REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 |
FOR |
MODERN MONTESSORI INTERNATIONAL |
LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 |
FOR |
MODERN MONTESSORI INTERNATIONAL |
LIMITED |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31st December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MODERN MONTESSORI INTERNATIONAL |
LIMITED |
COMPANY INFORMATION |
for the year ended 31st December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
Priestley House |
Priestley Gardens |
Chadwell Heath |
Essex, RM6 4SN |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
BALANCE SHEET |
31st December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
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 |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31st December 2022 |
1. | STATUTORY INFORMATION |
Modern Montessori International Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
No depreciation is charged on freehold property since in the opinion of the directors, the charge is covered by the level of expenditure on the buildings upkeep. |
Taxation |
Taxation for the year 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. |
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 year 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31st December 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st January 2022 |
and 31st December 2022 |
AMORTISATION |
At 1st January 2022 |
Charge for year |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st January 2022 |
Additions |
At 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
Charge for year |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
No depreciation is charged on freehold property since in the opinion of the directors, the charge is covered by the level of expenditure on the buildings upkeep. |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31st December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 787,112 | 800,480 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
The bank loans were secured on the company's freehold properties at 46 Leslie Grove, Surrey by a debenture incorporating a fixed and floating charge over all current and future assets of the company. |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31st December 2022 |
11. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 1,135 | 1,364 |
Deferred |
tax |
£ |
Balance at 1st January 2022 |
Provided during year | ( |
) |
Balance at 31st December 2022 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1st January 2022 |
Deficit for the year | ( |
) |
Dividends | ( |
) |
At 31st December 2022 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31st December 2022 and 31st December 2021: |
2022 | 2021 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
MODERN MONTESSORI INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 03400504) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31st December 2022 |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
The loans are interest free and repayable on demand. |
15. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £18,000 were paid to the directors . |
16. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature, our auditors provide general tax advice and assist us in the preparation of the financial statements and in the preparation and submission of returns to the tax authorities. |
17. | ULTIMATE CONTROLLING PARTY |
T Chandran and B Durgude control the company by virtue of their shareholdings. |