REGISTERED NUMBER: 01780295 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MONAGHAN'S PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G J Monaghan

A J Hartley

SECRETARY:

A J Hartley

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

01780295 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

4

43,732

59,002

Investment property

5

2,120,000

2,120,000

2,163,732

2,179,002

CURRENT ASSETS

Debtors

6

29,074

24,226

Cash at bank

1,808,409

1,905,482

1,837,483

1,929,708

CREDITORS

Amounts falling due within one year

7

74,704

41,592

NET CURRENT ASSETS

1,762,779

1,888,116

TOTAL ASSETS LESS CURRENT LIABILITIES

3,926,511

4,067,118

CREDITORS

Amounts falling due after more than one year

8

(447,517

)

(488,514

)

PROVISIONS FOR LIABILITIES

(31,233

)

(26,638

)

NET ASSETS

3,447,761

3,551,966

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

564,679

564,679

Retained earnings

2,882,982

2,987,187

3,447,761

3,551,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

A J Hartley - Director

1.	STATUTORY INFORMATION

Monaghan's Property Limited 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.

Turnover

Turnover represents the following types of income:

Rental income

Income from the sale of properties

All income is recognised on a receivable basis.

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

-

25% on cost

Motor vehicles

-

25% on reducing balance

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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES

The average number of employees during the year was 2 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

10,378

57,890

68,268

DEPRECIATION

At 1 April 2024

8,865

401

9,266

Charge for year

898

14,372

15,270

At 31 March 2025

9,763

14,773

24,536

NET BOOK VALUE

At 31 March 2025

615

43,117

43,732

At 31 March 2024

1,513

57,489

59,002

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,120,000

NET BOOK VALUE

At 31 March 2025

2,120,000

At 31 March 2024

2,120,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

324,185

Cost

1,795,815

2,120,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,562

3,890

Other debtors

26,512

13,262

Directors' loan accounts

-

4,545

Tax

-

2,529

29,074

24,226

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

16

238

Tax

12,719

-

Directors' loan accounts

57,620

36,827

Accrued expenses

4,349

4,527

74,704

41,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

447,517

488,514

9.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

564,679

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

A J Hartley

Balance outstanding at start of year

4,545

(6,263

)

Amounts advanced

-

29,270

Amounts repaid

(4,664

)

(18,462

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(119

)

4,545

During the year, G J Monaghan increased his loan to the company. As at 31 March 2025, the company owed him £57,501 (2024: £36,827).

These balances represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Monaghan Holdings Limited.

This was by virtue of their 100% holding of the issued share capital.