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Company registration number: 05231776
Richard Monk Associates Ltd
Unaudited filleted financial statements
30 September 2024
Richard Monk Associates Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Richard Monk Associates Ltd
Directors and other information
Director Mr Richard Monk
Company number 05231776
Registered office Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Business address Hill House Farm
Gulpher Road
Felixstowe
Suffolk
IP11 9RB
Accountant Simon Emmerson MAAT AATQB
Deeks & King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Bankers Barclays
Leicester
LE87 2BB
Richard Monk Associates Ltd
Accountants Report to the director on the preparation of the
unaudited statutory financial statements of Richard Monk Associates Ltd
Year ended 30 September 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Simon Emmerson MAAT AATQB
Deeks & King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
25 October 2024
Richard Monk Associates Ltd
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 35,919 38,516
_______ _______
35,919 38,516
Current assets
Debtors 6 - ( 231)
Cash at bank and in hand 179,058 172,014
_______ _______
179,058 171,783
Creditors: amounts falling due
within one year 7 ( 7,731) ( 8,240)
_______ _______
Net current assets 171,327 163,543
_______ _______
Total assets less current liabilities 207,246 202,059
_______ _______
Net assets 207,246 202,059
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 207,244 202,057
_______ _______
Shareholders funds 207,246 202,059
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question 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 financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
Mr Richard Monk
Director
Company registration number: 05231776
Richard Monk Associates Ltd
Statement of changes in equity
Year ended 30 September 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 October 2022 2 201,375 201,377
Profit for the year 2,682 2,682
_______ _______ _______
Total comprehensive income for the year - 2,682 2,682
Dividends paid and payable ( 2,000) ( 2,000)
_______ _______ _______
Total investments by and distributions to owners - ( 2,000) ( 2,000)
_______ _______ _______
At 30 September 2023 and 1 October 2023 2 202,057 202,059
Profit for the year 8,687 8,687
_______ _______ _______
Total comprehensive income for the year - 8,687 8,687
Dividends paid and payable ( 3,500) ( 3,500)
_______ _______ _______
Total investments by and distributions to owners - ( 3,500) ( 3,500)
_______ _______ _______
At 30 September 2024 2 207,244 207,246
_______ _______ _______
Richard Monk Associates Ltd
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 2 The Rutherford Centre, Dunlop Road, Hadleigh Road Industrial Estate, Ipswich, Suffolk, IP2 0UG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 and 30 September 2024 25,000 15,061 21,800 61,861
_______ _______ _______ _______
Depreciation
At 1 October 2023 - 9,728 13,617 23,345
Charge for the year - 960 1,637 2,597
_______ _______ _______ _______
At 30 September 2024 - 10,688 15,254 25,942
_______ _______ _______ _______
Carrying amount
At 30 September 2024 25,000 4,373 6,546 35,919
_______ _______ _______ _______
At 30 September 2023 25,000 5,333 8,183 38,516
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors - ( 231)
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 804 1,091
Corporation tax 2,644 1,382
Social security and other taxes 1,179 3,067
Other creditors 3,104 2,700
_______ _______
7,731 8,240
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Richard Monk ( 231) 6,267 ( 6,440) ( 404)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Richard Monk ( 439) 8,401 ( 8,193) ( 231)
_______ _______ _______ _______