Company Registration No. SC467670 (Scotland)
Montreal Property Ltd
Unaudited accounts
for the year ended 31 March 2024
Montreal Property Ltd
Unaudited accounts
Contents
Montreal Property Ltd
Company Information
for the year ended 31 March 2024
Director
Linda Cortellessa
Company Number
SC467670 (Scotland)
Registered Office
3a Jordan Lane
Edinburgh
Midlothian
EH10 4RB
Scotland
Accountants
AGL Tax Solutions LLP
2A Station Yard
Haddington
East Lothian
EH41 3PP
Montreal Property Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
25,370
25,370
Inventories
968,120
968,120
Cash at bank and in hand
813,426
746,745
Creditors: amounts falling due within one year
(1,936,312)
(1,929,945)
Net current liabilities
(148,941)
(202,630)
Net liabilities
(123,569)
(177,258)
Called up share capital
10
10
Profit and loss account
(123,579)
(177,268)
Shareholders' funds
(123,569)
(177,258)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2024 and were signed on its behalf by
Linda Cortellessa
Director
Company Registration No. SC467670
Montreal Property Ltd
Notes to the Accounts
for the year ended 31 March 2024
Montreal Property Ltd is a private company, limited by shares, registered in Scotland, registration number SC467670. The registered office is 3a Jordan Lane, Edinburgh, Midlothian, EH10 4RB, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Stocks have been valued at the lower of cost and net realisable value.
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 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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Current or deferred tax assets and liabilities are not discounted.
Montreal Property Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
25,370
9,550
699
35,619
At 31 March 2024
25,370
9,550
699
35,619
At 1 April 2023
-
9,550
699
10,249
At 31 March 2024
-
9,550
699
10,249
At 31 March 2024
25,370
-
-
25,370
At 31 March 2023
25,370
-
-
25,370
5
Investments
Subsidiary undertakings
Valuation at 1 April 2023
2
Valuation at 31 March 2024
2
Amounts falling due within one year
Deferred tax asset
-
5,810
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
4,350
4,466
Taxes and social security
6,783
-
Non-equity preference shares
1,510,000
1,510,000
Other creditors
6,125
6,125
Loans from directors
408,454
408,454
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).