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Registration number: 09669753

City & Suburban (Monier) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

City & Suburban (Monier) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

City & Suburban (Monier) Limited

(Registration number: 09669753)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,610,018

2,729,472

Current assets

 

Debtors

6

3,054,088

2,539,219

Cash at bank and in hand

 

9,416

132,168

 

3,063,504

2,671,387

Creditors: Amounts falling due within one year

7

(4,303,285)

(2,824,699)

Net current liabilities

 

(1,239,781)

(153,312)

Total assets less current liabilities

 

1,370,237

2,576,160

Creditors: Amounts falling due after more than one year

7

(20,000)

(4,900,460)

Net assets/(liabilities)

 

1,350,237

(2,324,300)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

1,350,235

(2,324,302)

Shareholders' funds/(deficit)

 

1,350,237

(2,324,300)

 

City & Suburban (Monier) Limited

(Registration number: 09669753)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 28 November 2024 and signed on its behalf by:
 

.........................................
GA Charles
Director

 

City & Suburban (Monier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor Woodgate Studios
2-8 Games Road
Cockfosters
Barnet
Hertfordshire
EN4 9HN

These financial statements were authorised for issue by the Board on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

City & Suburban (Monier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Leasehold improvements

over the lease period

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.

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

 

City & Suburban (Monier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

UK corporation tax

521,958

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

3,010,408

18,184

3,028,592

Additions

284,958

1,200

286,158

Disposals

(474,344)

-

(474,344)

At 30 September 2023

2,821,022

19,384

2,840,406

Depreciation

At 1 October 2022

281,701

17,421

299,122

Charge for the year

62,707

681

63,388

Eliminated on disposal

(132,122)

-

(132,122)

At 30 September 2023

212,286

18,102

230,388

Carrying amount

At 30 September 2023

2,608,736

1,282

2,610,018

At 30 September 2022

2,728,708

764

2,729,472

Included within the net book value of land and buildings above is £1,908,993 (2022 - £2,127,000) in respect of long leasehold land and buildings and £699,743 (2022 - £601,708) in respect of leasehold property improvements.
 

 

City & Suburban (Monier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

176,917

Other debtors

3,054,088

2,362,302

 

3,054,088

2,539,219

Included in debtors is an amount due after one year £565,764 (2022 : £455,476)

 

City & Suburban (Monier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

1,020,113

10,000

Trade creditors

 

90,420

104,738

Taxation and social security

 

1,296,894

441,922

Accruals and deferred income

 

2,750

2,750

Other creditors

 

1,893,108

2,265,289

 

4,303,285

2,824,699

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

20,000

4,900,460

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

20,000

4,900,460

 

City & Suburban (Monier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Current loans and borrowings

2023
£

2022
£

Other borrowings

1,020,113

10,000

Other borrowings are secured by a fixed and floating charge over the company's assets and all undertaking of the company.

10

Related party transactions

As at 30 September 2023 an amount included in debtors is owed to the company by the director £1,652,470 (2022 : 1,344,495). Interest has been charged at commercial rates.

Included in other debtors is an amount of £529,008 (2022 : £269,501) owed by the related parties; St Edmunds Real Estate Limited £437,248 (2022 : £269,501), City & Suburban Industrial Limited £12,475 and Downwell LLP £79,285.

Included in other creditors is an amount of £742,477 (2022 : £993,615) owed to the related parties; City & Suburban Homes Limited £599,294 (2022 : £724,903), East Ten Homes Limited £130,929 (2022 : £132,579) and Heath Road Homes Limited £12,254 (2022 : £48,462) and Downwell LLP £Nil (2022 : £87,671)