Registration number:
Prepared for the registrar
for the
Year Ended 31 March 2024
MonDeChe Limited
(Registration number: 13951043)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Fixed assets |
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Investment property |
|
- |
|
Current assets |
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Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets/(liabilities) |
|
( |
|
Total assets less current liabilities |
|
( |
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
(522,341) |
(13,500) |
|
Shareholders' deficit |
(522,241) |
(13,400) |
For the financial 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.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
MonDeChe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Tax
The tax expense for the period comprises current and is recognised in the profit and loss account.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
MonDeChe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Impairment
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
MonDeChe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Investment property freehold |
£ |
|
Additions |
|
There has been no valuation of the investment property freehold by an independent valuer.
Stocks |
2024 |
2023 |
|
Work in progress |
|
|
At 31 March 2024, £146,562 (2023: £nil) of finance charges are included in work in progress.
Debtors |
2024 |
2023 |
|
Receivables from related parties |
18,082 |
- |
Prepayments |
- |
|
Other debtors |
|
|
|
|
Creditors |
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
- |
|
Trade creditors |
|
|
|
Amounts due to related parties |
802,549 |
317,502 |
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
- |
MonDeChe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
|
Other borrowings |
|
- |
Non-current loans and borrowings
2024 |
2023 |
|
Other borrowings |
|
- |
Loans are secured on the property held in Work In Progress at the year end.
Related party transactions |
Summary of transactions with other related parties
At 31 March 2024, the company owed £667,289 (2023: £206,376) to the directors.
At 31 March 2024, the company owed £135,260 (2023: £111,127) to Henry Hampton Consulting Limited, a company controlled by one of the directors.
At 31 March 2024, the company was owed £18,082 (2023: £nil) by Montpellier House Freehold Limited, a company controlled by one of the directors.
No interest was charged on these balances and there are no fixed repayment terms.
Parent and ultimate parent undertaking |
The company's immediate parents are