Manchester Professional Services Limited - Accounts

Registered number

01997391

Manchester Professional Services Limited

Report and Financial Statements

31 March 2019

Manchester Professional Services Limited
Registered number:				01997391
Directors' Report			and Strategic Report
The directors present their report and financial statements for the year ended 31 March 2019.
Principal activities
The Company's principal activity during the year continued to be the provision of Company secretarial, legal and accountancy services.
Review of the business
The results for the year are set out on page 5. After the recharge from the Council of the City of Manchester, there is no profit or loss, which is as intended. The Directors foresee no major risks that the Company is exposed to. It is expected that the coming year will be similar to 2018/19. There are no events since the year end which need to be reported.
Future developments & Strategic Report
No strategic changes are intended by the Company.
Directors
The following persons served as directors during the year:
	Carol Culley
	Cllr. Sue Murphy
None of the Directors who held office at the end of the year had any disclosable interest in the share of the Company.
Shares
The whole of the issued capital is beneficially owned by the Council of the City of Manchester.
Results and Dividends
The net profit on ordinary activities after taxation amounts to £Nil (2018 £Nil), which is to be transferred to reserves. The Directors do not recommend the payment of a final dividend for the financial year.
Events since the balance sheet date
There are no events since the year-end to be reported.
Company Secretary
Ms E Treacy resigned on 12th June 2018
Directors' responsibilities

The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and
●	they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board by written procedure on 29 October 2019 and signed by its order.

Ms C Culley

Director

Manchester Professional Services Limited

Independent auditor's report

to the member of Manchester Professional Services Limited

Opinion

We have audited the financial statements of Manchester Professional Services Limited for the year ended 31 March 2019 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the company's member, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 March 2019 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
●	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
●	the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The other information comprises the information included in the report and financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit; or

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Stephen Knowles Bsc FCA
(Senior Statutory Auditor)		Flexspace Evans Business Centre
for and on behalf of		Evans Business Centre
APPLEBY & WOOD		Bolton
Accountants and Statutory Auditors		Greater Manchester
29 October 2019		BL3 2NZ

Manchester Professional Services Limited
Income Statement
for the year ended 31 March 2019
Notes						2019		2018
£							£
Turnover				2		82,140		75,896
Cost of sales						(65,590)		(61,386)
Gross profit						16,550		14,510
Administrative expenses						(16,550)		(14,510)
Operating profit				3		0		0
Profit on ordinary activities before taxation						0		0
Tax on profit on ordinary activities				4		0		0
Profit for the financial year						0		0
Continuing operations
None of the company's activities were acquired or discontinued during the above two financial years.
The notes on pages 9 to 11 form part of these Financial Statements.

Manchester Professional Services Limited
Statement of Financial Position
as at 31 March 2019
Notes				2019			2018
£					£
Current assets
Debtors	5		11,822			85,564
Cash at bank and in hand			122,384			58,657
			134,206			144,221
Creditors: amounts falling due within one year	6		(113,005)			(123,020)
Net current assets				21,201			21,201
Total assets less current liabilities				21,201			21,201
Creditors: amounts falling due after more than one year	7			(20,000)			(20,000)
Net assets				1,201			1,201
Capital and reserves
Called up share capital	8			100			100
Profit and loss account	9			1,101			1,101
Total equity				1,201			1,201
Ms C Culley
Director
Approved by the board on 29 October 2019
The notes on pages 9 to 11 form part of these Financial Statements.

Manchester Professional Services Limited
Statement of Changes in Equity
for the year ended 31 March 2019
Share			Share		Other		Profit		Total
capital			premium		reserves		and loss
account
£			£		£		£		£
At 1 April 2017		100		-		-		1,101		1,201
At 31 March 2018		100		-		-		1,101		1,201
At 1 April 2018		100		-		-		1,101		1,201
At 31 March 2019		100		-		-		1,101		1,201

Manchester Professional Services Limited
Statement of Cash Flows
for the year ended 31 March 2019
Notes			2019		2018
£				£
Operating activities
Profit for the financial year			-		-
Adjustments for:
Decrease/(increase) in debtors			73,742		(54,243)
(Decrease)/increase in creditors			(10,015)		6,899
			63,727		(47,344)
Cash generated by/(used in) operating activities			63,727		(47,344)
Net cash generated/(used)
Cash generated by/(used in) operating activities			63,727		(47,344)
Net cash generated/(used)			63,727		(47,344)
Cash and cash equivalents at 1 April			58,657		106,001
Cash and cash equivalents at 31 March			122,384		58,657
Cash and cash equivalents comprise:
Cash at bank			122,384		58,657

Manchester Professional Services Limited
Notes to the Accounts
for the year ended 31 March 2019
1	Summary of significant accounting policies
	Basis of preparation
	The financial statements 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. This basis has been adopted by the Board as a result of its forward review of the Company's activities for the next year. The Board believes this basis is acceptable for at least the next 12 months.
	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 rendering of services. 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 costs.
	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
	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. The loan shown in note 7 is from the parent body. Any discount would be immaterial and is not included.
	Taxation
	There is no charge for taxation based on the result for the year and taking into account taxation deferred bacause of timing differences between the treatment of certain items for taxation and accounting purposes.
2	Analysis of turnover					2019		2018
£							£
	Admin & Secretarial support					82,140		75,896
	By geographical market:
	UK					82,140		75,896
	Staff numbers and costs
	None of the Directors received any emoluments from the Company during the year. There are 2 (2018 2) Directors.
3	Operating profit					2019		2018
£							£
	This is stated after charging:
	Auditor's remuneration for audit services					1,950		1,800
	Auditor's remuneration for other services					260		240
	Auditor's remuneration for clearance previous year					-		1,165
4	Taxation					2019		2018
£							£
	Analysis of charge in period
	Tax on profit on ordinary activities					-		-
	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
						2019		2018
£							£
	Profit on ordinary activities before tax					-		-
	Standard rate of corporation tax in the UK					20%		20%
£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					-		-
	Effects of:
	Current tax charge for period					-		-
	Factors that may affect future tax charges
	There are no factors that may affect future tax charges.
5	Debtors					2019		2018
£							£
	Trade debtors					11,385		82,454
	Other taxes and social security costs - VAT					-		2,727
	Prepayments and accrued income					437		383
						11,822		85,564
6	Creditors: amounts falling due within one year					2019		2018
£							£
	Amounts owed to group undertakings and undertakings in which the company has a participating interest (Note 14)					107,145		120,980
	Other taxes and social security costs					2,886		-
	Accruals and deferred income					2,974		2,040
						113,005		123,020
7	Creditors: amounts falling due after one year					2019		2018
£							£
	Loans					20,000		20,000
	Amounts represent a loan which is repayable to the Council of the City of Manchester and is interest free with no set date for repayment.
8	Share capital	Nominal		2019		2019		2018
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100
9	Profit and loss account					2019		2018
£							£
	At 1 April					1,101		1,101
	At 31 March					1,101		1,101
10	Presentation currency
	The financial statements are presented in Sterling.
11	Legal form of entity and country of incorporation
	Manchester Professional Services Limited is a private company limited by shares and incorporated in England.
12	Principal place of business
	The address of the company's principal place of business and registered office is: P O Box 532, Room 208 Town Hall, Albert Square, MANCHESTER M60 2LA.
13	Related party transactions
	The Directors have taken advantage of the exemption in Financial Reporting Standards, and have not disclosed related party transactions with parent and fellow subsidiary undertakings. Most of the customers are related parties with Manchester City Council having a shareholding in them or significant influence .
14	Ultimate controlling party
	The Company is a wholly owned subsidiary undertaking fo the Council of the City of Manchester, which is regarded as the ultimate parent body.