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REGISTERED NUMBER: 00529362 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

MONTGOMERY GROUP LIMITED

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


MONTGOMERY GROUP LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: I R Angus
D B Angus



SECRETARY: G M Tsangari



REGISTERED OFFICE: 9 Manchester Square
London
London
W1U 3PL



REGISTERED NUMBER: 00529362 (England and Wales)



SENIOR STATUTORY AUDITOR: Neil Usher



AUDITORS: Thorne Lancaster Parker
Chartered Accountants &
Statutory Auditors
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

STRATEGIC REPORT
for the year ended 30 June 2024


The directors present their strategic report for the year ended 30 June 2024.

The company's principal activity is of organising and managing exhibitions.

REVIEW OF BUSINESS
The key financial highlights of the business are as follows:

The company's principal subsidiaries continued to perform strongly in the year ended 30 June 2014.


30 June 2024 30 June 2023
Income from group undertakings
Operating (Loss)/ Profit (£33,718) £16,782


The directors are of the opinion that the principal subsidiaries will continue to grow in the forthcoming financial year.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the company is derived from the highly competitive market in which it operates and the effect the domestic and the world economy has on the exhibition industry. The directors intend to maintain and grow the position the company has established within its industry.

The company has kept close control over costs and will continue to do so in order to maintain profitability in the future.

GOING CONCERN
The Directors have reviewed the Financial Reporting Council's Guidance on the going concern basis of accounting and reporting on solvency and liquidity risks that was issued in April 2016 and current guidance.

When assessing the company's ability to continue trading as a going concern the directors have reviewed the cash flows of the company for the 12 months to 31 March 2026. The review has encapsulated cash flows and working capital requirements as known at the date of this report.

The Directors thus consider that the Company have adequate resources to continue their operational existence for the foreseeable future. Accordingly, they continue to adopt a going concern basis of accounting in preparing the Annual Report and Accounts.

FUTURE DEVELOPMENTS
The group continues to seek opportunities to run events in the UK and overseas.

ON BEHALF OF THE BOARD:





D B Angus - Director


18 March 2025

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

REPORT OF THE DIRECTORS
for the year ended 30 June 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of organising and managing exhibitions.

DIVIDENDS
During the year the company paid a dividend of £15 (2023: £5) per ordinary share.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

I R Angus
D B Angus

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

REPORT OF THE DIRECTORS
for the year ended 30 June 2024


AUDITORS
The auditors, Thorne Lancaster Parker, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:



G M Tsangari - Secretary


18 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MONTGOMERY GROUP LIMITED


Opinion
We have audited the financial statements of Montgomery Group Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Emphasis of matter
We draw attention to note 3 in the financial statements, concerning the company's ability to continue as a going concern. As stated in note 3, these events or conditions, along with the other matters as set forth in the note indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MONTGOMERY GROUP LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MONTGOMERY GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and
determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006) and compliance with the relevant direct and indirect tax regulation in the United Kingdom. In addition, the
Company has to comply with laws and regulations relating to its operations, including UK employment laws, health and safety, and GDPR.

- We understood how Montgomery Group Limited is complying with those frameworks by making enquires with
management and those charged with governance to understand how the Company maintains and communicates policies and procedures in these areas. We understood any controls put in place by management to reduce the opportunities of fraudulent transactions.

- We assessed the susceptibility of the company's financial statements to material misstatements including how fraud
might occur through internal team conversations and inquiry of management and those charged with governance.
Through these procedures we determined there to be a risk of management override associated with revenue and a fraud risk around transactions at the year end. We have performed tests of detail, including understanding of the nature of the transactions, verifying that the margin is appropriate, and verifying the clerical accuracy of the revenue recognised. In relation to management override, we selected a sample from the entire population of journals, including manual journals, identifying specific transactions which did not meet our expectations, in order to investigate, understand and agree to source documentation. We selected a sample of revenue transactions recorded before the year end and obtained documentation to verify that revenue adjustments had been recorded in the appropriate period.

- Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Our procedures involved verifying that material transactions are recorded in compliance with FRS 102 and where appropriate Companies Act 2006. Compliance with other operational laws and regulations were covered through our inquiry with no indication of non-compliance identified.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MONTGOMERY GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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 members as a body, for our audit work, for this report, or for the opinions we have formed.




Neil Usher (Senior Statutory Auditor)
for and on behalf of Thorne Lancaster Parker
Chartered Accountants &
Statutory Auditors
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

18 March 2025

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

STATEMENT OF COMPREHENSIVE INCOME
for the year ended 30 June 2024

2024 2023
Notes £    £   

REVENUE 4 120,000 120,000

Administrative expenses (153,718 ) (103,218 )
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT BEFORE TAXATION (33,718 ) 16,782

Tax on (loss)/profit 7 - -
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(33,718

)

16,782

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
(LOSS)/INCOME FOR THE YEAR

(33,718

)

16,782

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

STATEMENT OF FINANCIAL POSITION
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 9 689,384 788,054
Investments 10 3,208,035 3,258,035
3,897,419 4,046,089

CREDITORS
Amounts falling due within one year 11 (1,518,149 ) (1,033,101 )
NET CURRENT LIABILITIES (1,518,149 ) (1,033,101 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,379,270

3,012,988

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Retained earnings 13 2,369,270 3,002,988
SHAREHOLDERS' FUNDS 2,379,270 3,012,988

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





D B Angus - Director


MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

STATEMENT OF CHANGES IN EQUITY
for the year ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 10,000 3,186,206 3,196,206

Changes in equity
Profit for the year - 16,782 16,782
Total comprehensive income - 16,782 16,782
Dividends - (200,000 ) (200,000 )
Balance at 30 June 2023 10,000 3,002,988 3,012,988

Changes in equity
Deficit for the year - (33,718 ) (33,718 )
Total comprehensive loss - (33,718 ) (33,718 )
Dividends - (600,000 ) (600,000 )
Balance at 30 June 2024 10,000 2,369,270 2,379,270

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Montgomery Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements of the company are consolidated in the financial statements of Angus Montgomery Limited. The consolidated financial statements of Angus Montgomery Limited are available from the registered office.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

Preparation of consolidated financial statements
The financial statements contain information about Montgomery Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Angus Montgomery Limited, 9 Manchester Square, London W1U 3PL.

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including explanations of future events that are believe to be reasonable under the circumstances.

a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below;

(i) Impairment provision on investment in subsidiary undertaking

At the end of each period, investment in subsidiary undertaking is assessed for impairment. If investment in subsidiary undertaking is impaired, the carrying value of the investment is reduced to its recoverable amount and the impairment loss is recognised in the income statement.

The impairment assessment requires management's judgement on the investment concerned,, taking into consideration the trading results of the subsidiary undertaking.

(ii) Useful economic life of trade marks.
The annual amortisation charge for intangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on the performance of the relevant shows. The useful economic life of trade marks is considered to be 20 years.

Going concern
As described on the balance sheet the company has total net current liabilities of £1,518,149. These net current liabilities comprise of amounts owed to group companies of £1,513,149. Accordingly the company is dependent upon the continued support of Angus Montgomery Limited and its fellow subsidiaries in order to meet its day to day working capital requirements.

The board of Angus Montgomery Limited has indicated in writing that it will continue to financially support the company for a period of at least one year from the approval date of these financial statements. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities.

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is recognised at the fair value of the consideration received or receivable for sale of goods to external customers in the ordinary nature of the business. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue represents management fee charged to in respect of services performed for group companies.

Revenue is shown net of Value Added Tax.

Divided income
Dividend income is recognised when the rights to receive payments is established.

Intangible assets
Intangible assets are stated at cost on acquisition less accumulated amortisation and accumulated impairment losses. Amortisation is calculated using the straight-line method to allocate the depreciable amount of the assets to their residual values over their estimated useful life as follows:

Exhibition rights - over 20 years.

Amortisation is charged as Administrative expenses in the Statement of Comprehensive Income.

Where market factors, such as profitability of the relevant exhibition, indicate that the residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances.

The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

Investments in subsidiaries
Investments in subsidiary companies is held at cost less accumulated impairment losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.


MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


3. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 currencies
The financial statements are presented in sterling which is also the the functional currency of the company.

Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the standard exchange rate ruling for the period.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date.

Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial liabilities and equity
Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Bank overdrafts and invoice discounting facility are presented within creditors: amounts falling due within one year.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

b) Equity instruments
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. REVENUE

The revenue and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of revenue by geographical market is given below:

2024 2023
£    £   
United Kingdom 120,000 120,000
120,000 120,000

5. EMPLOYEES AND DIRECTORS

The average number of employees during the year were 2 (2023: 2).

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2024 2023
£    £   
Directors' remuneration - -

6. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£    £   
Trade marks amortisation 98,670 98,670
Auditors' remuneration 5,000 4,500

Emoluments of those directors who are directors of the ultimate holding company are shown in that entities accounts.

7. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the year ended 30 June 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (33,718 ) 16,782
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 20.500%)

(8,430

)

3,440

Effects of:
Expenses not deductible for tax purposes 12,500 -
Group relief (4,070 ) (3,440 )
Total tax charge - -

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 0.25 each
Final 600,000 200,000

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


9. INTANGIBLE FIXED ASSETS
Trade
marks
£   
COST
At 1 July 2023
and 30 June 2024 1,971,391
AMORTISATION
At 1 July 2023 1,183,337
Amortisation for year 98,670
At 30 June 2024 1,282,007
NET BOOK VALUE
At 30 June 2024 689,384
At 30 June 2023 788,054

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 3,880,035
Disposals (432,000 )
At 30 June 2024 3,448,035
PROVISIONS
At 1 July 2023 622,000

Eliminated on disposal (432,000 )
Impairments 50,000
At 30 June 2024 240,000
NET BOOK VALUE
At 30 June 2024 3,208,035
At 30 June 2023 3,258,035

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


10. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Montgomery Events Limited.
Registered office: 9 Manchester Square London W1U 3PL.
Nature of business: Organizing and managing exhibitions
%
Class of shares: holding
A Ordinary 100.00
B Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 990,674 704,522
Profit for the year 286,152 134,233

Overseas Trade Show Agencies Limited
Registered office: 9 Manchester Square London W1U 3PL.
Nature of business: Agent for overseas and UK exhibition organisers.
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 152,518 145,081
Profit for the year 7,437 97,436

Montgomery International Limited
Registered office: 9 Manchester Square London W1U 3PL.
Nature of business: Organising and managing of overseas exhibitions.
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 279,448 282,364
(Loss)/profit for the year (2,916 ) 2,417

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,513,149 1,028,601
Accruals and deferred income 5,000 4,500
1,518,149 1,033,101

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40,000 Ordinary 0.25 10,000 10,000

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

13. RESERVES
Retained
earnings
£   

At 1 July 2023 3,002,988
Deficit for the year (33,718 )
Dividends (600,000 )
At 30 June 2024 2,369,270

14. ULTIMATE PARENT COMPANY

The Directors consider the ultimate parent undertaking of the company to be Angus Montgomery Limited, a company registered in England and Wales, whose registered office is 9 Manchester Square, London, England, W1U 3PL.

The largest and smallest group of undertakings for which the group accounts have been drawn up is that headed by Angus Montgomery Limited. The consolidated accounts of the parent company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CE14 3UZ.

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

MONTGOMERY GROUP LIMITED (REGISTERED NUMBER: 00529362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


15. RELATED PARTY DISCLOSURES - continued

The directors of the company are considered to be the key management personnel and the details of their remunerations is disclosed in the accounts of Angus Montgomery Limited.

16. POST BALANCE SHEET EVENTS

There were no material events post year end requiring disclosure.