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Registration number: 12475317

Monk & Partners (SEV) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Monk & Partners (SEV) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Monk & Partners (SEV) Limited

Company Information

Directors

Mr David Alan Monk

Ms Jodie Macmillan

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 (SEV) 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 (SEV) Limited for the year ended 31 March 2023 as set out on pages 3 to 8 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 (SEV) 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 (SEV) Limited and state those matters that we have agreed to state to the Board of Directors of Monk & Partners (SEV) 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 (SEV) 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 (SEV) 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 profit of Monk & Partners (SEV) Limited. You consider that Monk & Partners (SEV) 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 (SEV) 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 (SEV) Limited

(Registration number: 12475317)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

350,000

-

Current assets

 

Debtors

5

2

7,750

Cash at bank and in hand

 

749

4,832

 

751

12,582

Creditors: Amounts falling due within one year

6

(83,963)

(14,300)

Net current liabilities

 

(83,212)

(1,718)

Total assets less current liabilities

 

266,788

(1,718)

Creditors: Amounts falling due after more than one year

6

(199,496)

-

Net assets/(liabilities)

 

67,292

(1,718)

Capital and reserves

 

Called up share capital

200

200

Retained earnings

67,092

(1,918)

Shareholders' funds/(deficit)

 

67,292

(1,718)

 

Monk & Partners (SEV) Limited

(Registration number: 12475317)
Balance Sheet as at 31 March 2023

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 (SEV) 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 United Kingdom.

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

These financial statements were authorised for issue by the Board on 1 November 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 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.

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.

 

Monk & Partners (SEV) Limited

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

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

4

Investments

2023
£

2022
£

Investments in subsidiaries

350,000

-

Subsidiaries

£

Cost or valuation

Additions

350,000

At 31 March 2023

350,000

Carrying amount

At 31 March 2023

350,000

At 31 March 2022

-

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Monk & Partners (SEV) Limited

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

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Monk Investment Management Ltd

6 Houndiscombe Road, Plymouth, Devon, PL4 6HH

United Kingdom

Ordinary

100%

0%

Subsidiary undertakings

Monk Investment Management Ltd

The principal activity of Monk Investment Management Ltd is chartered surveyors..

5

Debtors

2023
£

2022
£

Trade debtors

-

250

Other debtors

2

7,500

2

7,750

 

Monk & Partners (SEV) Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

25

378

Amounts owed to group undertakings and undertakings in which the company has a participating interest

3,105

-

Taxation and social security

 

2,964

6,461

Accruals and deferred income

 

2,208

2,010

Other creditors

 

75,661

5,451

 

83,963

14,300

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

99,349

-

Other non-current financial liabilities

 

100,147

-

 

199,496

-