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REGISTERED NUMBER: 13876925 (England and Wales)















Unaudited Financial Statements

for the Period 27 January 2022 to 31 December 2022

for

MONTREAUX CLAPHAM DEVELOPMENTS LTD

MONTREAUX CLAPHAM DEVELOPMENTS LTD (REGISTERED NUMBER: 13876925)






Contents of the Financial Statements
for the Period 27 January 2022 to 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MONTREAUX CLAPHAM DEVELOPMENTS LTD

Company Information
for the Period 27 January 2022 to 31 December 2022







DIRECTORS: D Burke
A M Urban





REGISTERED OFFICE: Spitalfields House
Stirling Way
Borehamwood
WD6 2FX





REGISTERED NUMBER: 13876925 (England and Wales)





ACCOUNTANTS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

MONTREAUX CLAPHAM DEVELOPMENTS LTD (REGISTERED NUMBER: 13876925)

Balance Sheet
31 December 2022

Notes £   
CURRENT ASSETS
Stocks 4 5,787,916
Debtors 5 143,579
Cash at bank 109
5,931,604
CREDITORS
Amounts falling due within one year 6 (6,007,996 )
NET CURRENT LIABILITIES (76,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(76,392

)

CAPITAL AND RESERVES
Called up share capital 8 100
Retained earnings (76,492 )
SHAREHOLDERS' FUNDS (76,392 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:




A M Urban - Director



D Burke - Director


MONTREAUX CLAPHAM DEVELOPMENTS LTD (REGISTERED NUMBER: 13876925)

Notes to the Financial Statements
for the Period 27 January 2022 to 31 December 2022

1. STATUTORY INFORMATION

Montreaux Clapham Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present condition.

MONTREAUX CLAPHAM DEVELOPMENTS LTD (REGISTERED NUMBER: 13876925)

Notes to the Financial Statements - continued
for the Period 27 January 2022 to 31 December 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MONTREAUX CLAPHAM DEVELOPMENTS LTD (REGISTERED NUMBER: 13876925)

Notes to the Financial Statements - continued
for the Period 27 January 2022 to 31 December 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
The company is dependant for its ability to continue as a going concern on the continuing support of its director . The director is confident that the business condition will improve and consider that it is appropriate for the financial statements to be prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. STOCKS
£   
Work-in-progress 5,787,916

Work in progress include capitalised loan interest of £253,047.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by participating interests 91,281
Other debtors 52,298
143,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 5,872,760
Trade creditors 58,736
Other creditors 76,500
6,007,996

7. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loan 5,872,760

The bank loans have fixed and floating charges over the property and the undertakings of the company.

MONTREAUX CLAPHAM DEVELOPMENTS LTD (REGISTERED NUMBER: 13876925)

Notes to the Financial Statements - continued
for the Period 27 January 2022 to 31 December 2022

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
50 A share 1 50
50 B Share 1 50
100

The following shares were allotted and fully paid for cash at par during the period:

50 A share shares of 1 each
50 B Share shares of 1 each

9. RELATED PARTY DISCLOSURES

Included in debtors falling due within one year is an amount of £91,281 owed by a connected company.

These companies are connected by virtue of having a director in common. Amounts outstanding arise by virtue of financing transactions. These amounts are unsecured, interest free and due within one year.

Included in creditors falling due within one year is an amount of £2,685,000 owed to a connected company

These companies are connected by virtue of having a director in common. Amounts outstanding arise by virtue of financing transactions. These amounts are unsecured, interest free per Joint Venture agreement clause 6 and due within one year.