31/03/2021
2021-03-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
false
No description of principal activities is disclosed
2020-04-01
Sage Accounts Production 21.0 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
03865815
2020-04-01
2021-03-31
03865815
2021-03-31
03865815
2020-03-31
03865815
2019-04-01
2020-03-31
03865815
2020-03-31
03865815
core:FurnitureFittingsToolsEquipment
2020-04-01
2021-03-31
03865815
core:OnerousContractsExcludingVacantProperties
2020-04-01
2021-03-31
03865815
bus:Director1
2020-04-01
2021-03-31
03865815
core:FurnitureFittingsToolsEquipment
2020-03-31
03865815
core:FurnitureFittingsToolsEquipment
2021-03-31
03865815
core:WithinOneYear
2021-03-31
03865815
core:WithinOneYear
2020-03-31
03865815
core:AfterOneYear
2020-03-31
03865815
core:AfterOneYear
2021-03-31
03865815
core:ShareCapital
2021-03-31
03865815
core:ShareCapital
2020-03-31
03865815
core:RetainedEarningsAccumulatedLosses
2021-03-31
03865815
core:RetainedEarningsAccumulatedLosses
2020-03-31
03865815
core:BetweenOneFiveYears
2021-03-31
03865815
core:FurnitureFittingsToolsEquipment
2020-03-31
03865815
core:LeasedAssetsHeldAsLessee
core:PlantMachinery
2021-03-31
03865815
core:LeasedAssetsHeldAsLessee
core:PlantMachinery
2020-03-31
03865815
bus:SmallEntities
2020-04-01
2021-03-31
03865815
bus:AuditExemptWithAccountantsReport
2020-04-01
2021-03-31
03865815
bus:FullAccounts
2020-04-01
2021-03-31
03865815
bus:SmallCompaniesRegimeForAccounts
2020-04-01
2021-03-31
03865815
bus:PrivateLimitedCompanyLtd
2020-04-01
2021-03-31
03865815
core:ComputerEquipment
2020-04-01
2021-03-31
03865815
core:ComputerEquipment
2020-03-31
03865815
core:ComputerEquipment
2021-03-31
03865815
core:AllAssociates
2020-04-01
2021-03-31
Company registration number:
03865815
0161-Manc Limited
Trading as
Identity
Unaudited filleted financial statements
31 March 2021
0161-Manc Limited
Contents
Accountants report
Statement of financial position
Notes to the financial statements
0161-Manc Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of 0161-Manc Limited
Year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 0161-Manc Limited for the year ended 31 March 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of 0161-Manc Limited, as a body, in accordance with the terms of our engagement letter dated 3 March 2011. Our work has been undertaken solely to prepare for your approval the financial statements of 0161-Manc Limited and state those matters that we have agreed to state to the board of directors of 0161-Manc Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 0161-Manc Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that 0161-Manc Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 0161-Manc Limited. You consider that 0161-Manc Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of 0161-Manc Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
Deansfield House
98 Lancaster Road
Newcastle under Lyme
Staffordshire
ST5 1DS
Date: 26 January 2022
0161-Manc Limited
Statement of financial position
31 March 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
128,537
|
|
|
|
107,076
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
128,537
|
|
|
|
107,076
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
22,250
|
|
|
|
20,000
|
|
|
Debtors
|
|
6
|
9,801
|
|
|
|
7,325
|
|
|
Cash at bank and in hand
|
|
|
80,392
|
|
|
|
58,350
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
112,443
|
|
|
|
85,675
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
137,365)
|
|
|
|
(
136,145)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current liabilities
|
|
|
|
|
(
24,922)
|
|
|
|
(
50,470)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
103,615
|
|
|
|
56,606
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
77,288)
|
|
|
|
(
55,721)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
26,327
|
|
|
|
885
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
10,100
|
|
|
|
10,100
|
Profit and loss account
|
|
|
|
|
16,227
|
|
|
|
(
9,215)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
26,327
|
|
|
|
885
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2021 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 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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 January 2022
, and are signed on behalf of the board by:
Mr Leo Stanley
Director
Company registration number:
03865815
0161-Manc Limited
Notes to the financial statements
Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.
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'.
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.
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 terms 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.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
10 %
|
straight line
|
|
Computer equipment
|
-
|
33 %
|
straight line
|
|
|
|
|
|
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2020:
5
).
5.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Computer equipment
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2020
|
167,293
|
1,451
|
168,744
|
|
|
|
|
|
Additions
|
40,813
|
95
|
40,908
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2021
|
208,106
|
1,546
|
209,652
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2020
|
60,392
|
1,276
|
61,668
|
|
|
|
|
|
Charge for the year
|
19,241
|
206
|
19,447
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2021
|
79,633
|
1,482
|
81,115
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2021
|
128,473
|
64
|
128,537
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2020
|
106,901
|
175
|
107,076
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plant and machinery
|
|
|
|
|
|
|
|
£
|
|
At 31 March 2021
|
|
|
|
|
|
9,801
|
|
|
|
|
|
|
|
_______
|
|
At 31 March 2020
|
|
|
|
|
|
16,532
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
8,594
|
5,992
|
|
Prepayments and accrued income
|
|
-
|
126
|
|
Rent deposit
|
|
1,207
|
1,207
|
|
|
|
_______
|
_______
|
|
|
|
9,801
|
7,325
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
2,841
|
2,643
|
|
Bounceback Loan
|
|
8,664
|
(-)
|
|
Trade creditors
|
|
47,294
|
23,955
|
|
Funding circle loan
|
|
10,000
|
10,000
|
|
Social security and other taxes
|
|
5,168
|
796
|
|
Obligations under hire purchase
|
|
6,731
|
6,731
|
|
Wages and salaries
|
|
1,250
|
(-)
|
|
Director loan accounts
|
|
27,367
|
64,518
|
|
Other loans - J Crouch
|
|
7,577
|
15,377
|
|
Company credit card
|
|
7,400
|
6,245
|
|
Accruals and deferred income
|
|
13,073
|
5,880
|
|
|
|
_______
|
_______
|
|
|
|
137,365
|
136,145
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The bank loan is secured by way of a persoanl gaurantee from the director in the sum of £20,000.
8.
Creditors: amounts falling due after more than one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
7,048
|
10,087
|
|
Bounceback loan
|
|
41,336
|
(-)
|
|
Obligations under hire purchase
|
|
3,071
|
9,801
|
|
Funding circle loan
|
|
25,833
|
35,833
|
|
|
|
_______
|
_______
|
|
|
|
77,288
|
55,721
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The bank loan is secured by way of a persoanl gaurantee from the director in the sum of £20,000.
9.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
3,720
|
2,607
|
Later than 1 year and not later than 5 years |
3,410
|
- |
|
_______ |
_______ |
|
7,130
|
2,607
|
|
_______ |
_______ |
|
|
|
10.
Related party transactions
Leo Stanley is a related party by virtue of his directorship and shareholding in the company.During the year Mr Stanley withdrew net monies amounting to £37,152 (2020: £41,778).As at 31 March 2021 the company owed Mr Stanley £27,367 (2020: £64,518).
11.
Controlling party
Mr Leo Stanley
is the ultimate controlling party by virtue of his majority shareholding in the company.
12.
Current year material events
The director has considered the impact of the COVID-19 crisis on the business operations and the impact of the financial performance of the company. The company has taken advantage of Government support packages including a Bounceback loan, Coronavirus Job Retention Scheme, Coronavirus Small Business Grant and HMRC's VAT Payments Deferral Scheme. As a result of the above, the director believes that the company is well placed to manage its business risks successfully despite the uncertain economic outlook.