|
Registered number: 12096526
MONSTER GROUP PROPERTY LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
|
|
MONSTER GROUP PROPERTY LIMITED
REGISTERED NUMBER: 12096526
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Page 1
|
|
MONSTER GROUP PROPERTY LIMITED
REGISTERED NUMBER: 12096526
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The notes on pages 4 to 8 form part of these financial statements.
Page 2
|
|
MONSTER GROUP PROPERTY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
Transfer between profit and loss account and other reserves
|
|
|
|
|
Other comprehensive income for the year
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income for the year
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 4 to 8 form part of these financial statements.
|
Page 3
|
|
MONSTER GROUP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The principal activity of the company is residential letting. The company is a private limited company, which is incorporated in England and Wales (no 12096526). The address of the registered office is Monster House, Alan Farnaby Way, The Industrial Estate, Sheriff Hutton, York, North Yorkshire, United Kingdom, YO60 6PG.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The accounts have been prepared on a going concern basis as the company's ultimate parent company has indicated that it will continue to provide sufficient funds to enable the group to continue to meet its liabilities as they fall due for at least 12 months from the date of approval.
Turnover represents the value of rental income received or receivable.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
|
|
|
Current and deferred taxation
|
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 4
|
|
MONSTER GROUP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
|
|
Judgments in applying accounting policies and key sources of estimation uncertainty
|
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Page 5
|
|
MONSTER GROUP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
|
|
|
Freehold investment property
|
|
|
|
|
|
|
|
|
|
|
|
|
The directors have reviewed the valuation of the investment property as at 31 March 2025 on the basis of market activity and values for similar properties in the same area and where applicable have adjusted the net book value to fair value. The cost of the investment property is £2,828,418 (2024: £2,827,618).
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
Amounts owed to entities under common control
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 6
|
|
MONSTER GROUP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
Creditors: Amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank loans and overdrafts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Included within creditors are two loans due in more than 5 years. The bank borrowing is secured by way of charges on the investment property owned by the company.
Loan 1 is repayable in full in 2041 with interest payable at a fixed rate of 3.84% until 2027 before reverting to a variable rate linked to base rate. At the year end the balance repayable on this loan was £218,100 (2024: £218,100).
Loan 2 is repayable in full in 2045 with interest will be charged at a fixed rate of 3.19% until 2027 before reverting to a variable rate linked to base rate. At the year end the balance repayable on this loan was £222,000 (2024: £222,000).
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
100 (2024 - 100) Ordinary Shares shares of £1.00 each
|
|
|
Other reserves
This reserve records fair value movements on investment property, net of any deferred tax.
Profit and loss account
This reserve records retained earnings and accumulated losses.
|
|
Related party transactions
|
|
|
During the year the company repaid £55,339 to Monster Group UK Limited, a company which until 3 May 2024 was in the same group and which after 3 May 2024 was owned by the directors of the company.The balance owed to Monster Group UK Limited at the year end was £2,346,997 (2024 - £2,402,336).
|
The ultimate controlling company changed during the year. From 3 May 2024 onwards, MG Property Holdco Limited (Company No. 15530324), incorporated in England and Wales, became the ultimate controlling party. On 3 May 2024, the ultimate controlling party was MG Holdco Limited (Company No. 15318461), also incorporated in England and Wales. Up to and including 2 May 2024, the ultimate controlling party was Monster Group Holdings Limited (Company No. 12094248), incorporated in England and Wales.
Page 7
|
|
MONSTER GROUP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.
The audit report was signed on 19 December 2025 by James Hunt BA(Hons) MA FCA CTA (Senior Statutory Auditor) on behalf of AAB Audit & Accountancy Limited.
Page 8
|