount of the cash-generating unit to which the tangible fixed 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.

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 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.

PRIDE PROPERTIES MANCHESTER LIMITED (REGISTERED NUMBER: 11217473)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 41,127
DEPRECIATION
At 1 April 2023 26,853
Charge for year 8,481
At 31 March 2024 35,334
NET BOOK VALUE
At 31 March 2024 5,793
At 31 March 2023 14,274

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,090,000
Disposals (375,000 )
At 31 March 2024 715,000
NET BOOK VALUE
At 31 March 2024 715,000
At 31 March 2023 1,090,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 33,765
Cost 681,235
715,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings 50,000 50,000
Other debtors 287,047 -
337,047 50,000

PRIDE PROPERTIES MANCHESTER LIMITED (REGISTERED NUMBER: 11217473)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other debtors is made up of a loan owing to the Director; this loan has been settled in full post year end.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 684,801 1,182,711
Other creditors 2,311 79,410
697,112 1,272,121

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 15,194 21,666

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Parent undertaking 684,801 -

The amount owed to parent undertaking is secured by a legal charge dated 14 December 2023.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
500,100 Ordinary £1.00 500,100 100

During the year, the parent subscribed for 500,000 shares at par.

11. RELATED PARTY DISCLOSURES

At the reporting date the company owed £684,801 to companies under common control (2023 - £1,182,711).

At the reporting date the company was owed £50,000 from companies under common control (2023 - £50,000).

12. ULTIMATE CONTROLLING PARTY

The parent company is Succession Estates Limited incorporated in England and Wales whose registered office is 3 Garth Drive, Chester, England, CH2 2AF.

The ultimate controlling party is Mr M Noblett, by virtue of their controlling interest in Succession Estates Limited.