2023-03-01 2024-02-29 06812663 Montrose Kelly Ltd false 06812663 2023-03-01 2024-02-29 06812663 uk-bus:Director1 2023-03-01 2024-02-29 06812663 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06812663 uk-bus:SmallEntities 2023-03-01 2024-02-29 06812663 uk-bus:FullAccounts 2023-03-01 2024-02-29 06812663 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06812663 2023-03-01 06812663 2024-02-29 06812663 2023-02-28 xbrli:pure iso4217:GBP 06812663 2022-03-01 2023-02-28
Company Registration Number : 06812663 (England and Wales)
06812663
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-02-29
false
Montrose Kelly Ltd
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-03-01
Montrose Kelly Ltd
Unaudited filleted financial statements
For the year ended 29 February 2024
Montrose Kelly Ltd
Contents
For the year ended 29 February 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 7


Montrose Kelly Ltd
Company Information
For the year ended 29 February 2024

Company registration number 06812663 (England and Wales)
Director NIGEL GRAHAM
Registered office address 2 Pewsey Close
Basingstoke
Hampshire
England
RG22 5ED
Accountant Barnett and Co Accountants Limited
Chartered Management Accountants
24A High Street, Melksham
Wiltshire
SN12 6LA
Montrose Kelly Ltd
Statement of Financial Position
For the year ended 29 February 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 3,270 1,505
7 3,270 1,505
Current assets
Inventories - 2,347
Debtors 75,129 67,908
Cash and cash equivalents 23,891 24,977
99,020 95,232
Current liabilities
Creditors: Amounts falling due within one year (7,465) (7,649)
Corporation tax payable (33,638) (25,375)
(41,104) (33,024)
Net current assets/(liabilities) 57,917 62,208
Total assets less current liabilities 61,186 63,712
Non-current liabilities
Provision for liabilities (621) (286)
Net assets/(liabilities) 60,565 63,426
Capital and reserves
Called up share capital 100 100
Retained earnings 60,465 63,326
Shareholder's funds 60,565 63,426
For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 29 February 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 their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared 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.
Approved by the Board on 30 August 2024
.............................
NIGEL GRAHAM (Director)
Company registration number: 06812663
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-02-29 29 February 2024
2024 2023
£ £
Fixed Assets 3,270 1,505
Current Assets 99,020 95,112
Prepayments and accrued income 0 120
Creditors: amounts falling due within one year (41,104) (33,024)
Net current assets (liabilities) 57,917 62,208
Total assets less current liabilities 61,186 63,712
Provisions for liabilities (621) (286)
Net Assets (liabilities) 60,565 63,426
Capital and Reserves 60,565 63,426
For the year ending 29/02/2024 the company was entitled to exemption 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. For the year ending 29-02-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 30 August 2024 2024-08-30 and signed on behalf of the board,
.............................
NIGEL GRAHAM
Director
Company registration number: 06812663
Montrose Kelly Ltd
Notes to the Financial Statements
For the year ended 29 February 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 2 Pewsey Close, Basingstoke, Hampshire, England, RG22 5ED.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment33% straight line
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised 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 liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

(4) Employees
During the year, the average number of employees including director was 1 (2023 : 1).

(5) Commitments, guarantees and contingencies
Other financial commitments
At the balance sheet date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases over motor vehicles which fall due as follows:.
29 February 202428 February 2023
££
Within One year 5,967 0
Between one and five years12,431 0
Later than five years0 0
Total 18,398 0

(6) Directors advances, credit and guarantees
Overdrawn
The director owed £55,857 at the period end and it was repaid on 06 April 2024 . ( 2023 : £37,934 )

(7) Fixed assets
Tangible

£
Cost
As at 01 March 202312,953
Additions2,752
As at 29 February 202415,705
Depreciation/Amortisation
As at 01 March 202311,449
For the year987
As at 29 February 202412,436
Net book value
As at 29 February 20243,269
As at 28 February 20231,504