Company Registration No. 6511972 (England and Wales)
Montrose Residential Limited
Unaudited accounts
for the year ended 30 September 2024
Montrose Residential Limited
Unaudited accounts
Contents
Montrose Residential Limited
Company Information
for the year ended 30 September 2024
Directors
Mr D M Peterman
Mrs S W Peterman
Company Number
6511972 (England and Wales)
Registered Office
Old Ship House
Wharfe Lane
Henley on Thames
Oxfordshire
RG9 2LL
Accountants
ST Accountancy Ltd
8 Clappentail Park
Lyme Regis
Dorset
DT7 3NB
Montrose Residential Limited
Statement of financial position
as at 30 September 2024
Cash at bank and in hand
139,530
113,685
Creditors: amounts falling due within one year
(187,488)
(104,839)
Net current assets
877,867
829,771
Net assets
877,867
829,771
Called up share capital
1,000
1,000
Profit and loss account
876,867
828,771
Shareholders' funds
877,867
829,771
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by
Mr D M Peterman
Director
Company Registration No. 6511972
Montrose Residential Limited
Notes to the Accounts
for the year ended 30 September 2024
Montrose Residential Limited is a private company, limited by shares, registered in England and Wales, registration number 6511972. The registered office is Old Ship House, Wharfe Lane, Henley on Thames, Oxfordshire, RG9 2LL.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Trade debtors are amounts due from students for renting accommodation 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.
Amounts falling due within one year
Amounts due from group undertakings etc.
907,667
775,667
Accrued income and prepayments
16,158
5,046
Montrose Residential Limited
Notes to the Accounts
for the year ended 30 September 2024
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
92,425
35,009
Taxes and social security
92,288
67,289
Loans from directors
775
541
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £3,627,778 (2023 - £3,628,445). These relate to ten bank loans in the parent company, Metro Student Accommodation Limited. There are fixed charges over the properties, which are owned by Metro Student Accommodation Limited, on nine of the loans. Four of the loans also have a fixed and floating charge over the assets of the group including Montrose Residential Limited.
Allotted, called up and fully paid:
900 Ordinary A shares of £1 each
900
900
100 Ordinary B shares of £1 each
100
100
The company's immediate parent is Metro Student Accommodation Limited, incorporated in England.
Registered office address: Old Ship House, Wharfe Lane, Henley-On-Thames, RG9 2LL
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Average number of employees
During the year the average number of employees was 2 (2023: 2).