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REGISTERED NUMBER: 11880463 (England and Wales)















MONOLITH PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

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


MONOLITH PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Mrs E L C Thorpe





REGISTERED OFFICE: Netherleigh, 145 Church Street
Netherthong
Holmfirth
West Yorkshire
HD9 3EA





REGISTERED NUMBER: 11880463 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 2,102,445 1,859,000

CURRENT ASSETS
Debtors 5 83,476 8,083
Cash at bank 4,740 10,544
88,216 18,627
CREDITORS
Amounts falling due within one year 6 (494,546 ) (420,597 )
NET CURRENT LIABILITIES (406,330 ) (401,970 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,696,115

1,457,030

CREDITORS
Amounts falling due after more than one
year

7

(1,194,902

)

(1,063,915

)

PROVISIONS FOR LIABILITIES 9 (107,685 ) (93,685 )
NET ASSETS 393,528 299,430

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 10 323,055 281,055
Retained earnings 10 70,373 18,275
SHAREHOLDERS' FUNDS 393,528 299,430

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 director acknowledges her 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.

MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

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 director and authorised for issue on 16 September 2024 and were signed by:





Mrs E L C Thorpe - Director


MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Monolith 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.

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 as modified by the revaluation of certain assets.

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

Turnover represents rents received and income from the licensing of a URL. Turnover is recognised in the period to which it relates.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include cash and bank balances and other debtors, are initially measured at transaction price including transaction costs.

Financial assets are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including bank loans accruals and other creditors, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

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.


MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,859,000
Additions 187,445
Revaluations 56,000
At 31 March 2024 2,102,445
NET BOOK VALUE
At 31 March 2024 2,102,445
At 31 March 2023 1,859,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 2,102,445

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,653,719 1,466,274

Investment property was valued on an open market basis on 31 March 2024 by the director .

MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 7,969 8,083

Amounts falling due after more than one year:
Other debtors 75,507 -

Aggregate amounts 83,476 8,083

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 17,366 770
Other creditors 477,180 419,827
494,546 420,597

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 1,194,902 1,063,915

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 1,194,902 1,063,915

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,194,902 1,063,915

Mortgages are secured against the specific properties to which they relate.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 107,685 93,685

MONOLITH PROPERTIES LIMITED (REGISTERED NUMBER: 11880463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 93,685
Charge to Income Statement during year 14,000
Balance at 31 March 2024 107,685

10. RESERVES
Non
Retained distributable
earnings reserve Totals
£    £    £   

At 1 April 2023 18,275 281,055 299,330
Profit for the year 94,098 94,098
Revaluation in the year (42,000 ) 42,000 -
At 31 March 2024 70,373 323,055 393,428

11. RELATED PARTY DISCLOSURES

As at 31 March 2024 £405,451 (2023 - £409,393) was due to the director. This loan is being charged interest at 0.65% and is repayable on demand.