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Company Registration No. 04676263 (England and Wales)
Montrose Media Limited Unaudited accounts for the year ended 28 February 2023
Montrose Media Limited Unaudited accounts Contents
Page
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Montrose Media Limited Company Information for the year ended 28 February 2023
Director
Matthew Davey
Secretary
J W Meredith
Company Number
04676263 (England and Wales)
Registered Office
UNIT 9 JUBILEE WAY FAVERSHAM KENT ME13 8GD ENGLAND
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Montrose Media Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
65,333 
42,439 
Current assets
Debtors
67,350 
99,463 
Cash at bank and in hand
205,884 
150,058 
273,234 
249,521 
Creditors: amounts falling due within one year
(126,118)
(154,666)
Net current assets
147,116 
94,855 
Total assets less current liabilities
212,449 
137,294 
Creditors: amounts falling due after more than one year
(22,500)
(32,500)
Net assets
189,949 
104,794 
Capital and reserves
Called up share capital
74 
74 
Profit and loss account
189,875 
104,720 
Shareholders' funds
189,949 
104,794 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 November 2023 and were signed on its behalf by
Matthew Davey Director Company Registration No. 04676263
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Montrose Media Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Montrose Media Limited is a private company, limited by shares, registered in England and Wales, registration number 04676263. The registered office is UNIT 9, JUBILEE WAY, FAVERSHAM, KENT, ME13 8GD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% pa straight line basis
Motor vehicles
25% pa straight line basis
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees operated under the Government's NEST scheme. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to the COVID-19 pandemic have been credited to profit and loss account in the periods when received from HM Government.
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Montrose Media Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
177,876 
16,233 
194,109 
Additions
45,358 
- 
45,358 
Disposals
(19,043)
- 
(19,043)
At 28 February 2023
204,191 
16,233 
220,424 
Depreciation
At 1 March 2022
140,907 
10,763 
151,670 
Charge for the year
21,017 
1,368 
22,385 
On disposals
(18,964)
- 
(18,964)
At 28 February 2023
142,960 
12,131 
155,091 
Net book value
At 28 February 2023
61,231 
4,102 
65,333 
At 28 February 2022
36,969 
5,470 
42,439 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,134 
- 
Trade debtors
63,102 
96,757 
Accrued income and prepayments
1,284 
1,376 
Other debtors
1,830 
1,330 
67,350 
99,463 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
12,855 
15,518 
VAT
- 
19,120 
Trade creditors
32,683 
11,678 
Taxes and social security
18,936 
14,347 
Other creditors
588 
568 
Loans from directors
50,241 
63,322 
Accruals
10,815 
30,113 
126,118 
154,666 
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Montrose Media Limited Notes to the Accounts for the year ended 28 February 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,500 
32,500 
Bank Loans taken out under the Government Bounce Back Loan initiative launched to help businesses recover during and after the COVID-19 pandemic. Two loans taken out in May and November 2020 for £40000 and £10000 respectively.The first year has no repayments and is interest free. Repayments commence after one year and are spread over five years and have an annual interest charge of 2.5%. The first repayment was made in May 2021. The loans are fully underwritten by the UK Government.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
74 Ordinary shares of £1 each
74 
74 
9
Pension commitments
National Employment Savings Trust ('NEST') The Company has an auto-enrolment pension scheme which is administered by NEST. The National Employment Savings Trust ('NEST') is a statutory, contributory, defined contribution scheme, governed by the National Employment Savings Trust Order 2010 and operated by a non-departmental public body as Trustee, the NEST Corporation. Membership is available under the auto-enrolment scheme where contributions are made by employees and the Company, although employees are able to opt out. In the year the Company contributed £2031 (2022: £1931) on behalf of 4 (2022: 4) employees
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 28 February 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
1,708 
4,191 
Later than one year and not later than five years
- 
4,191 
1,708 
8,382 
11
Controlling party
The ultimate controlling party throughout the year was: M Davey
12
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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