Registered number
12095601
Montpelier Property Limited
Filleted Accounts
31 July 2024
Montpelier Property Limited
Registered number: 12095601
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 749,000 755,500
Current assets
Debtors 4 82,874 82,874
Cash at bank and in hand 82,091 98,428
164,965 181,302
Creditors: amounts falling due within one year 5 (12,541) (16,513)
Net current assets 152,424 164,789
Total assets less current liabilities 901,424 920,289
Creditors: amounts falling due after more than one year 6 (752,219) (771,966)
Net assets 149,205 148,323
Capital and reserves
Called up share capital 102 102
Revaluation reserve 7 122,092 122,092
Profit and loss account 27,011 26,129
Shareholders' funds 149,205 148,323
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K. Edwards
Director
Approved by the board on 24 April 2025
Montpelier Property Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the rents and other property income received or receivable, net of discounts.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Freehold buildings over 50 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 775,000
At 31 July 2024 775,000
Depreciation
At 1 August 2023 19,500
Charge for the year 6,500
At 31 July 2024 26,000
Net book value
At 31 July 2024 749,000
At 31 July 2023 755,500
4 Debtors 2024 2023
£ £
Other debtors 82,874 82,874
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,353 2,385
Taxation and social security costs 6,188 14,128
12,541 16,513
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 192,937 278,972
Other creditors 559,282 492,994
752,219 771,966
7 Revaluation reserve 2024 2023
£ £
At 1 August 2023 122,092 122,092
At 31 July 2024 122,092 122,092
8 Loans from directors
Description and conditions B/fwd Introduced Withdrawn C/fwd
£ £ £ £
K. Edwards
Amount due to the director at the balance sheet date 122,740 66,287 - 189,027
122,740 66,287 - 189,027
9 Related party transactions
Dividends amounting to £20,000 were payable to the directors.
At the balance sheet date there was £82,574 (2023 £82,574) receivable from Glostrup Property Limited, a company in which the director K. Edwards has an interest.
At the balance sheet date there was £12,362 (2023 £12,362) payable to Mr. A. Fields who is a member of the company. At the same date there was £209,705 (2023 £209,705) payable to International Model Management Limited, a company in which the director K. Edwards has an interest.
10 Controlling party
The company is controlled by the directors and voting members G. Edwards and K. Edwards.
11 Other information
Montpelier Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Studio 19
Deane House
27 Greenwood Place
London
NW5 1LB
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