Company registration number 10133952 (England and Wales)
BESPOKE MONTPELLIER INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BESPOKE MONTPELLIER INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
BESPOKE MONTPELLIER INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,042
9,229
Investment property
4
1,700,000
1,700,000
1,704,042
1,709,229
Current assets
Stocks
70,000
70,000
Cash at bank and in hand
10,747
25,507
80,747
95,507
Creditors: amounts falling due within one year
(448,320)
(496,061)
Net current liabilities
(367,573)
(400,554)
Total assets less current liabilities
1,336,469
1,308,675
Creditors: amounts falling due after more than one year
(1,121,078)
(1,121,078)
Provisions for liabilities
(28,999)
(29,985)
Net assets
186,392
157,612
Capital and reserves
Called up share capital
6
1
1
Revaluation reserve
7
120,351
120,351
Profit and loss reserves
66,040
37,260
Total equity
186,392
157,612
BESPOKE MONTPELLIER INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 13 January 2025 and are signed on its behalf by:
Mr O J Bishop
Director
Company registration number 10133952 (England and Wales)
BESPOKE MONTPELLIER INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Bespoke Montpellier Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Manor Park Business Centre, Mackenzie Way, Cheltenham, Gloucestershire, England, GL51 9TX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention as modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BESPOKE MONTPELLIER INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Total
£
Cost
At 1 May 2023 and 30 April 2024
20,747
Depreciation and impairment
At 1 May 2023
11,518
Depreciation charged in the year
5,187
At 30 April 2024
16,705
Carrying amount
At 30 April 2024
4,042
At 30 April 2023
9,229
BESPOKE MONTPELLIER INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 May 2023 and 30 April 2024
1,700,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2023. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The director considers the valuation remains applicable at 30 April 2024.
5
Loans and overdrafts
2024
2023
£
£
Bank loans
1,121,078
1,121,078
Payable after one year
1,121,078
1,121,078
The bank borrowings are secured by a fixed and floating charge over the freehold property together with all buildings and fixtures thereon.
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 50p each
2
2
1
1
7
Revaluation reserve
2024
2023
£
£
At the beginning of the year
120,351
140,601
Revaluation in year
-
(20,250)
At the end of the year
120,351
120,351
BESPOKE MONTPELLIER INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Related party transactions
O J Bishop
Director and shareholder
In a previous period Mr Bishop loaned the company £249,578 as working capital. During the year the company repaid Mr Bishop £24,500. The advance is interest free, unsecured and repayable on demand. The amount due to the related party at the balance sheet date was £225,078 (2023: £249,578).
S J Bishop deceased
Former director and shareholder
In a previous period Mr Bishop loaned the company £238,684 as working capital. During the year the company repaid Mr Bishop £24,350. The advance is interest free, unsecured and repayable on demand. The amount due to the related party at the balance sheet date was £214,334 (2023: £238,684).