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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of Mon Choisi Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 08010851
MON CHOISI LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2023
MON CHOISI LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF MON CHOISI LIMITED
YEAR ENDED 30 SEPTEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Mon Choisi Limited for the year ended 30 September 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors
Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN
17 April 2024
MON CHOISI LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
1,244,722
1,229,278
Investments
5
301,156
301,156
--------------
--------------
1,545,878
1,530,434
Current assets
Cash at bank and in hand
59,884
58,964
Creditors: amounts falling due within one year
152,658
110,915
------------
------------
Net current liabilities
92,774
51,951
--------------
--------------
Total assets less current liabilities
1,453,104
1,478,483
Creditors: amounts falling due after more than one year
12,652
20,659
Provisions
Taxation including deferred tax
11,771
11,771
--------------
--------------
Net assets
1,428,681
1,446,053
--------------
--------------
Capital and reserves
Called up share capital
101
101
Share premium account
301,056
301,056
Other reserves
48,944
48,944
Profit and loss account
1,078,580
1,095,952
--------------
--------------
Shareholders funds
1,428,681
1,446,053
--------------
--------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
MON CHOISI LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
30 September 2023
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
A A Noorbaccus
Director
Company registration number: 08010851
MON CHOISI LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
£
Cost
At 1 October 2022
1,229,278
Additions
15,634
--------------
At 30 September 2023
1,244,912
--------------
Depreciation
At 1 October 2022
Charge for the year
190
--------------
At 30 September 2023
190
--------------
Carrying amount
At 30 September 2023
1,244,722
--------------
At 30 September 2022
1,229,278
--------------
Tangible assets held at valuation
The property held at the start of the accounting period was valued last by Taylors Business Surveyors and Valuers in July 2012.
5. Investments
£
Cost
At 1 October 2022 and 30 September 2023
301,156
------------
Impairment
At 1 October 2022 and 30 September 2023
------------
Carrying amount
At 30 September 2023
301,156
------------
At 30 September 2022
301,156
------------
6. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
4,472
4,472
------------
------------
7. Director's advances, credits and guarantees
Amounts owed to the director at the balance sheets date are included in creditors and amounted to £418 (2022: £1,132).
8. Related party transactions
Mon Choisi Limited charged rent during the year to Marblefield Limited, its subsidiary, totalling £120,000 (2022 : £120,000). At the balance sheet date, the company owed £117,171 (2022 : £82,969) to Marblefield Limited.