Registration number: 02355208

Montague Organic Gardens Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Montague Organic Gardens Limited

Company Information

Directors

Mrs Susan Rosamond Dowding Mr Charles Dowding

Registered office

Lower Farm House Shepton Montague Wincanton Somerset BA9 8JG

Accountants

Hatherleigh Limited Chartered Accountants & Business AdvisersUnit D Green Barn West Down Farm Corton Denham Sherborne Dorset DT9 4LG

Montague Organic Gardens Limited

(Registration number: 02355208)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	24,801	25,840
Investment property	5	4,510,000	2,340,000
		4,534,801	2,365,840
Current assets
Stocks	6	27,600	28,450
Debtors	7	67,561	70,822
Cash at bank and in hand		12,009	60,113
		107,170	159,385
Creditors: Amounts falling due within one year	8	(24,707)	(10,939)
Net current assets		82,463	148,446
Total assets less current liabilities		4,617,264	2,514,286
Provisions for liabilities		(866,794)	(361,101)
Net assets		3,750,470	2,153,185
Capital and reserves
Called up share capital	9	23,340	23,340
Share premium reserve		1,550,940	1,550,940
Capital redemption reserve		102	102
Retained earnings		2,176,088	578,803
Shareholders' funds		3,750,470	2,153,185

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

Montague Organic Gardens Limited

(Registration number: 02355208)
Balance Sheet as at 31 December 2024

......................................... Mrs Susan Rosamond Dowding Director

Montague Organic Gardens Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Lower Farm House
Shepton Montague
Wincanton
Somerset
BA9 8JG

These financial statements were authorised for issue by the Board on 25 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Montague Organic Gardens Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	20% Reducing Balance
Buildings	2% Straight Line
Office Equipment	25% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed 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.

Montague Organic Gardens Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Montague Organic Gardens Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	25,200	6,954	32,154
Additions	-	81	81
At 31 December 2024	25,200	7,035	32,235
Depreciation
At 1 January 2024	504	5,810	6,314
Charge for the year	504	616	1,120
At 31 December 2024	1,008	6,426	7,434
Carrying amount
At 31 December 2024	24,192	609	24,801
At 31 December 2023	24,696	1,144	25,840

Included within the net book value of land and buildings above is £24,192 (2023 - £24,696) in respect of freehold land and buildings.
 

5	Investment properties

	2024 £
At 1 January	2,340,000
Fair value adjustments	2,170,000
At 31 December	4,510,000

6

Stocks

	2024 £	2023 £
Other inventories	27,600	28,450

7

Debtors

Current	2024 £	2023 £
Other debtors	67,561	70,822
	67,561	70,822

Montague Organic Gardens Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	-	4,168
Accruals and deferred income	1,100	3,480
Other creditors	23,607	3,291
	24,707	10,939

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A Shares of £1 each	21,667	21,667	21,667	21,667
Ordinary B Shares of £1 each	1,673	1,673	1,673	1,673
	23,340	23,340	23,340	23,340

10	Related party transactions

Montague Organic Gardens Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	11,624	8,897

Summary of transactions with other related parties

Included within debtors is a loan made to a family member of the directors of £66940. The loan has no fixed date of repayment and interest will be charged upon repayment.