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Registration number: 11187498

Monogram Capital Management Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Monogram Capital Management Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Monogram Capital Management Ltd

Company Information

Chairman

Mr Alan David Ewart

Directors

Mr Charles Alfred Richard Gillams

Mr Philip Simon Cammerman

Mr Martin Steven Mark Lamb

Registered office

Meon House
Stratford Road, Mickleton
Chipping Campden
Gloucestershire
GL55 6SU

Accountants

Saul Fairholm Limited
12 Tentercroft Street
Lincoln
Lincolnshire
LN5 7DB

 

Monogram Capital Management Ltd

(Registration number: 11187498)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

12,498

34,430

Current assets

 

Debtors

6

829

1,255

Cash at bank and in hand

 

67,847

70,779

 

68,676

72,034

Creditors: Amounts falling due within one year

7

(7,865)

(9,789)

Net current assets

 

60,811

62,245

Total assets less current liabilities

 

73,309

96,675

Creditors: Amounts falling due after more than one year

7

(30,040)

(21,277)

Net assets

 

43,269

75,398

Capital and reserves

 

Called up share capital

108,152

108,152

Share premium reserve

175,000

175,000

Retained earnings

(239,883)

(207,754)

Shareholders' funds

 

43,269

75,398

For the financial year ending 30 June 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 October 2023 and signed on its behalf by:
 

.........................................
Mr Charles Alfred Richard Gillams
Director

 

Monogram Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
Meon House
Stratford Road, Mickleton
Chipping Campden
Gloucestershire
GL55 6SU

These financial statements were authorised for issue by the Board on 19 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Monogram Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors with contracts of employment) during the year was 5 (2022 - 6).

 

Monogram Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

-

2,000


 

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

319,980

319,980

Disposals

(307,482)

(307,482)

At 30 June 2023

12,498

12,498

Amortisation

At 1 July 2022

285,550

285,550

Amortisation charge

1,050

1,050

Amortisation eliminated on disposals

(286,600)

(286,600)

At 30 June 2023

-

-

Carrying amount

At 30 June 2023

12,498

12,498

At 30 June 2022

34,430

34,430

6

Debtors

2023
£

2022
£

Trade debtors

829

1,255

 

Monogram Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

2,896

Trade creditors

 

5,466

4,389

Taxation and social security

 

-

504

Other creditors

 

2,399

2,000

 

7,865

9,789


 

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

30,040

21,277

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

30,040

21,277

2023
£

2022
£

Current loans and borrowings

Other borrowings

-

2,896

Other borrowings

Subordinated loan notes are denominated in £ with a nominal interest rate of 8%, and the final instalment is due on 31 December 2025. The carrying amount at year end is £30,040 (2022 - £Nil).