Manchester Plant Training Limited 31/01/2023 iXBRL

Manchester Plant Training Limited 31/01/2023 iXBRL

MANCHESTER PLANT TRAINING LIMITED - Company Information

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31/01/2023 2023-01-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-02-01 Sage Accounts Production 21.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 12422588 2022-02-01 2023-01-31 12422588 2023-01-31 12422588 2022-01-31 12422588 2021-02-01 2022-01-31 12422588 2022-01-31 12422588 2021-01-31 12422588 core:PlantMachinery 2022-02-01 2023-01-31 12422588 bus:Director1 2022-02-01 2023-01-31 12422588 bus:Director2 2022-02-01 2023-01-31 12422588 bus:Director3 2022-02-01 2023-01-31 12422588 core:PlantMachinery 2022-01-31 12422588 core:PlantMachinery 2023-01-31 12422588 core:WithinOneYear 2023-01-31 12422588 core:WithinOneYear 2022-01-31 12422588 bus:AllOrdinaryShares 2022-02-01 2023-01-31 12422588 bus:AllOrdinaryShares 2021-02-01 2022-01-31 12422588 core:ShareCapital 2023-01-31 12422588 core:ShareCapital 2022-01-31 12422588 core:RetainedEarningsAccumulatedLosses 2023-01-31 12422588 core:RetainedEarningsAccumulatedLosses 2022-01-31 12422588 core:AcceleratedTaxDepreciationDeferredTax 2023-01-31 12422588 core:AcceleratedTaxDepreciationDeferredTax 2022-01-31 12422588 core:PlantMachinery 2022-01-31 12422588 bus:Director1 2022-01-31 12422588 bus:Director1 2023-01-31 12422588 bus:Director2 2022-01-31 12422588 bus:Director2 2023-01-31 12422588 bus:Director3 2022-01-31 12422588 bus:Director3 2023-01-31 12422588 bus:Director1 2021-01-31 12422588 bus:Director1 2022-01-31 12422588 bus:Director2 2022-01-31 12422588 bus:Director3 2022-01-31 12422588 bus:Director1 2021-02-01 2022-01-31 12422588 bus:Director2 2021-02-01 2022-01-31 12422588 bus:Director3 2021-02-01 2022-01-31 12422588 bus:SmallEntities 2022-02-01 2023-01-31 12422588 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 12422588 bus:FullAccounts 2022-02-01 2023-01-31 12422588 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12422588 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
Company registration number: 12422588
Manchester Plant Training Limited
Unaudited filleted financial statements
31 January 2023
Manchester Plant Training Limited
Contents
Statement of financial position
Notes to the financial statements
Manchester Plant Training Limited
Statement of financial position
31 January 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 6 34,834 40,981
_______ _______
34,834 40,981
Current assets
Debtors 7 47,174 55,120
Cash at bank and in hand 25,317 19,314
_______ _______
72,491 74,434
Creditors: amounts falling due
within one year 8 ( 81,314) ( 68,968)
_______ _______
Net current (liabilities)/assets ( 8,823) 5,466
_______ _______
Total assets less current liabilities 26,011 46,447
Provisions for liabilities ( 6,618) ( 7,786)
_______ _______
Net assets 19,393 38,661
_______ _______
Capital and reserves
Called up share capital 150 150
Profit and loss account 19,243 38,511
_______ _______
Shareholders funds 19,393 38,661
_______ _______
For the year ending 31 January 2023 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 May 2023 , and are signed on behalf of the board by:
Mrs J Winward
Director
Company registration number: 12422588
Manchester Plant Training Limited
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 28 Laburnum Avenue, Failsworth, Manchester, M35 0NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 148,232 116,111
Other pension costs 5,118 3,669
_______ _______
153,350 119,780
_______ _______
5. Dividends
Equity dividends
2023 2022
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 75,000 82,500
_______ _______
6. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 February 2022 and 31 January 2023 50,750 50,750
_______ _______
Depreciation
At 1 February 2022 9,769 9,769
Charge for the year 6,147 6,147
_______ _______
At 31 January 2023 15,916 15,916
_______ _______
Carrying amount
At 31 January 2023 34,834 34,834
_______ _______
At 31 January 2022 40,981 40,981
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 46,489 53,473
Other debtors 685 1,647
_______ _______
47,174 55,120
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 9,514 11,414
Corporation tax 24,751 25,018
Social security and other taxes 45,680 29,815
Other creditors 1,369 2,721
_______ _______
81,314 68,968
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023 2022
£ £
Included in provisions (note ) 6,618 7,786
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2023 2022
£ £
Accelerated capital allowances 6,618 7,786
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs J Winward ( 1,032) 580 ( 452)
Mr S Winward ( 1,033) 567 ( 466)
Mr C Winward ( 656) 205 ( 451)
_______ _______ _______
( 2,721) 1,352 ( 1,369)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs J Winward ( 230) ( 802) ( 1,032)
Mr S Winward - ( 1,033) ( 1,033)
Mr C Winward - ( 656) ( 656)
_______ _______ _______
( 230) ( 2,491) ( 2,721)
_______ _______ _______