Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 03095047 Mr David Monk Mr John Slade Mrs Jodie Macmillan Mr John Slade 6 Houndiscombe Road, Plymouth, PL4 6HH true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03095047 2023-03-31 03095047 2024-03-31 03095047 2023-04-01 2024-03-31 03095047 frs-core:CurrentFinancialInstruments 2024-03-31 03095047 frs-core:Non-currentFinancialInstruments 2024-03-31 03095047 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03095047 frs-core:FurnitureFittings 2024-03-31 03095047 frs-core:FurnitureFittings 2023-04-01 2024-03-31 03095047 frs-core:FurnitureFittings 2023-03-31 03095047 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 03095047 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03095047 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 03095047 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 03095047 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03095047 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 03095047 frs-core:MotorVehicles 2024-03-31 03095047 frs-core:MotorVehicles 2023-04-01 2024-03-31 03095047 frs-core:MotorVehicles 2023-03-31 03095047 frs-core:ShareCapital 2024-03-31 03095047 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03095047 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03095047 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03095047 frs-bus:SmallEntities 2023-04-01 2024-03-31 03095047 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03095047 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03095047 1 2023-04-01 2024-03-31 03095047 frs-core:CostValuation 2023-03-31 03095047 frs-core:CostValuation 2024-03-31 03095047 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 03095047 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 03095047 frs-bus:Director1 2023-04-01 2024-03-31 03095047 frs-bus:Director2 2023-04-01 2024-03-31 03095047 frs-bus:Director3 2023-04-01 2024-03-31 03095047 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 03095047 frs-countries:EnglandWales 2023-04-01 2024-03-31 03095047 2022-03-31 03095047 2023-03-31 03095047 2022-04-01 2023-03-31 03095047 frs-core:CurrentFinancialInstruments 2023-03-31 03095047 frs-core:Non-currentFinancialInstruments 2023-03-31 03095047 frs-core:ShareCapital 2023-03-31 03095047 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03095047
Monk Investment Management Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Condy Mathias
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03095047
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 49,032 107,169
Investments 5 95 95
49,127 107,264
CURRENT ASSETS
Debtors 6 93,457 67,364
Cash at bank and in hand 52,143 68,600
145,600 135,964
Creditors: Amounts Falling Due Within One Year 7 (91,748 ) (115,699 )
NET CURRENT ASSETS (LIABILITIES) 53,852 20,265
TOTAL ASSETS LESS CURRENT LIABILITIES 102,979 127,529
Creditors: Amounts Falling Due After More Than One Year 8 (13,333 ) (23,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,574 ) (7,094 )
NET ASSETS 88,072 97,102
CAPITAL AND RESERVES
Called up share capital 9 610 610
Profit and Loss Account 87,462 96,492
SHAREHOLDERS' FUNDS 88,072 97,102
Page 1
Page 2
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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Jodie Macmillan
Director
30 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Monk Investment Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03095047 . The registered office is 6 Houndiscombe Road, Plymouth, Devon, PL4 6HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received for the provision of surveying services in the ordinary course of the company’s activities.  Turnover is shown net of value added tax, rebates and discounts.  The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Leasehold 2% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income 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 liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 85,500 12,863 40,145 67,719 206,227
Additions - - - 1,241 1,241
Disposals (34,000 ) - (40,145 ) - (74,145 )
As at 31 March 2024 51,500 12,863 - 68,960 133,323
Depreciation
As at 1 April 2023 7,739 11,141 18,503 61,675 99,058
Provided during the period 1,030 45 - 2,661 3,736
Disposals - - (18,503 ) - (18,503 )
As at 31 March 2024 8,769 11,186 - 64,336 84,291
Net Book Value
As at 31 March 2024 42,731 1,677 - 4,624 49,032
As at 1 April 2023 77,761 1,722 21,642 6,044 107,169
5. Investments
Subsidiaries
£
Cost
As at 1 April 2023 95
As at 31 March 2024 95
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 95
As at 1 April 2023 95
The above investment relates to a 95% ownership of a subsidiary company, Monk & Partners Residential Services Ltd.  The registered address of this subsidiary is 6 Houndiscombe Road, Plymouth, PL4 6HH, and its principal activity is the provision of residential survey services.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,335 43,644
Amounts owed by group undertakings 13,007 23,012
Other debtors 22,115 708
93,457 67,364
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,309 31,076
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings - 8,527
Other creditors 18,842 26,814
Taxation and social security 39,597 39,282
91,748 115,699
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 23,333
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 610 610
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Monk & Partners (SEV) Ltd . Monk & Partners (SEV) Ltd was incorporated in the United Kingdom. Copies of the accounts may be obtained from 6 Houndiscombe Road, Plymouth, PL4 6HH
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