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COMPANY REGISTRATION NUMBER: 01068801
Montrose Court Management Limited
Filleted Unaudited Financial Statements
31 March 2024
Montrose Court Management Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Montrose Court Management Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Current assets
Cash at bank and in hand
90
90
----
----
Net current assets
90
90
----
----
Total assets less current liabilities
90
90
----
----
Capital and reserves
Called up share capital
4
90
90
----
----
Shareholders funds
90
90
----
----
These 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 statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 July 2024 , and are signed on behalf of the board by:
Mr K J Brown FCIS, ATII and FCCA
Director
Company registration number: 01068801
Montrose Court Management Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Rendall and Rittner Limited, 13b St. George Wharf, London, SW8 2LE, England.
2. Statement of compliance
These 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements reflect the guidance issued in TECH 03/11 Accounting for Service Charges published jointly by ICAEW, ARMA and RICS in March 2011.
Income statement
The entity is dormant as defined by section 1169 of the Companies Act 2006. The company has no income or expenditure in its own right. All transactions in the year relating to income and expenditure are shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. All service charge monies received from residents of Montrose Court are held on trust for the residents.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
A Shares shares of £ 0.50 each
90
45
90
45
B Shares shares of £ 0.50 each
90
45
90
45
----
----
----
----
180
90
180
90
----
----
----
----
Each 'A' share shall confer the right to vote at general meetings in respect of any resolutions affecting the building known as Montrose Court, SW7 or any of the flats therein and shall be entitled to appoint and remove not more than two 'A' directors. Each 'B' share shall confer the right to vote at any general meetings of the company and shall be entitled to appoint and remove not more than three 'B' directors. In general meetings of the company, on a vote by a show of hands, each member is entitled to one vote and on a poll every shareholder shall have one vote if the holder of an 'A' share and three votes if the holder of a 'B' share
5. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5).