Registered number
07271085
Montpelier Properties Limited
Filleted Financial Statements
31 December 2023
Montpelier Properties Limited
Registered number: 07271085
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 53,081 3,105
Investments 4 11,715,543 11,660,543
11,768,624 11,663,648
Current assets
Debtors 5 1,484,155 1,296,796
Cash at bank and in hand 144,767 758,236
1,628,922 2,055,032
Creditors: amounts falling due within one year 6 (25,977) (39,895)
Net current assets 1,602,945 2,015,137
Total assets less current liabilities 13,371,569 13,678,785
Creditors: amounts falling due after more than one year 7 (8,974,891) (9,348,554)
Provisions for liabilities (396,499) (386,049)
Net assets 4,000,179 3,944,182
Capital and reserves
Called up share capital 2,000,000 2,000,000
Profit and loss account 2,000,179 1,944,182
Shareholders' funds 4,000,179 3,944,182
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The directors' report and statement of income and retained earnings have not been delivered to the Registrar of Companies.
G J Fry
Director
Approved by the board on 4 June 2024
Montpelier Properties Limited
Notes to the Financial Statements
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents the value of rental income in respect of the investment properties in note 4.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
Investments include investment properties which are recognised using the fair value method, fair value being the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.Other investment relates to shares bought during the year.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to statement of income and retained earnings.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 13,173
Additions 76,128
At 31 December 2023 89,301
Depreciation
At 1 January 2023 10,068
Charge for the year 26,152
At 31 December 2023 36,220
Net book value
At 31 December 2023 53,081
At 31 December 2022 3,105
4 Investments
Other
investments
£
Cost
At 1 January 2023 11,660,543
VAT adjustment -
Revaluation 55,000
At 31 December 2023 11,715,543
5 Debtors 2023 2022
£ £
Trade debtors 75,000 -
Intercompany loan 1,327,770 1,211,803
Other debtors 81,385 84,993
1,484,155 1,296,796
Other debtors include £74,286 (€88,500) withholding tax due.
6 Creditors: amounts falling due within one year 2023 2022
£ £
Advance rent - 4,792
Taxation and social security costs 1,467 11,365
Other creditors 24,510 23,738
25,977 39,895
7 Creditors: amounts falling due after one year 2023 2022
£ £
Loan 8,974,891 9,348,554
The loan represents interest free amounts owed to the principal shareholder.
8 Related party transactions
Montpelier Properties Limited is a wholly owned subsidiary of Montpelier Holdings Limited incorporated 26 July 2019 and a related party of Montpelier Portfolio Limited an investment company trading in financial instruments also incorporated 26 July 2019.
9 Other information
Montpelier Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
124 High Street
Hampton Hill
Middlesex
TW12 1NS
Montpelier Properties Limited 07271085 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 G J Fry No description of principal activity 07271085 2022-01-01 2022-12-31 07271085 core:WithinOneYear 2022-12-31 07271085 core:AfterOneYear 2022-12-31 07271085 core:ShareCapital 2022-12-31 07271085 core:RetainedEarningsAccumulatedLosses 2022-12-31 07271085 2023-01-01 2023-12-31 07271085 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07271085 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07271085 bus:Director40 2023-01-01 2023-12-31 07271085 1 2023-01-01 2023-12-31 07271085 2 2023-01-01 2023-12-31 07271085 core:PlantMachinery 2023-01-01 2023-12-31 07271085 countries:England 2023-01-01 2023-12-31 07271085 bus:FRS102 2023-01-01 2023-12-31 07271085 bus:FilletedAccounts 2023-01-01 2023-12-31 07271085 2023-12-31 07271085 core:WithinOneYear 2023-12-31 07271085 core:AfterOneYear 2023-12-31 07271085 core:ShareCapital 2023-12-31 07271085 core:RetainedEarningsAccumulatedLosses 2023-12-31 07271085 core:PlantMachinery 2023-12-31 07271085 core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 07271085 2022-12-31 07271085 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure