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Registered number: 07520700
The Accountancy People Manchester Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
The Accountancy People Manchester Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 07520700
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 92,585 97,001
92,585 97,001
CURRENT ASSETS
Debtors 6 172,795 132,932
Cash at bank and in hand 5,245 51,690
178,040 184,622
Creditors: Amounts Falling Due Within One Year 7 (149,318 ) (142,266 )
NET CURRENT ASSETS (LIABILITIES) 28,722 42,356
TOTAL ASSETS LESS CURRENT LIABILITIES 121,307 139,357
NET ASSETS 121,307 139,357
CAPITAL AND RESERVES
Called up share capital 8 360 360
Profit and Loss Account 120,947 138,997
SHAREHOLDERS' FUNDS 121,307 139,357
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Sheard
Director
29 May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
The Accountancy People Manchester Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07520700 . The registered office is Phoenix House, 2 Huddersfield Road, Stalybridge, Cheshire, SK15 2QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 16)
17 16
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 114,730
As at 31 December 2024 114,730
Amortisation
As at 1 January 2024 114,730
As at 31 December 2024 114,730
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 121,318 57,251 178,569
Additions - 6,932 6,932
As at 31 December 2024 121,318 64,183 185,501
Depreciation
As at 1 January 2024 36,661 44,907 81,568
Provided during the period 6,930 4,418 11,348
As at 31 December 2024 43,591 49,325 92,916
Net Book Value
As at 31 December 2024 77,727 14,858 92,585
As at 1 January 2024 84,657 12,344 97,001
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 131,726 108,604
Prepayments and accrued income 39,680 22,846
Other debtors 1,389 1,482
172,795 132,932
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,051 18,981
Bank loans and overdrafts 23,292 -
Corporation tax 35,821 48,837
Other taxes and social security 7,042 7,955
VAT 46,025 44,870
Other creditors 2,439 -
Accruals and deferred income 11,648 21,623
149,318 142,266
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 360 360
9. Ultimate Controlling Party
The company is controlled by Mr J E Sheard and Mrs J Sheard by virtue of their interest in 89% of the issued share capital. 
The ultimate controlling part is Mr J E Sheard and Mrs J Sheard.
Page 4