IRIS Accounts Productionv24.1.4.3306561728Board of DirectorsBoard of Directors1.11.2231.10.2331.10.23falsetruefalsefalsetruefalseFair value modelOrdinary1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh065617282022-10-31065617282023-10-31065617282022-11-012023-10-31065617282021-10-31065617282021-11-012022-10-31065617282022-10-3106561728ns15:EnglandWales2022-11-012023-10-3106561728ns14:PoundSterling2022-11-012023-10-3106561728ns10:Director12022-11-012023-10-3106561728ns10:Director22022-11-012023-10-3106561728ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3106561728ns10:SmallEntities2022-11-012023-10-3106561728ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3106561728ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3106561728ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3106561728ns10:FullAccounts2022-11-012023-10-3106561728ns10:OrdinaryShareClass12022-11-012023-10-3106561728ns10:CompanySecretary12022-11-012023-10-3106561728ns10:RegisteredOffice2022-11-012023-10-3106561728ns5:CurrentFinancialInstruments2023-10-3106561728ns5:CurrentFinancialInstruments2022-10-3106561728ns5:ShareCapital2023-10-3106561728ns5:ShareCapital2022-10-3106561728ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3106561728ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3106561728ns5:RetainedEarningsAccumulatedLosses2023-10-3106561728ns5:RetainedEarningsAccumulatedLosses2022-10-3106561728ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3106561728ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3106561728ns10:OrdinaryShareClass12023-10-3106561728ns5:RetainedEarningsAccumulatedLosses2022-10-3106561728ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3106561728ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-31

REGISTERED NUMBER: 06561728 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 October 2023

for


Montana Property Assets Limited



Montana Property Assets Limited (Registered number: 06561728)








Contents of the Financial Statements

for the Year Ended 31 October 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





Montana Property Assets Limited



Company Information

for the Year Ended 31 October 2023









DIRECTORS:

S.A. Boyling


K.J. Gentry







SECRETARY:

K.J. Gentry







REGISTERED OFFICE:

C/o Montana Property Development Co Ltd


Transport House


80 Calcutta Road


Tilbury


Essex


RM18 7QJ







REGISTERED NUMBER:

06561728 (England and Wales)







ACCOUNTANTS:

Anser Solutions Ltd


Chartered Accountants


Suite 1


19 Aviation Way


Southend Airport


Southend on Sea


Essex


SS2 6UN



Montana Property Assets Limited (Registered number: 06561728)



Balance Sheet

31 October 2023



31.10.23

31.10.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Investment property

3

6,300,000


6,300,000




CURRENT ASSETS

Debtors

4

163,825


8,473



Cash at bank

668,884


629,474



832,709


637,947



CREDITORS

Amounts falling due within one year

5

75,820


71,226



NET CURRENT ASSETS

756,889


566,721



TOTAL ASSETS LESS CURRENT

LIABILITIES

7,056,889


6,866,721




PROVISIONS FOR LIABILITIES

494,014


494,014



NET ASSETS

6,562,875


6,372,707




CAPITAL AND RESERVES

Called up share capital

6

100


100



Fair value reserve

7

2,921,224


2,921,224



Retained earnings

7

3,641,551


3,451,383



SHAREHOLDERS' FUNDS

6,562,875


6,372,707




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.



Montana Property Assets Limited (Registered number: 06561728)



Balance Sheet - continued

31 October 2023



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 24 June 2024 and were signed on its behalf by:





S.A. Boyling - Director




K.J. Gentry - Director




Montana Property Assets Limited (Registered number: 06561728)



Notes to the Financial Statements

for the Year Ended 31 October 2023


1.

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 as modified by the revaluation of certain assets.    



Investment property


Investment property is initially recognised at cost. The cost of a purchased investment property comprises it's purchase price and any directly attributable expenditure. Subsequently, investment property whose value can be measured without undue cost or effort is measured at fair value at each reporting date with changes in fair value being recognised in the income statement.



Deferred tax is provided on these fair value changes at the rate expected to apply when the property is sold.



Fair value is determined by the directors based on their knowledge of the properties taking into account location, condition and prevailing market values at the reporting date.



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.

2.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 2 (2022 - 2 ) .


3.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 November 2022


and 31 October 2023

6,300,000




NET BOOK VALUE


At 31 October 2023

6,300,000




At 31 October 2022

6,300,000





Montana Property Assets Limited (Registered number: 06561728)



Notes to the Financial Statements - continued

for the Year Ended 31 October 2023


3.

INVESTMENT PROPERTY - continued



Fair value at 31 October 2023 is represented by:

£   



Valuation in 2015

715,238




Valuation in 2017

720,000




Valuation in 2018

280,000




Valuation in 2019

690,000




Valuation in 2020

416,000




Valuation in 2022

594,000




Cost

2,884,762



6,300,000




4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



Amounts owed by group undertakings

146,000


1,000




Other debtors

17,825


7,473



163,825


8,473




5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



Trade creditors

1,402


1,588




Taxation and social security

63,827


59,261




Other creditors

10,591


10,377



75,820


71,226




6.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.10.23


31.10.22


value:

£   

£   



100

Ordinary

£1

100


100




7.

RESERVES


Fair



Retained


value



earnings


reserve


Totals

£   

£   

£   




At 1 November 2022

3,451,383


2,921,224


6,372,607




Profit for the year

190,168


190,168




At 31 October 2023

3,641,551


2,921,224


6,562,775





Montana Property Assets Limited (Registered number: 06561728)



Notes to the Financial Statements - continued

for the Year Ended 31 October 2023


8.

ULTIMATE CONTROLLING PARTY



The controlling party is Montana Property Assets Holdings Ltd (Reg No.13014365).



The above named company is registered in England and Wales, with their registered office and principal place of business address being that of: Transport House, 80 Calcutta Road, Tilbury, Essex, RM18 7QJ.