Registered number 08560633
MANCHESTER YOUTH ACADEMY LTD
Report and Accounts
30 June 2024
MANCHESTER YOUTH ACADEMY LTD Report and accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Directors' report | 1 |
| Profit and loss account | 2 |
| Balance sheet | 3 |
| Statement of changes in equity | 4 |
| Notes to the accounts | 5 |
MANCHESTER YOUTH ACADEMY LTD Company Information
Directors
A QAYUM A JAHED K ULLAH E MUMTAZ Secretary A QAYUM
Accountants
NURBHAI SONS LTD 189 MAULDETH ROAD BURNAGE MANCHESTER M19 1BA
Registered office
161 BERESFORD ROAD MANCHESTER M13 0TA
Registered number 08560633
1
MANCHESTER YOUTH ACADEMY LTD Registered number: 08560633 Directors' Report
The directors present their report and accounts for the year ended 30 June 2024.
Principal activities
The company's principal activity during the year continued to be …
Directors
The following persons served as directors during the year:
A QAYUM A JAHED K ULLAH E MUMTAZ
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 1 December 2024 and signed on its behalf.
A QAYUM Director
2
MANCHESTER YOUTH ACADEMY LTD Income and Income Account for the year ended 30 June 2024
| Grants and Income Cost of sales Gross profit Administrative expenses Balance Balance Before Tax Balance Balance for the year |
2024 £ 428,299 (135,365) 292,934 (297,547) (4,613) (4,613) - (4,613) |
2023 £ 288,799 (73,708) 215,091 (194,039) 21,052 21,052 - 21,052 |
|---|---|---|
3
MANCHESTER YOUTH ACADEMY LTD Registered number: 08560633 Balance Sheet as at 30 June 2024
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 3 Net current assets Net assets Capital and reserves Balance and loss account funds to be spent |
2024 £ 29,953 (600) 29,353 29,353 29,353 29,353 |
2023 £ 34,566 (600) 33,966 33,966 33,966 33,966 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A QAYUM Director Approved by the board on 1 December 2024
4
MANCHESTER YOUTH ACADEMY LTD Statement of Changes in Equity for the year ended 30 June 2024
| At 1 July 2022 Balance At 30 June 2023 At 1 July 2023 Balance At 30 June 2024 |
Share capital £ - - - - |
Share premium £ - - - - |
Re- valuation reserve £ - - - - |
Profit and loss account £ 12,914 21,052 33,966 33,966 (4,613) 29,353 |
Total £ 12,914 21,052 33,966 33,966 (4,613) 29,353 |
|---|---|---|---|---|---|
5
MANCHESTER YOUTH ACADEMY LTD Notes to the Accounts for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Freehold buildings | over 50 years |
|---|---|
| Leasehold land and buildings | over the lease term |
| Plant and machinery | over 5 years |
| Fixtures, fittings, tools and equipment | over 5 years |
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related i i d
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
6
MANCHESTER YOUTH ACADEMY LTD Notes to the Accounts for the year ended 30 June 2024
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be ti t d li bl
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
| 2 Employees Average number of persons employed by the company |
2024 Number 8 |
2023 Number 1 |
|---|---|---|
7
MANCHESTER YOUTH ACADEMY LTD Notes to the Accounts for the year ended 30 June 2024
| 3 | Creditors: amounts falling due within one year | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 600 | 600 |
6 Guarantee
The company is limited by guarantee and does not have a share capital.
7 list of grant and donations
Grants and Commissioning 201,394 bookings income 87,405 total 288,799
8
MANCHESTER YOUTH ACADEMY LTD Detailed income and Expenditure for the year ended 30 June 2024
This schedule does not form part of the statutory accounts
| Grant and Income Cost of sales Gross profit Administrative expenses Balance Balance Before Tax |
2024 £ 428,299 (135,365) 292,934 (297,547) (4,613) (4,613) |
2023 £ 288,799 (73,708) 215,091 (194,039) 21,052 21,052 |
|---|---|---|
9
MANCHESTER YOUTH ACADEMY LTD Detailed income and expenditure for the year ended 30 June 2024
This schedule does not form part of the statutory accounts
| Grant and Income Grant and Income Cost of sales Purchases Other direct costs Administrative expenses Employee costs: Volunteer Expenses Wages Coaching Fees Motor expenses Premises costs: Other Expenses Hire Venue Bills Light and heat General administrative expenses: Telephone and fax Stationery and printing Bank charges Insurance Equipment hire/Ground Rent Repairs and Capital Investment Sundry expenses Legal and professional costs: Accountancy fees Consultancy fees Other legal and professional |
2024 £ 428,299 67,505 67,860 135,365 16,220 92,130 22,235 10,888 141,473 5,500 3,762 4,738 14,109 28,109 494 6,681 507 2,492 2,441 64,122 2,206 78,943 600 48,000 422 49,022 297,547 |
2023 £ 288,799 12,363 61,345 73,708 53,436 33,096 2,021 94 88,647 51,112 2,500 819 9,276 63,707 367 2,015 595 1,872 - 33,392 2,844 41,085 600 - - 600 194,039 |
|---|---|---|
10
1[ST] JULY 2024
Financial Year Ended 30 June 2024
Independent Examiner’s Report to the Trustees
I report to the trustees on my examination of the accounts of Manchester Youth Academy Ltd for the year ended 30 June 2024.
Responsibilities and Basis of Report
The charity’s trustees are responsible for preparing the accounts per the Charities Act 2011. I carried out my examination under section 145 of the Act and used the relevant Charity Commission Directions.
Independent Examiner’s Statement
No material matters have come to my attention which would indicate that:
-
the accounting records were not maintained properly;
-
the accounts are materially inconsistent with those records; or
-
requirements regarding the form and content of accounts have not been
met.
Additionally, there are no matters to which attention should be drawn for a proper understanding of the accounts.
HUSSAIN NURBHAI DIRECTOR ICPA- NUR010