REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
MONTAGUE PLACE (L1) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
MONTAGUE PLACE (L1) LIMITED |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MONTAGUE PLACE (L1) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
(Lingham Accountancy Limited) |
(Part of the Waterfront Accountancy Group Limited) |
7-8 Raleigh Walk |
Waterfront 2000 |
Brigantine Place |
Cardiff |
South Glamorgan |
CF10 4LN |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
BALANCE SHEET |
31 AUGUST 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
PROVISIONS FOR LIABILITIES |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Montague Place (L1) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Goodwill |
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of twenty years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
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 |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
AMORTISATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Cost or valuation at 31 August 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2005 | 27,018 | - | 27,018 |
Cost | 227,533 | 14,862 | 242,395 |
254,551 | 14,862 | 269,413 |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
31.8.23 | 31.8.22 |
£ | £ |
Cost | 227,533 | 227,533 |
Aggregate depreciation | 86,469 | 81,918 |
Value of land in freehold land and buildings | 141,064 | 145,615 |
The freehold and leasehold land and buildings were valued on an open market basis at 31st August 2005. This valuation is still considered to be materially correct. |
If these properties were sold for their revalued amounts it would be necessary to replace them with similar property, and rollver relief against tax on the gain would be available. Accordingly, no timing differences arise and no provision has been made for deferred tax in respect of the revaluation. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 September 2022 |
and 31 August 2023 |
MONTAGUE PLACE (L1) LIMITED (REGISTERED NUMBER: 05188199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
9. | RELATED PARTY DISCLOSURES |
Montague Place (L1) Limited is a wholly owned subsidiary of Montague Place Limited which is registered in England and Wales. |
The Parent Company's bank loans have been secured from cross guarantees and security given by the Subsidiary. |
YEAR END BALANCES INCLUDED DEBTORS NOTE 7 |
Due from Subsidiaries £ 176,133 included within other debtors (FY 2022 £ 174,865) |
YEAR END BALANCES INCLUDED IN CREDITORS NOTE 8 |
Due to Parent Company £ 376,499 (FY 2022 £ 376.499) |