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Company No: 14964912 (England and Wales)

MONTFORD WATCH COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 27 JUNE 2023 TO 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

MONTFORD WATCH COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 27 JUNE 2023 TO 30 JUNE 2024

Contents

MONTFORD WATCH COMPANY LTD

COMPANY INFORMATION

FOR THE FINANCIAL PERIOD FROM 27 JUNE 2023 TO 30 JUNE 2024
MONTFORD WATCH COMPANY LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL PERIOD FROM 27 JUNE 2023 TO 30 JUNE 2024
DIRECTOR C J Claydon (Appointed 27 June 2023)
REGISTERED OFFICE Lytchett House 13 Freeland Park
Wareham Road
Poole
Dorset
BH16 6FA
United Kingdom
COMPANY NUMBER 14964912 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
MONTFORD WATCH COMPANY LTD

BALANCE SHEET

AS AT 30 JUNE 2024
MONTFORD WATCH COMPANY LTD

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 30.06.2024
£
Fixed assets
Intangible assets 3 400
400
Current assets
Stocks 4 5,821
Debtors 5 576
Cash at bank and in hand 2,246
8,643
Creditors: amounts falling due within one year 6 ( 10,948)
Net current liabilities (2,305)
Total assets less current liabilities (1,905)
Net liabilities ( 1,905)
Capital and reserves
Called-up share capital 100
Profit and loss account ( 2,005 )
Total shareholder's deficit ( 1,905)

For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Montford Watch Company Ltd (registered number: 14964912) were approved and authorised for issue by the Director on 19 March 2025. They were signed on its behalf by:

C J Claydon
Director
MONTFORD WATCH COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 27 JUNE 2023 TO 30 JUNE 2024
MONTFORD WATCH COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 27 JUNE 2023 TO 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Montford Watch Company Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lytchett House 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 10 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of [amount of years] years which is their estimated useful economic life. Provision is made for any impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

Period from
27.06.2023 to
30.06.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 27 June 2023 0 0
Additions 440 440
At 30 June 2024 440 440
Accumulated amortisation
At 27 June 2023 0 0
Charge for the financial period 40 40
At 30 June 2024 40 40
Net book value
At 30 June 2024 400 400

4. Stocks

30.06.2024
£
Stocks 5,821

5. Debtors

30.06.2024
£
Prepayments 576

6. Creditors: amounts falling due within one year

30.06.2024
£
Accruals 600
Other creditors 10,348
10,948