Manchester Residential Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05324246 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019

FOR

MANCHESTER RESIDENTIAL MANAGEMENT

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Eppie

N Eppie

SECRETARY:

N Eppie

REGISTERED OFFICE:

22 Church Street

Eccles

Manchester

Lancashire

M30 0DF

REGISTERED NUMBER:

05324246 (England and Wales)

ACCOUNTANTS:

KAY JOHNSON GEE LIMITED

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Tangible assets

4

8,550

9,027

CURRENT ASSETS

Debtors

5

17,339

62,118

Cash at bank

63,098

57,221

80,437

119,339

CREDITORS

Amounts falling due within one year

6

(60,388

)

(72,405

)

NET CURRENT ASSETS

20,049

46,934

TOTAL ASSETS LESS CURRENT LIABILITIES

28,599

55,961

PROVISIONS FOR LIABILITIES

(1,454

)

-

NET ASSETS

27,145

55,961

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

27,045

55,861

SHAREHOLDERS' FUNDS

27,145

55,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and authorised for issue by the Board of Directors on 21st October 2019 and were signed on its behalf by:

N Eppie - Director

1.	STATUTORY INFORMATION

Manchester Residential Management Limited is a private company, limited by share capital, registered in

England and Wales. The company's registered number is 05324246 and the registered office and principal place

of business is 22 Church Street, Manchester, M30 0DF.

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.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and

the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or

receivable, excluding discounts, rebated, value added tax and other sales taxes. The following criteria must also

be met before turnover is recognised:

-

the amount of turnover can be measured reliably;

-

it is probable that the Company will receive the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably and;

-

the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on 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:

Computer equipment

25% on reducing balance

Fixtures and fittings

25% on reducing balance

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 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.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of

the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank.

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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2018

8,918

15,056

23,974

Additions

-

2,373

2,373

At 31st March 2019

8,918

17,429

26,347

DEPRECIATION

At 1st April 2018

5,264

9,683

14,947

Charge for year

913

1,937

2,850

At 31st March 2019

6,177

11,620

17,797

NET BOOK VALUE

At 31st March 2019

2,741

5,809

8,550

At 31st March 2018

3,654

5,373

9,027

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,339

61,542

Other debtors

12,000

576

17,339

62,118

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

23,144

34,669

Taxation and social security

14,301

15,262

Other creditors

22,943

22,474

60,388

72,405

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

-

100

70

Ordinary "A"

£1

70

-

30

Ordinary "B"

£1

30

-

100

100

On 23rd November 2018, 100 Ordinary shares were reclassified into 70 Ordinary A Shares and 30 Ordinary B

shares.

8.	RELATED PARTY DISCLOSURES

At the year end the company owed the directors £19,355 (2018 - £19,147). This balances relates to an interest

free loan account.

During the year the company issued dividends to the directors totalling £40,000 (2018 - £10,000).