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REGISTERED NUMBER: OC372721 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Montague Asset Management LLP

Montague Asset Management LLP (Registered number: OC372721)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Montague Asset Management LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mr S M Clark
The Churchmanor Estates Company Plc
Mrs F A Clark





REGISTERED OFFICE: Montague House
3 Black Horse Lane
Ipswich
Suffolk
IP1 2EF





REGISTERED NUMBER: OC372721 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Montague Asset Management LLP (Registered number: OC372721)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,915 146,342
Investments 5 1 101
109,916 146,443

CURRENT ASSETS
Stocks 230,000 129,587
Debtors 6 349,534 474,029
579,534 603,616
CREDITORS
Amounts falling due within one year 7 253,349 304,813
NET CURRENT ASSETS 326,185 298,803
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

436,101

445,246

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

20,075

29,220

MEMBERS' OTHER INTERESTS
Capital accounts 416,026 416,026
436,101 445,246

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 20,075 29,220
Members' other interests 416,026 416,026
436,101 445,246

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Montague Asset Management LLP (Registered number: OC372721)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 8 September 2023 and were signed by:




Mr S M Clark - Designated member




Mrs F A Clark - Designated member


Montague Asset Management LLP (Registered number: OC372721)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Montague Asset Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2022 - 4 ) .

Montague Asset Management LLP (Registered number: OC372721)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 113,590 18,129 156,137 287,856
Additions 188 - - 188
At 31 March 2023 113,778 18,129 156,137 288,044
DEPRECIATION
At 1 April 2022 46,860 12,798 81,856 141,514
Charge for year 16,712 1,332 18,571 36,615
At 31 March 2023 63,572 14,130 100,427 178,129
NET BOOK VALUE
At 31 March 2023 50,206 3,999 55,710 109,915
At 31 March 2022 66,730 5,331 74,281 146,342

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 101
Disposals (100 )
At 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 101

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 270,000 270,000
Other debtors 9,655 44,807
Prepayments 69,879 159,222
349,534 474,029

Montague Asset Management LLP (Registered number: OC372721)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 211,802 236,727
Trade creditors 7,136 10,990
Social security and other taxes 3,499 3,366
VAT 19,845 8,394
Other creditors 737 25,717
Accruals and deferred income 10,330 19,619
253,349 304,813

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 20,075 29,220

Falling due within one year 20,075 29,220

Loans and other debts due to members rank pari passu with unsecured creditors and may be set-off against amounts due from members included in debtors. Members' other interests rank pari passu with unsecured creditors.