| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st October 2024 |
| for |
| Monto Holdings Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st October 2024 |
| for |
| Monto Holdings Limited |
| Monto Holdings Limited (Registered number: SC089066) |
| Contents of the Financial Statements |
| for the Year Ended 31st October 2024 |
| Page |
| Company Information | 1 |
| Report of the Accountants | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| Monto Holdings Limited |
| Company Information |
| for the Year Ended 31st October 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 77/2 Hanover Street |
| Edinburgh |
| EH2 1EE |
| Monto Holdings Limited |
| Report of the Accountants to the Directors of |
| Monto Holdings Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st October 2024 set out on pages four to eleven and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| 77/2 Hanover Street |
| Edinburgh |
| EH2 1EE |
| Monto Holdings Limited (Registered number: SC089066) |
| Balance Sheet |
| 31st October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Investments | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Monto Holdings Limited (Registered number: SC089066) |
| Balance Sheet - continued |
| 31st October 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Monto Holdings Limited (Registered number: SC089066) |
| Notes to the Financial Statements |
| for the Year Ended 31st October 2024 |
| 1. | STATUTORY INFORMATION |
| Monto Holdings Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Monto Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in nonputtable ordinary shares. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Monto Holdings Limited (Registered number: SC089066) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st October 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1st November 2023 |
| Disposals | ( |
) | ( |
) |
| At 31st October 2024 |
| Depreciation |
| At 1st November 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st October 2024 |
| Net book value |
| At 31st October 2024 |
| At 31st October 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| 2024 | 2023 |
| £ | £ |
| Shares in group undertakings |
| Other investments not loans |
| Additional information is as follows: |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| Cost |
| At 1st November 2023 | 744,860 |
| Additions | 734,258 |
| At 31st October 2024 | 1,479,118 |
| Provisions |
| At 1st November 2023 | - | (31,585 | ) | (31,585 | ) |
| Exchange differences | - | 15,326 | 15,326 |
| At 31st October 2024 | - | (16,259 | ) | (16,259 | ) |
| Net book value |
| At 31st October 2024 | 1,495,377 |
| At 31st October 2023 | 776,445 |
| Monto Holdings Limited (Registered number: SC089066) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st October 2024 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| Other |
| loans |
| £ |
| New in year |
| Other movement | ( |
) |
| At 31st October 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| Fair value |
| At 1st November 2023 |
| and 31st October 2024 |
| Net book value |
| At 31st October 2024 |
| At 31st October 2023 |
| Fair value at 31st October 2024 is represented by: |
| £ |
| Valuation in 2023 | 628,904 |
| Cost | 1,171,096 |
| 1,800,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 1,171,096 | 1,171,096 |
| Investment property was valued on an open market basis on 31st October 2023 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 8. | CURRENT ASSET INVESTMENTS |
| 2024 | 2023 |
| £ | £ |
| Loans |
| Monto Holdings Limited (Registered number: SC089066) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st October 2024 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Other loans (see note 11) |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 2,558 | 2,922 |
| Other creditors |
| Directors' current accounts | 359,440 | 49,023 |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 11) |
| 11. | LOANS |
| In 2020 the company received a Business Bounce Back Loan. The loan term is 72 months at a fixed rate of interest at 2.5% per annum. |
| There are no capital repayments in the first 12 months and interest charges for that period are covered by the Government Business Interruption Payment ("BIP"). |
| Capital and interest repayments commence 12 months after drawdown. Capital repayments are payable in equal monthly installments over the remaining 60 months, along with the relevant monthly interest charge. |
| For the period where BIP is applied to interest charges, these costs are simultaneously treated as Government grants receivable and finance costs payable in the profit and loss account. |
| During the year, the company received a loan of £250,000. The loan is repayable on demand and interest is being charged at 5% per annum. |