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Registration number: 07831005

Montgomery Partners Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

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Montgomery Partners Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Montgomery Partners Ltd

Company Information

Directors

Mrs Nicola Jayne Oatham

Mr James Laurence Oatham

Registered office

Keymer
10 Orchard Avenue
Hove
BN3 7BL

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Montgomery Partners Ltd

(Registration number: 07831005)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

449

-

Current assets

 

Cash at bank and in hand

 

364

803

Creditors: Amounts falling due within one year

5

(5,696)

(2,865)

Net current liabilities

 

(5,332)

(2,062)

Total assets less current liabilities

 

(4,883)

(2,062)

Creditors: Amounts falling due after more than one year

5

(4,695)

(5,080)

Net liabilities

 

(9,578)

(7,142)

Capital and Reserves

 

Called up share capital

10

10

Retained Earnings

(9,588)

(7,152)

Shareholders' deficit

 

(9,578)

(7,142)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 August 2024 and signed on its behalf by:
 

.........................................
Mrs Nicola Jayne Oatham
Director

   
     
 

Montgomery Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Keymer
10 Orchard Avenue
Hove
BN3 7BL

These financial statements were authorised for issue by the Board on 4 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the company's net liabilities position. The diretors are confident that the company can continue for the forseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Montgomery Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Reducing balance 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Montgomery Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Administration and support

1

1

1

1

 

Montgomery Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

599

599

At 30 November 2023

599

599

Depreciation

Charge for the year

150

150

At 30 November 2023

150

150

Carrying amount

At 30 November 2023

449

449

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

3,881

1,111

Trade Creditors

 

964

944

Accruals and deferred income

 

851

810

 

5,696

2,865

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

4,695

5,080

 

Montgomery Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

4,695

5,080

2023
£

2022
£

Current loans and borrowings

Bank borrowings

827

828

Other borrowings

3,054

283

3,881

1,111