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Registered number: 03432778
Montrose Properties (Didsbury) Ltd.
Unaudited Financial Statements
For The Year Ended 30 April 2025
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03432778
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 15,108 15,108
Tangible Assets 4 56,657 71,759
71,765 86,867
CURRENT ASSETS
Debtors 5 70,231 83,548
Cash at bank and in hand 795,315 789,666
865,546 873,214
Creditors: Amounts Falling Due Within One Year 6 (846,755 ) (860,300 )
NET CURRENT ASSETS (LIABILITIES) 18,791 12,914
TOTAL ASSETS LESS CURRENT LIABILITIES 90,556 99,781
NET ASSETS 90,556 99,781
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and Loss Account 89,556 98,781
SHAREHOLDERS' FUNDS 90,556 99,781
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For the year ending 30 April 2025 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Wildblood
Director
11 August 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software. It is amortised to profit and loss account over its estimated economic life of nil years.
1.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 2% Straight line
Motor Vehicles 25% Straight line
Fixtures & Fittings 25% Straight line
1.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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1.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 13 (2024: 12)
13 12
3. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 May 2024 121,000 15,108 136,108
As at 30 April 2025 121,000 15,108 136,108
Amortisation
As at 1 May 2024 121,000 - 121,000
As at 30 April 2025 121,000 - 121,000
Net Book Value
As at 30 April 2025 - 15,108 15,108
As at 1 May 2024 - 15,108 15,108
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2024 29,201 169,632 134,487 333,320
As at 30 April 2025 29,201 169,632 134,487 333,320
...CONTINUED
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Depreciation
As at 1 May 2024 10,022 119,058 132,481 261,561
Provided during the period 584 13,554 964 15,102
As at 30 April 2025 10,606 132,612 133,445 276,663
Net Book Value
As at 30 April 2025 18,595 37,020 1,042 56,657
As at 1 May 2024 19,179 50,574 2,006 71,759
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 60,181 73,916
Prepayments and accrued income 10,050 9,632
70,231 83,548
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 1,435
Trade creditors 745,625 677,220
Corporation tax 17,739 27,539
PAYE 4,407 5,432
VAT 42,212 39,716
Other creditors 78 40,690
Pension 1,408 1,268
Accruals and deferred income 21,535 23,065
Directors' loan accounts 2,251 3,935
Amounts owed to related parties 11,500 40,000
846,755 860,300
7. General Information
Montrose Properties (Didsbury) Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 03432778 . The registered office is 20a Lapwing Lane, West Didsbury, Manchester, M20 2WS.
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