Company Registration No. 06271864 (England and Wales)
William Monks (Holdings) Limited
Annual Report and Unaudited Financial Statements
For the Year Ended
30 September 2024
PAGES FOR FILING WITH REGISTRAR
WILLIAM MONKS (HOLDINGS) LIMITED
William Monks (Holdings) Limited
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
WILLIAM MONKS (HOLDINGS) LIMITED
William Monks (Holdings) Limited
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investment properties
3
973,393
973,393
Investments
4
402
402
973,795
973,795
Current assets
Trade and other receivables
5
43,942
40,799
Cash and cash equivalents
33,471
78,588
77,413
119,387
Current liabilities
6
(243,313)
(204,322)
Net current liabilities
(165,900)
(84,935)
Total assets less current liabilities
807,895
888,860
Provisions for liabilities
(154,508)
(154,508)
Net assets
653,387
734,352
Equity
Called up share capital
7
803
803
Retained earnings
652,584
733,549
Total equity
653,387
734,352
WILLIAM MONKS (HOLDINGS) LIMITED
William Monks (Holdings) Limited
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 February 2025 and are signed on its behalf by:
J Monks
Director
Company Registration No. 06271864
WILLIAM MONKS (HOLDINGS) LIMITED
William Monks (Holdings) Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

William Monks (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Floor 1, Capital House, 8 Pittman Court, Pittman Way, Fulwood, Preston, Lancashire, United Kingdom, PR2 9ZG.

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
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. The surplus or deficit on revaluation is recognised in the income statement.

1.3
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.5
Financial instruments

The company only has financial assets (debtor and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WILLIAM MONKS (HOLDINGS) LIMITED
William Monks (Holdings) Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.

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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.11

Group relief

The financial statements have been prepared based on the assumption that there will be no payments made for group relief surrendered.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
WILLIAM MONKS (HOLDINGS) LIMITED
William Monks (Holdings) Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
973,393

In the directors opinion the carrying value of investment property is equivalent to fair value.

4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
402
402
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
40,799
40,799
Other receivables
3,143
-
0
43,942
40,799
6
Current liabilities
2024
2023
£
£
Amounts owed to group undertakings
150,993
127,892
Taxation and social security
79,653
64,563
Other payables
12,667
11,867
243,313
204,322
7
Called up share capital

All shares have been allotted, called up and fully paid.

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