Registered number
12478809
Montage Property Ltd
Unaudited Filleted Accounts
29 February 2024
Montage Property Ltd
Registered number: 12478809
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 613,906 328,325
Current assets
Debtors 4 3,948 -
Cash at bank and in hand 7,759 8,577
11,707 8,577
Creditors: amounts falling due within one year 5 (13,768) (10,273)
Net current liabilities (2,061) (1,696)
Total assets less current liabilities 611,845 326,629
Creditors: amounts falling due after more than one year 6 (632,396) (334,068)
Net liabilities (20,551) (7,439)
Capital and reserves
Called up share capital 100 100
Profit and loss account (20,651) (7,539)
Shareholder's funds (20,551) (7,439)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Clague
Director
Approved by the board on 11 September 2024
Montage Property Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, 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 over 3 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 326,310 319 2,481 329,110
Additions 286,183 - - 286,183
At 29 February 2024 612,493 319 2,481 615,293
Depreciation
At 1 March 2023 - 212 573 785
Charge for the year - 106 496 602
At 29 February 2024 - 318 1,069 1,387
Net book value
At 29 February 2024 612,493 1 1,412 613,906
At 28 February 2023 326,310 107 1,908 328,325
4 Debtors 2024 2023
£ £
Other debtors 3,948 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,653 9,158
Other creditors 4,115 1,115
13,768 10,273
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 261,066 23,068
Other creditors 371,330 311,000
632,396 334,068
7 Other information
Montage Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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