REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
MONARCH PACKAGING LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
MONARCH PACKAGING LIMITED |
MONARCH PACKAGING LIMITED (REGISTERED NUMBER: 00951164) |
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 |
MONARCH PACKAGING LIMITED |
Company Information |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3rd Floor |
St George's House |
56 Peter Street |
Manchester |
M2 3NQ |
MONARCH PACKAGING LIMITED (REGISTERED NUMBER: 00951164) |
Balance Sheet |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
MONARCH PACKAGING LIMITED (REGISTERED NUMBER: 00951164) |
Balance Sheet - continued |
31 MARCH 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MONARCH PACKAGING LIMITED (REGISTERED NUMBER: 00951164) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Monarch Packaging Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
Investments are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
The Company only enters into basic financial instruments, other than investments, that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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. |
Foreign exchange |
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit and loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MONARCH PACKAGING LIMITED (REGISTERED NUMBER: 00951164) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The market value of listed investments at 31 March 2024 was £94,162 (2023 - £70,426). |
Included in other investments is a gold bar, which has been revalued to market value at 31 March 2024 of £14,064 (2023 - £12,856). |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Directors' loan accounts | 1,399 | 1,087 |
Accruals and deferred income |
6. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Other timing differences | 6,387 | 3,680 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Charge to Income Statement during year |
Balance at 31 March 2024 |
The deferred taxation is calculated on unrealised gains on investments at a rate of 25%. |
MONARCH PACKAGING LIMITED (REGISTERED NUMBER: 00951164) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 31 March 2024, the company owed the director Mr W Hayward £1,399 (2023 - £1,087). This amount is included within other creditors due within one year. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr W Hayward by virtue of his controlling shareholding in the company. |