MONITOR_EXPLORATION_LIMITED_31_Jan_2025_companies_house_set_of

Monitor Exploration Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Monitor Exploration Limited

Year ended

31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Monitor Exploration Limited

for the year ended

31 January 2025

which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Monitor Exploration Limited

, as a body, in accordance with the terms of our engagement letter dated 9 October 2024. Our work has been undertaken solely to prepare for your approval the

financial statements

Monitor Exploration Limited

and state those matters that we have agreed to state to the Board of Directors of

Monitor Exploration Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Monitor Exploration Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Monitor Exploration Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Monitor Exploration Limited

. You consider that

Monitor Exploration Limited

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Monitor Exploration Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cornwell & Cornwell

Chartered Certified Accountants

194 Stanley Road

Teddington

TW11 8UE

United Kingdom

Date:

28 October 2025

Monitor Exploration Limited

Statement of Financial Position

31 January 2025

		2025		2024
	Note	£		£
Fixed assets
Intangible assets	5	669,563		421,269
Investments	6	328,375		272
		997,938		421,541
Current assets
Debtors	7	1,480		454,842
Cash at bank and in hand		14,097		27,348
		15,577		482,190
Creditors: amounts falling due within one year	8	(201,080	)	(823,454	)
Net current liabilities		(185,503	)	(341,264	)
Total assets less current liabilities		812,435		80,277
Capital and reserves
Called up share capital		20,360		17,500
Share premium		943,596		305,000
Profit and loss account		(151,521	)	(242,223	)
Shareholders funds		812,435		80,277

For the year ending

31 January 2025

, 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 financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

28 October 2025

, and are signed on behalf of the board by:



A Shrager	J Bedford
Director	Director

Company registration number:

11168753

Monitor Exploration Limited

Notes to the Financial Statements

Year ended

31 January 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

194 Stanley Road

Teddington

TW11 8UE

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

2.00

5 Intangible assets

	Other intangible assets
	£
Cost
At 1 February 2024	421,269
Additions	248,294
At 31 January 2025	669,563
Amortisation
At 1 February 2024 and 31 January 2025	-
Carrying amount
At 31 January 2025	669,563
At 31 January 2024	421,269

6 Investments

	Shares in group undertakings and participating interests		Loans to group undertakings and participating interests	Other investments	Total
	£		£	£	£
Cost
At 1 February 2024	216		56	-	272
Additions	336,000		-	19,126	355,126
Disposals	(27,023	)	-	-	(27,023	)
At 31 January 2025	309,193		56	19,126	328,375
Impairment
At 1 February 2024 and 31 January 2025	-		-	-	-
Carrying amount
At 31 January 2025	309,193		56	19,126	328,375
At 31 January 2024	216		56	-	272

7 Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	-	453,342
Other debtors	1,480	1,500
	1,480	454,842

8 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	22,715	3,613
Other creditors	178,365	819,841
	201,080	823,454