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REGISTERED NUMBER: 01300374 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN R MONTGOMERY LIMITED

JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


JOHN R MONTGOMERY LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mrs M A Montgomery
W R Montgomery





SECRETARY: Mrs M A Montgomery





REGISTERED OFFICE: Little Brooksend Farm
Canterbury Road
Brooksend
Birchington
Kent
CT7 0JW





REGISTERED NUMBER: 01300374 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 199,193 208,989

CURRENT ASSETS
Inventories 6 275 3,159
Debtors 7 7,315 6,263
Cash at bank 251,171 221,107
258,761 230,529
CREDITORS
Amounts falling due within one year 8 (7,867 ) (15,713 )
NET CURRENT ASSETS 250,894 214,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

450,087

423,805

CAPITAL AND RESERVES
Called up share capital 9 18,000 18,000
Share premium 95,438 95,438
Retained earnings 336,649 310,367
SHAREHOLDERS' FUNDS 450,087 423,805

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:




Mrs M A Montgomery - Director


JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

John R Montgomery 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue represents the total amount receivable, excluding value added tax, for goods sold during the year in the ordinary course of business.

Revenue is recognised at the fair value of the consideration received or receivable for sale of goods to external customers in the ordinary nature of the business. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.

Other income

Rental income is recognised on a straight line basis over the lease-term and is presented within other operating income.

Tangible fixed assets
Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Land and Buildings over 200 years
Plant and machinery 15% per annum
Fixtures and fittings 10% per annum
Motor vehicles20% per annum


JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items. Inventories are recognised as an expense in the period in which the related revenue is generated.

Crops, stores and cultivations are valued at the lower of cost and net realisable value. Cost of cultivations include overheads appropriate to the stage of cultivation.

At the end of each period, inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade debtors, other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors, other creditors and loans from directors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 212,060 97,919 9,998 19,234 339,211
DEPRECIATION
At 1 April 2023 37,309 63,681 9,998 19,234 130,222
Charge for year 1,061 8,735 - - 9,796
At 31 March 2024 38,370 72,416 9,998 19,234 140,018
NET BOOK VALUE
At 31 March 2024 173,690 25,503 - - 199,193
At 31 March 2023 174,751 34,238 - - 208,989

6. INVENTORIES
2024 2023
£    £   
Crops and cultivations - 2,939
Livestock 275 220
275 3,159

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 124 160
VAT 723 517
Prepayments and accrued income 6,468 5,586
7,315 6,263

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 4,319 3,500
Other creditors 210 210
Accruals and deferred income 3,338 12,003
7,867 15,713

JOHN R MONTGOMERY LIMITED (REGISTERED NUMBER: 01300374)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,500 Ordinary £1 4,500 4,500
13,500 Preferred Ordinary £1 13,500 13,500
18,000 18,000

The issued preference shares carry no voting rights, are irredeemable and the right to a dividend is at the Company's discretion . The issued preference shares are therefore included within equity.

The ordinary shares carry voting rights and there are no restrictions on repayment of capital and distribution of dividends.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M A Montgomery.

The ultimate controlling party is the director, Mrs M A Montgomery.