Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 258,244 | 258,244 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 41,029 | 41,197 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 3,115 | 7,769 | ||
| Total assets less current liabilities | 261,359 | 266,013 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Montclair Three Limited (registered number:
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Alexander Edward Tozzi
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Montclair Three Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is 3rd Floor Hanover House, 118 Queens Road, Brighton, East Sussex, BN1 3XG, United Kingdom, .
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The fair value is determined annually by the director, on an open market value for existing use basis.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2024 |
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| As at 31 March 2025 |
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Valuation
The director has considered the valuation of the property and believes that no further adjustments are required in 2025.
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by connected companies |
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| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to connected companies |
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| Amounts owed to director |
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| Accruals |
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| 2025 | 2024 | ||
| £ | £ | ||
| Other loans (secured) |
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These amounts are repayable after more than 5 years
Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2025 | 2024 | ||
| £ | £ | ||
| Other loans (secured) |
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| 2025 | 2024 | ||
| £ | £ | ||
| Deferred tax |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
| 2025 | 2024 | ||
| £ | £ | ||
| Amount owed to director | 30,137 | 29,969 |
No interest has been charged on this balance.
Other related party transactions
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to company with directors in common | 5,377 | 659 | |
| Amounts owed by company with directors in common | 41,025 | 41,195 |