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Registration number: 00698916

Leaway (Manchester) Limited

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 30 July 2024

 

Leaway (Manchester) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Leaway (Manchester) Limited

Company Information

Directors

W.M. Hammond

J.S. Hammond

Company secretary

J.S. Hammond

Registered office

10 Dane Bank Road
Lymm
Cheshire
WA13 9DH

Bankers

National Westminster Bank Plc.,
Trafford Park Branch,
Third Avenue,
Trafford Park,
Manchester.
M17 1NW

Accountants

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

 

Leaway (Manchester) Limited

(Registration number: 00698916)
Balance Sheet as at 30 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,892

2,687

Current assets

 

Stocks

5

298,000

381,057

Debtors

6

14,370

12,728

Cash at bank and in hand

 

1,696,905

1,868,060

 

2,009,275

2,261,845

Creditors: Amounts falling due within one year

7

(28,687)

(11,031)

Net current assets

 

1,980,588

2,250,814

Net assets

 

1,982,480

2,253,501

Capital and reserves

 

Called up share capital

8

14,020

14,020

Retained earnings

1,968,460

2,239,481

Shareholders' funds

 

1,982,480

2,253,501

For the financial period ending 30 July 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 period 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 4 June 2025 and signed on its behalf by:
 

.........................................
W.M. Hammond
Director

   
     
 

Leaway (Manchester) Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 July 2024

1

General information

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

The address of its registered office is:
10 Dane Bank Road
Lymm
Cheshire
WA13 9DH

These financial statements were authorised for issue by the Board on 4 June 2025.

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 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.

 

Leaway (Manchester) Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 July 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

Other property, plant and equipment

25% on a reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

Nil

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Leaway (Manchester) Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 July 2024

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 period, was 2 (2023 - 2).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

9,216

9,216

Disposals

(5,416)

(5,416)

At 30 July 2024

3,800

3,800

Depreciation

At 1 August 2023

6,529

6,529

Charge for the period

672

672

Eliminated on disposal

(5,293)

(5,293)

At 30 July 2024

1,908

1,908

Carrying amount

At 30 July 2024

1,892

1,892

At 31 July 2023

2,687

2,687

 

Leaway (Manchester) Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 July 2024

5

Stocks

2024
£

2023
£

Land on Hand

250,000

200,000

Work in progress

48,000

181,057

298,000

381,057

6

Debtors

2024
£

2023
£

Other debtors

12,000

12,000

Prepayments

2,370

728

14,370

12,728

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,376

1,149

Taxation and social security

9,866

1,989

Accruals and deferred income

1,362

3,950

Other creditors

16,083

3,943

28,687

11,031

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

14,020

14,020

14,020

14,020