Registered number
12125084
Montpelier Portfolio Limited
Filleted Financial Statements
31 December 2023
Montpelier Portfolio Limited
Registered number: 12125084
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 22,569,944 11,256,250
Current assets
Debtors 4 16,000 6,000
Cash at bank and liquidity 3,401,442 1,752,077
3,417,442 1,758,077
Creditors: amounts falling due within one year 5 (81,381) (8,720)
Net current assets 3,336,061 1,749,357
Total assets less current liabilities 25,906,005 13,005,607
Creditors: amounts falling due after more than one year 6 (22,837,905) (12,344,786)
Net assets 3,068,100 660,821
Capital and reserves
Called up share capital 1,000,000 1,000
Profit and loss account 2,068,100 659,821
Shareholders' funds 3,068,100 660,821
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 Portfolio 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 includes revenue earned from return on investments from security dealing on own account. Turnover is recognised in the statement of income and retained earnings in the period in which return on investments is received.
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the statement of income and retained earnings.
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 period. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as this is considered immaterial to the true and fair view of the financial statements.
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 0 0
3 Investments
Other
investments
£
Cost
At 1 January 2023 11,256,250
Additions 11,745,955
Revaluation 1,076,187
Disposals (1,508,448)
At 31 December 2023 22,569,944
4 Debtors 2023 2022
£ £
Other debtors 16,000 6,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,546 6,020
Other creditors 77,835 2,700
81,381 8,720
6 Creditors: amounts falling due after one year 2023 2022
£ £
Intercompany loan 1,829,570 1,209,703
Loan 21,008,335 11,135,083
22,837,905 12,344,786
The loan represents interest free amounts owed to the principal shareholder.
7 Related party transactions
Montpelier Portfolio Limited is a related party of Montpelier Properties Limited and subsidiary of Montpelier Holdings Limited. All three companies are owned by the same directors.
8 Going concern
The company is in a position to meets its financial obligations for the foreseeable future with the continued support of the directors. The financial statements are therefore prepared on the going concern basis.
9 Other information
Montpelier Portfolio Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cemtral House
124 High Street
Hampton
Middlesex
TW12 1NS
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