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Registered number: 14175064
Montaine Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 30 June 2024
Elsby and Company Ltd
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors Mrs Elizabeth Stannard
Mr Matthew Stannard
Company Number 14175064
Registered Office 71-75 Shelton Street
Govent Garden
London
WC2H 9JQ
Accountants Elsby and Company Ltd
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 June 2024.
Directors
The directors who held office during the year were as follows:
Mrs Elizabeth Stannard
Mr Matthew Stannard
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mr Matthew Stannard
Director
17th January 2025
Page 2
Page 3
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 June 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
17th January 2025
Elsby and Company Ltd
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 3
Page 4
Profit and Loss Account
30 June 2024 30 June 2023
Notes £ £
TURNOVER 226,587 265,390
Cost of sales (151,843 ) (145,059 )
GROSS PROFIT 74,744 120,331
Administrative expenses (37,470 ) (31,314 )
OPERATING PROFIT 37,274 89,017
Interest payable and similar charges (6 ) -
PROFIT BEFORE TAXATION 37,268 89,017
Tax on Profit (7,206 ) (16,000 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 30,062 73,017
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,239 7,897
7,239 7,897
CURRENT ASSETS
Stocks 5 - 21,000
Debtors 6 54,689 405
Cash at bank and in hand 39,835 55,282
94,524 76,687
Creditors: Amounts Falling Due Within One Year 7 (67,682 ) (25,565 )
NET CURRENT ASSETS (LIABILITIES) 26,842 51,122
TOTAL ASSETS LESS CURRENT LIABILITIES 34,081 59,019
NET ASSETS 34,081 59,019
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 34,079 59,017
SHAREHOLDERS' FUNDS 34,081 59,019
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Page 6
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Matthew Stannard
Director
17th January 2025
The notes on pages 7 to 9 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Montaine Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14175064 . The registered office is 71-75 Shelton Street, Govent Garden, London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 1,026 8,355 661 10,042
Additions 166 - 1,333 1,499
As at 30 June 2024 1,192 8,355 1,994 11,541
Depreciation
As at 1 July 2023 256 1,671 218 2,145
Provided during the period 234 1,337 586 2,157
As at 30 June 2024 490 3,008 804 4,302
Net Book Value
As at 30 June 2024 702 5,347 1,190 7,239
As at 1 July 2023 770 6,684 443 7,897
5. Stocks
30 June 2024 30 June 2023
£ £
Work in progress - 21,000
6. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 1,224 405
Other debtors 53,465 -
54,689 405
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 1,504 2,979
Bank loans and overdrafts 195 -
Other creditors 55,739 2,811
Taxation and social security 10,244 19,775
67,682 25,565
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8. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 2 2
Page 9