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REGISTERED NUMBER: 09316863 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MONTACUTE INVESTMENTS LIMITED

MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MONTACUTE INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: I R Knight





REGISTERED OFFICE: 4 Mount Ephraim Road
Tunbridge Wells
England
TN1 1EE





REGISTERED NUMBER: 09316863 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor
Medway Bridge House
1-8 Fairmeadow
Maidstone
Kent
ME14 1JP

MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,255 841
Investment property 5 1,500,000 1,468,998
1,504,255 1,469,839

CURRENT ASSETS
Debtors 6 7,116 1,777
Cash at bank 28,435 63,072
35,551 64,849
CREDITORS
Amounts falling due within one year 7 58,782 34,229
NET CURRENT (LIABILITIES)/ASSETS (23,231 ) 30,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,481,024

1,500,459

CREDITORS
Amounts falling due after more than one
year

8

(1,286,572

)

(1,378,172

)

PROVISIONS FOR LIABILITIES 9 (33,409 ) (24,805 )
NET ASSETS 161,043 97,482

CAPITAL AND RESERVES
Called up share capital 10 2 2
Other reserves 11 70,907 48,507
Retained earnings 11 90,134 48,973
SHAREHOLDERS' FUNDS 161,043 97,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

BALANCE SHEET - continued
31 MARCH 2024


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

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

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





I R Knight - Director


MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Montacute Investments 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 as modified by the revaluation of certain assets.

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources and the support of the director to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has positive cash balances and reserves. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Revenue represents rental income from the company's investment properties. It is recognised for the period the properties are leased by the tenants and are shown net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Fixed asset investments are stated at cost less provision for diminution in value.

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

MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transactions price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023 4,109
Additions 4,869
At 31 March 2024 8,978
DEPRECIATION
At 1 April 2023 3,268
Charge for year 1,455
At 31 March 2024 4,723
NET BOOK VALUE
At 31 March 2024 4,255
At 31 March 2023 841

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,468,998
Revaluations 31,002
At 31 March 2024 1,500,000
NET BOOK VALUE
At 31 March 2024 1,500,000
At 31 March 2023 1,468,998

Investment property comprises freehold and leasehold buildings. An independent valuation has not been carried out in the current or previous year but the fair value of the investment properties has been determined by the director. The valuation was made on an open market value basis with reference to market evidence of transaction prices for similar properties.

MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,563 -
Other debtors 1,553 1,777
7,116 1,777

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 11,577 2,504
Other creditors 47,205 31,725
58,782 34,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 440,000 440,000
Other creditors 846,572 938,172
1,286,572 1,378,172

At the balance sheet date, the company had an existing loan facility of £200,000 (2023: £200,000) with Handelsbanken. Interest is chargeable on the loan at 4.91% per annum and the principal is repayable in full on maturity, 08 July 2027. This loan is secured by a fixed charge over the assets of the company.

At the balance sheet date, the company had an existing loan facility of £240,000 (2023: £240,000) with Handelsbanken. Interest is chargeable on the loan at a variable rate and the principal is repayable in full on maturity, 08 July 2027. This loan is secured by a fixed charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 33,409 24,805

Deferred
tax
£   
Balance at 1 April 2023 24,805
Provided during year 8,604
Balance at 31 March 2024 33,409

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

MONTACUTE INVESTMENTS LIMITED (REGISTERED NUMBER: 09316863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 April 2023 48,973 48,507 97,480
Profit for the year 65,561 65,561
Dividends (2,000 ) (2,000 )
Transfer (22,400 ) 22,400 -
At 31 March 2024 90,134 70,907 161,041

12. RELATED PARTY DISCLOSURES

At the date of the financial statements, the company owed the director £846,572 (2023: £938,172).

13. ULTIMATE CONTROLLING PARTY

The director believes that the company has no ultimate controlling party.