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Registration number: 09487318

Monk & Partners Professional Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Monk & Partners Professional Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Monk & Partners Professional Limited

Company Information

Directors

Mr J H Slade

Mr D A Monk

Ms Jodie Macmillan

Company secretary

Mr J H Slade

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Monk & Partners Professional Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Monk & Partners Professional Limited for the year ended 31 March 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Monk & Partners Professional Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Monk & Partners Professional Limited and state those matters that we have agreed to state to the Board of Directors of Monk & Partners Professional Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monk & Partners Professional Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Monk & Partners Professional Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Monk & Partners Professional Limited. You consider that Monk & Partners Professional Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Monk & Partners Professional Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

1 November 2023

 

Monk & Partners Professional Limited

(Registration number: 09487318)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

312

656

Current assets

 

Debtors

5

21,648

24,158

Cash at bank and in hand

 

133

4,080

 

21,781

28,238

Creditors: Amounts falling due within one year

6

(3,485)

(4,658)

Net current assets

 

18,296

23,580

Net assets

 

18,608

24,236

Capital and reserves

 

Called up share capital

105

105

Retained earnings

18,503

24,131

Shareholders' funds

 

18,608

24,236

For the financial year ending 31 March 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Ms Jodie Macmillan
Director

   
     
 

Monk & Partners Professional Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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 is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
4 The Crescent
Plymouth
Devon
PL1 3AB

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.

Going concern

The financial statements have been prepared on a going concern basis this year, while the directors consider the options available. However the surveying trade has ceased, so it is possible that in the near future the company will wind down operations completely and be dissolved.

Revenue recognition

Turnover comprises the fair value of the consideration received for the provision of surveying services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.

 

Monk & Partners Professional Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Monk & Partners Professional Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

1,043

1,043

At 31 March 2023

1,043

1,043

Depreciation

At 1 April 2022

387

387

Charge for the year

344

344

At 31 March 2023

731

731

Carrying amount

At 31 March 2023

312

312

At 31 March 2022

656

656

5

Debtors

2023
£

2022
£

Trade debtors

-

500

Prepayments

-

1,500

Other debtors

21,648

22,158

21,648

24,158

 

Monk & Partners Professional Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

67

Taxation and social security

-

1,775

Accruals and deferred income

2,218

2,010

Other creditors

1,267

806

3,485

4,658