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REGISTERED NUMBER: 09124953 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

MONTAGU ASSET MANAGEMENT LTD

MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MONTAGU ASSET MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: A K Kalyan
V K Paul





REGISTERED OFFICE: 3rd Floor
86-90 Paul Street
London
EC2A 4NE





REGISTERED NUMBER: 09124953 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,434 67,322

CURRENT ASSETS
Debtors 5 104,122 115,288
Cash at bank 20,569 20,248
124,691 135,536
CREDITORS
Amounts falling due within one year 6 61,949 50,341
NET CURRENT ASSETS 62,742 85,195
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,176

152,517

CREDITORS
Amounts falling due after more than one
year

7

(80,856

)

(91,104

)

PROVISIONS FOR LIABILITIES (9,772 ) (11,614 )
NET ASSETS 22,548 49,799

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 12,548 39,799
SHAREHOLDERS' FUNDS 22,548 49,799

MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

BALANCE SHEET - continued
30TH NOVEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:





V K Paul - Director


MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023


1. STATUTORY INFORMATION

Montagu Asset Management Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

For operational reasons the previous reporting period was extended, therefore comparative amounts (including the related notes) may not be entirely comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2022
and 30th November 2023 83,566
DEPRECIATION
At 1st December 2022 16,244
Charge for year 16,888
At 30th November 2023 33,132
NET BOOK VALUE
At 30th November 2023 50,434
At 30th November 2022 67,322

MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st December 2022
and 30th November 2023 82,320
DEPRECIATION
At 1st December 2022 15,435
Charge for year 16,721
At 30th November 2023 32,156
NET BOOK VALUE
At 30th November 2023 50,164
At 30th November 2022 66,885

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,869 21,211
Other debtors 91,253 94,077
104,122 115,288

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,357 4,012
Hire purchase contracts 7,870 7,389
Taxation and social security 13,172 412
Other creditors 37,550 38,528
61,949 50,341

MONTAGU ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09124953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 29,039 31,417
Hire purchase contracts 51,817 59,687
80,856 91,104

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment 13,226 17,432
13,226 17,432

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 32,396 -

Bank loans are secured under the UK government Bounce Back and Coronavirus Business Interruption loan schemes providing a full guarantee on the outstanding amount.

9. RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.