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REGISTERED NUMBER: 03400504 (England and Wales)















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: Dr T Chandran
B Durgude
Mrs M Bourke-Gawley





SECRETARY: B Durgude





REGISTERED OFFICE: 46 Leslie Grove
Croydon
Surrey
CR0 6TJ





REGISTERED NUMBER: 03400504 (England and Wales)





AUDITORS: Chegwidden & Co
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 4 974 1,310
Tangible assets 5 2,011,225 2,012,432
2,012,199 2,013,742

CURRENT ASSETS
Debtors 6 206,690 189,837
Cash at bank and in hand 86,483 165,555
293,173 355,392
CREDITORS
Amounts falling due within one year 7 129,679 118,409
NET CURRENT ASSETS 163,494 236,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,175,693

2,250,725

CREDITORS
Amounts falling due after more than one
year

8

(970,135

)

(1,002,832

)

PROVISIONS FOR LIABILITIES 11 (1,135 ) (1,364 )
NET ASSETS 1,204,423 1,246,529

CAPITAL AND RESERVES
Called up share capital 378,250 378,250
Retained earnings 12 826,173 868,279
SHAREHOLDERS' FUNDS 1,204,423 1,246,529

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30th September 2023 and were signed on its behalf by:





Dr T Chandran - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - No Depreciation
Plant and machinery etc - 25% on reducing balance

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 24 (2021 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2022
and 31st December 2022 4,464
AMORTISATION
At 1st January 2022 3,154
Charge for year 336
At 31st December 2022 3,490
NET BOOK VALUE
At 31st December 2022 974
At 31st December 2021 1,310

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2022 2,005,251 63,937 2,069,188
Additions - 767 767
At 31st December 2022 2,005,251 64,704 2,069,955
DEPRECIATION
At 1st January 2022 - 56,756 56,756
Charge for year - 1,974 1,974
At 31st December 2022 - 58,730 58,730
NET BOOK VALUE
At 31st December 2022 2,005,251 5,974 2,011,225
At 31st December 2021 2,005,251 7,181 2,012,432

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 10,582 11,697
Other debtors 196,108 178,140
206,690 189,837

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 44,867 49,380
Trade creditors 3,597 9,908
Taxation and social security 22,518 33,798
Other creditors 58,697 25,323
129,679 118,409

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 970,135 1,002,832

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 21,500 21,500
Between one and five years - 12,542
21,500 34,042

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 1,015,002 1,052,212

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 1,364
Provided during year (229 )
Balance at 31st December 2022 1,135

12. RESERVES
Retained
earnings
£   

At 1st January 2022 868,279
Deficit for the year (24,106 )
Dividends (18,000 )
At 31st December 2022 826,173

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Harris (Senior Statutory Auditor)
for and on behalf of Chegwidden & Co

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
£    £   
Dr T Chandran
Balance outstanding at start of year 17,721 (2,524 )
Amounts advanced 245 20,245
Amounts repaid (18,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (34 ) 17,721

Mrs M Bourke-Gawley
Balance outstanding at start of year (807 ) (327 )
Amounts advanced 3,012 990
Amounts repaid (2,313 ) (1,470 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (108 ) (807 )

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.