2 2 Monterolle Properties Limited 05849817 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Property letting Digita Accounts Production Advanced 6.30.9574.0 true true 05849817 2023-10-01 2024-09-30 05849817 2024-09-30 05849817 bus:OrdinaryShareClass1 2024-09-30 05849817 core:CurrentFinancialInstruments 2024-09-30 05849817 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 05849817 core:Non-currentFinancialInstruments 2024-09-30 05849817 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 05849817 core:MoreThanFiveYears 1 2024-09-30 05849817 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 05849817 core:OfficeEquipment 2024-09-30 05849817 bus:SmallEntities 2023-10-01 2024-09-30 05849817 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05849817 bus:FilletedAccounts 2023-10-01 2024-09-30 05849817 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05849817 bus:RegisteredOffice 2023-10-01 2024-09-30 05849817 bus:Director1 2023-10-01 2024-09-30 05849817 bus:Director2 2023-10-01 2024-09-30 05849817 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 05849817 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05849817 bus:Agent1 2023-10-01 2024-09-30 05849817 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05849817 core:OfficeEquipment 2023-10-01 2024-09-30 05849817 countries:England 2023-10-01 2024-09-30 05849817 2023-09-30 05849817 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 05849817 core:OfficeEquipment 2023-09-30 05849817 2022-10-01 2023-09-30 05849817 2023-09-30 05849817 bus:OrdinaryShareClass1 2023-09-30 05849817 core:CurrentFinancialInstruments 2023-09-30 05849817 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05849817 core:Non-currentFinancialInstruments 2023-09-30 05849817 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 05849817 core:MoreThanFiveYears 1 2023-09-30 05849817 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 05849817 core:OfficeEquipment 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05849817

Monterolle Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Monterolle Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Monterolle Properties Limited

Company Information

Directors

Mr David Andrews

Charlotte Mowle

Registered office

First Floor
1551 Wimborne Road
Bournemouth
Dorset
BH10 7AZ

Accountants

Oak Accounting Ltd 27 Bascott Road
Wallisdown
Bournemouth
Dorset
BH11 8RJ

 

Monterolle Properties Limited

(Registration number: 05849817)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

986,564

986,837

Current assets

 

Debtors

5

9,594

40,825

Cash at bank and in hand

 

36,439

66,111

 

46,033

106,936

Creditors: Amounts falling due within one year

6

(34,576)

(40,185)

Net current assets

 

11,457

66,751

Total assets less current liabilities

 

998,021

1,053,588

Creditors: Amounts falling due after more than one year

6

(587,951)

(597,258)

Provisions for liabilities

(156)

(255)

Net assets

 

409,914

456,075

Capital and reserves

 

Called up share capital

7

2

2

Revaluation reserve

154,569

154,469

Retained earnings

255,343

301,604

Shareholders' funds

 

409,914

456,075

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2025 and signed on its behalf by:
 

.........................................
Mr David Andrews
Director

 

Monterolle Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
First Floor
1551 Wimborne Road
Bournemouth
Dorset
BH10 7AZ

These financial statements were authorised for issue by the Board on 20 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

Monterolle Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% reducing balance

Investment property

Investment property is included at fair value. Gains are recongnised in the income statement. Deferred taxation is provided in these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Monterolle Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

985,745

4,705

990,450

At 30 September 2024

985,745

4,705

990,450

Depreciation

At 1 October 2023

-

3,613

3,613

Charge for the year

-

273

273

At 30 September 2024

-

3,886

3,886

Carrying amount

At 30 September 2024

985,745

819

986,564

At 30 September 2023

985,745

1,092

986,837

Included within the net book value of land and buildings above is £985,745 (2023 - £985,745) in respect of freehold land and buildings.
 

5

Debtors

 

Monterolle Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Current

2024
£

2023
£

Other debtors

9,594

40,825

 

9,594

40,825

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,820

9,080

Taxation and social security

 

-

6,380

Accruals and deferred income

 

535

525

Other creditors

 

32,221

24,200

 

34,576

40,185

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

587,951

597,258

2024
£

2023
£

Due after more than five years

After more than five years by instalments

120,938

105,800

-

-

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

Monterolle Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

139,364

139,883

Other borrowings

448,587

457,375

587,951

597,258

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,820

9,080

9

Dividends

2024

2023

£

£

Interim dividend of £500.00 (2023 - £1,000.00) per ordinary share

1,000

2,000