MonDeChe Limited 13951043 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the development of building projects Digita Accounts Production Advanced 6.30.9574.0 true true 13951043 2023-04-01 2024-03-31 13951043 2024-03-31 13951043 core:CurrentFinancialInstruments 2024-03-31 13951043 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13951043 core:Non-currentFinancialInstruments 2024-03-31 13951043 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 13951043 bus:SmallEntities 2023-04-01 2024-03-31 13951043 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13951043 bus:FilletedAccounts 2023-04-01 2024-03-31 13951043 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13951043 bus:RegisteredOffice 2023-04-01 2024-03-31 13951043 bus:Director2 2023-04-01 2024-03-31 13951043 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13951043 core:OtherRelatedParties 2023-04-01 2024-03-31 13951043 countries:EnglandWales 2023-04-01 2024-03-31 13951043 2022-03-03 2023-03-31 13951043 2023-03-31 13951043 core:CurrentFinancialInstruments 2023-03-31 13951043 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13951043 core:Non-currentFinancialInstruments 2023-03-31 13951043 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13951043

Prepared for the registrar

MonDeChe Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

MonDeChe Limited

(Registration number: 13951043)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

18,141

-

Current assets

 

Stocks

5

4,839,607

184,202

Debtors

6

44,241

208,488

Cash at bank and in hand

 

43,511

159,142

 

4,927,359

551,832

Creditors: Amounts falling due within one year

7

(2,774,996)

(565,232)

Net current assets/(liabilities)

 

2,152,363

(13,400)

Total assets less current liabilities

 

2,170,504

(13,400)

Creditors: Amounts falling due after more than one year

7

(2,692,745)

-

Net liabilities

 

(522,241)

(13,400)

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 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:
 


H C Yan
Director

 

MonDeChe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

1

General information

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

The address of its registered office is:
Montpellier House
Montpellier Drive
Cheltenham
GL50 1TY

 

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

MonDeChe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

4

Investment property freehold

£

Additions

18,141

There has been no valuation of the investment property freehold by an independent valuer.

 

5

Stocks

2024
£

2023
£

Work in progress

4,839,607

184,202

At 31 March 2024, £146,562 (2023: £nil) of finance charges are included in work in progress.

 

6

Debtors

2024
£

2023
£

Receivables from related parties

18,082

-

Prepayments

-

189,246

Other debtors

26,159

19,242

44,241

208,488

 

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

915,136

-

Trade creditors

 

332,223

4,230

Amounts due to related parties

 

802,549

317,502

Accruals and deferred income

 

495,088

13,500

Other creditors

 

230,000

230,000

 

2,774,996

565,232

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

2,692,745

-

 

MonDeChe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

915,136

-

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

2,692,745

-

Loans are secured on the property held in Work In Progress at the year end.

 

9

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.

 

 

10

Parent and ultimate parent undertaking

The company's immediate parents are Henry Hampton Holding Limited and Pivotal Investments Limited, incorporated in England and Wales.