Company Registration No. 11123365 (England and Wales)
Montreal Park Limited
Unaudited accounts
for the year ended 31 December 2023
Montreal Park Limited
Unaudited accounts
Contents
Montreal Park Limited
Company Information
for the year ended 31 December 2023
Company Number
11123365 (England and Wales)
Registered Office
2 Marlborough Crescent
Sevenoaks
Kent
TN13 2HP
Accountants
Barnes & Scott
86-90 Paul Street
Shoreditch
London
EC2A 4NE
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Montreal Park Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Montreal Park Limited for the year ended
31 December 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Montreal Park Limited, as a body, in accordance with the terms of our engagement letter dated 24 September 2019. Our work has been undertaken solely to prepare for your approval the accounts of Montreal Park Limited and state those matters that we have agreed to state to the Board of Directors of Montreal Park Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Montreal Park Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Montreal Park Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Montreal Park Limited. You consider that Montreal Park Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Montreal Park Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott
Chartered Accountants
86-90 Paul Street
Shoreditch
London
EC2A 4NE
24 September 2024
Montreal Park Limited
Statement of financial position
as at 31 December 2023
Tangible assets
4,183
6,807
Cash at bank and in hand
3,576,140
3,634,605
Creditors: amounts falling due within one year
(90,895)
(478,666)
Net current assets
3,948,970
3,830,728
Net assets
3,953,153
3,837,535
Called up share capital
1
1
Profit and loss account
3,953,152
3,837,534
Shareholders' funds
3,953,153
3,837,535
For the year ending 31 December 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 24 September 2024 and were signed on its behalf by
Peter Glover
Director
Company Registration No. 11123365
Montreal Park Limited
Notes to the Accounts
for the year ended 31 December 2023
Montreal Park Limited is a private company, limited by shares, registered in England and Wales, registration number 11123365. The registered office is 2 Marlborough Crescent, Sevenoaks, Kent, TN13 2HP.
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.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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:
Fixtures & fittings
25% straight line method
Computer equipment
25% straight line method
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Montreal Park Limited
Notes to the Accounts
for the year ended 31 December 2023
Taxation represents the sum of tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
4
Tangible fixed assets
Total
At 31 December 2023
15,344
At 31 December 2023
11,161
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
132,358
208,679
342,807
(1,770)
132,358
208,679
342,807
(1,770)
At year-end an amount of £1,770 (2022: Creditor of £132,358) was owed by the director to the company.
The director loan is measured at transaction price and is interest free.
The loan was repaid within nine months of year end.
7
Average number of employees
During the year the average number of employees was 2 (2022: 1).