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REGISTERED NUMBER: 04158387 (England and Wales)

















MONTY-PACK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024






MONTY-PACK LIMITED (REGISTERED NUMBER: 04158387)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


MONTY-PACK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: Mr C G Bates
Mrs G M Baxter
Mrs S A Martin
Mrs N Bates





SECRETARY: Mrs G M Baxter





REGISTERED OFFICE: Excel House
Millbrook Lane
Wragby
Market Rasen
Lincolnshire
LN8 5AB





BUSINESS ADDRESS: Struggs Hill
Sutterton
Boston
Lincolnshire
PE20 2HU





REGISTERED NUMBER: 04158387 (England and Wales)





ACCOUNTANTS: Socius Accountants Limited
Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB

MONTY-PACK LIMITED (REGISTERED NUMBER: 04158387)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 873,307 696,098

CURRENT ASSETS
Stocks 81,141 94,743
Debtors 85,630 94,595
Cash at bank 59,181 6,984
225,952 196,322
CREDITORS
Amounts falling due within one year 250,170 186,893
NET CURRENT (LIABILITIES)/ASSETS (24,218 ) 9,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

849,089

705,527

CREDITORS
Amounts falling due after more than one year (102,424 ) (78,192 )

PROVISIONS FOR LIABILITIES (101,177 ) (70,714 )
NET ASSETS 645,488 556,621

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 635,488 546,621
645,488 556,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:



Mrs G M Baxter - Director


MONTY-PACK LIMITED (REGISTERED NUMBER: 04158387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

Monty-Pack 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 15% on reducing balance and in accordance with the property
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MONTY-PACK LIMITED (REGISTERED NUMBER: 04158387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 1,770,730
Additions 315,321
Disposals (190,253 )
At 28 February 2024 1,895,798
DEPRECIATION
At 1 March 2023 1,074,632
Charge for year 101,879
Eliminated on disposal (154,020 )
At 28 February 2024 1,022,491
NET BOOK VALUE
At 28 February 2024 873,307
At 28 February 2023 696,098

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2023 120,850
Additions 254,277
At 28 February 2024 375,127
DEPRECIATION
At 1 March 2023 24,957
Charge for year 28,542
At 28 February 2024 53,499
NET BOOK VALUE
At 28 February 2024 321,628
At 28 February 2023 95,893

MONTY-PACK LIMITED (REGISTERED NUMBER: 04158387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,815 49,802
Hire purchase contracts 171,927 77,871
196,742 127,673

The bank overdraft is secured by way of a charge over the company's land and property.

The hire purchase liabilities are secured by way of a charge over the plant and machinery assets financed.