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Company Registration No. SC467670 (Scotland)
Montreal Property Ltd Unaudited accounts for the year ended 31 March 2024
Montreal Property Ltd Unaudited accounts Contents
Page
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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
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Montreal Property Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,370 
25,370 
Investments
2 
2 
25,372 
25,372 
Current assets
Inventories
968,120 
968,120 
Debtors
5,825 
12,450 
Cash at bank and in hand
813,426 
746,745 
1,787,371 
1,727,315 
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)
Capital and reserves
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
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Montreal Property Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 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:
Motor vehicles
25%
Fixtures & fittings
25%
Computer equipment
33%
Stocks
Stocks have been valued at the lower of cost and net realisable value.
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 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.
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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 
Depreciation
At 1 April 2023
- 
9,550 
699 
10,249 
At 31 March 2024
- 
9,550 
699 
10,249 
Net book value
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 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
815 
Deferred tax asset
5,810 
Other debtors
5,825 
5,825 
5,825 
12,450 
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 
Accruals
600 
900 
1,936,312 
1,929,945 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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