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REGISTERED NUMBER: 12234688 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

MONARCH SQUARE HOLDINGS LTD

MONARCH SQUARE HOLDINGS LTD (REGISTERED NUMBER: 12234688)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MONARCH SQUARE HOLDINGS LTD

Company Information
for the year ended 31 March 2024







Directors: Mrs M Korbasova
Mr G S J Bennett
Mr W Mills





Registered office: 1st Floor Bellevue House,
Althorp Road
London
SW17 7ED





Registered number: 12234688 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

MONARCH SQUARE HOLDINGS LTD (REGISTERED NUMBER: 12234688)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 84,516 66,363
Investment property 5 15,710,000 15,710,000
15,794,516 15,776,363

Current assets
Debtors 6 115,989 23,400
Cash at bank 309,502 348,511
425,491 371,911
Creditors
Amounts falling due within one year 7 647,277 389,081
Net current liabilities (221,786 ) (17,170 )
Total assets less current liabilities 15,572,730 15,759,193

Creditors
Amounts falling due after more than one
year

8

(12,022,810

)

(12,062,810

)

Provisions for liabilities 9 (687,107 ) (678,587 )
Net assets 2,862,813 3,017,796

Capital and reserves
Called up share capital 10 1 1
Non-distributable reserves 2,839,168 2,839,168
Retained earnings 23,644 178,627
Shareholders' funds 2,862,813 3,017,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MONARCH SQUARE HOLDINGS LTD (REGISTERED NUMBER: 12234688)

Statement of Financial Position - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:




Mrs M Korbasova - Director



Mr G S J Bennett - Director


MONARCH SQUARE HOLDINGS LTD (REGISTERED NUMBER: 12234688)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Monarch Square Holdings Ltd 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. Accounting policies

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
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.

Turnover
Turnover represents gross rents received. The company recognises revenue in the same period within which the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


MONARCH SQUARE HOLDINGS LTD (REGISTERED NUMBER: 12234688)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued
Deferred tax
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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 April 2023 104,609
Additions 47,593
At 31 March 2024 152,202
Depreciation
At 1 April 2023 38,246
Charge for year 29,440
At 31 March 2024 67,686
Net book value
At 31 March 2024 84,516
At 31 March 2023 66,363

5. Investment property
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 15,710,000
Net book value
At 31 March 2024 15,710,000
At 31 March 2023 15,710,000

At the balance sheet date fixed and floating charges were held over the property of the company. The charges include a negative pledge.

MONARCH SQUARE HOLDINGS LTD (REGISTERED NUMBER: 12234688)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Investment property - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 2,555,145
Valuation in 2022 380,000
Valuation in 2023 570,000
Cost 12,204,855
15,710,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 94,576 23,400
Other debtors 21,413 -
115,989 23,400

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 342,084 130,087
Amounts owed to group undertakings 23,600 3,401
Taxation and social security 9,297 27,677
Other creditors 272,296 227,916
647,277 389,081

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 12,022,810 12,062,810

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 687,107 678,587

Deferred
tax
£   
Balance at 1 April 2023 678,587
Provided during year 8,520
Balance at 31 March 2024 687,107

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1