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REGISTERED NUMBER: 01802080 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MONTEREY PROPERTIES LIMITED

MONTEREY PROPERTIES LIMITED (REGISTERED NUMBER: 01802080)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MONTEREY PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr V B Rey
Mrs S Rey





SECRETARY: Mrs S Rey





REGISTERED OFFICE: 7/8 Raleigh Walk
Waterfront 2000
Brigantine Place
Cardiff
CF10 4LN





REGISTERED NUMBER: 01802080 (England and Wales)






MONTEREY PROPERTIES LIMITED (REGISTERED NUMBER: 01802080)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 350,000

CURRENT ASSETS
Cash at bank 330,163 1,493

CREDITORS
Amounts falling due within one year 5 37,921 4,553
NET CURRENT ASSETS/(LIABILITIES) 292,242 (3,060 )
TOTAL ASSETS LESS CURRENT LIABILITIES 292,242 346,940

CREDITORS
Amounts falling due after more than one
year

6

(59,201

)

(106,496

)

PROVISIONS FOR LIABILITIES - (28,632 )
NET ASSETS 233,041 211,812

CAPITAL AND RESERVES
Called up share capital 7 102 102
Fair value reserve 8 - 144,733
Retained earnings 232,939 66,977
SHAREHOLDERS' FUNDS 233,041 211,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

MONTEREY PROPERTIES LIMITED (REGISTERED NUMBER: 01802080)

BALANCE SHEET - continued
31 MARCH 2024


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 29 August 2024 and were signed on its behalf by:





Mr V B Rey - Director


MONTEREY PROPERTIES LIMITED (REGISTERED NUMBER: 01802080)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Monterey Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

No depreciation is provided on the Freehold Properties as the director is of the opinion that it is inappropriate in view of the current market value of the properties which they consider is in excess of the cost price.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

MONTEREY PROPERTIES LIMITED (REGISTERED NUMBER: 01802080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 350,000 558 350,558
Disposals (350,000 ) - (350,000 )
At 31 March 2024 - 558 558
DEPRECIATION
At 1 April 2023
and 31 March 2024 - 558 558
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 350,000 - 350,000

Cost or valuation at 31 March 2024 is represented by:

Computer
equipment
£   
Cost 558

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 34,549 -
Other creditors 3,372 4,553
37,921 4,553

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 49,903 49,903
Directors loan 9,298 56,593
59,201 106,496

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
102 Ordinary shares of £1 each 1 102 102

MONTEREY PROPERTIES LIMITED (REGISTERED NUMBER: 01802080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023 144,733
From revaluation reserve (144,733 )

At 31 March 2024 -

9. RELATED PARTY DISCLOSURES

The director Mr V B Rey has lent various monies to the company during the year. The balance of these loans at the Balance Sheet date was £9,298 (2023; £56,593).