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Registered number: 00591246
Monmouth Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Dawes Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 00591246
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 883,017 883,017
883,017 883,017
CURRENT ASSETS
Debtors 5 3,063 3,698
Cash at bank and in hand 59,217 28,645
62,280 32,343
Creditors: Amounts Falling Due Within One Year 6 (21,695 ) (8,257 )
NET CURRENT ASSETS (LIABILITIES) 40,585 24,086
TOTAL ASSETS LESS CURRENT LIABILITIES 923,602 907,103
NET ASSETS 923,602 907,103
CAPITAL AND RESERVES
Called up share capital 7 5,334 5,334
Revaluation reserve 8 243,300 243,300
Capital redemption reserve 2,666 2,666
Profit and Loss Account 672,302 655,803
SHAREHOLDERS' FUNDS 923,602 907,103
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For the year ending 31 March 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 Iain Mactaggart
Director
17/12/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Monmouth Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 00591246 . The registered office is 58 Fore Street, Kingskerswell, Newton Abbot, TQ12 5JB.
2. Accounting Policies
2.1. 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.
2.2. Turnover
Rents due are credited on the accruals basis.
2.3. Tangible Fixed Assets and Depreciation
No depreciation has been provided in respect of the freehold property, which is held for investment.
Freehold Nil
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
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4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2024 883,017
As at 31 March 2025 883,017
Net Book Value
As at 31 March 2025 883,017
As at 1 April 2024 883,017
The freehold investment property was valued by the directors in March 2025 at £883,017 on the basis of an independent surveyor's opinion of the value of the property on the open market. It was previously valued at an open market value of £250,000 on 21st March 2002. Additions to the property since 21st March 2002 amount to £633,017. During the year expenditure on refurbishing the property amounted to £Nil (2024: £NIL). The historical cost of freehold property is £639,717.
The total of the base market value at 31st March 1980, indexation to 31st December 2017 and expenditure on
improvements to the property since 1980 exceeds the current valuation of the property. Accordingly there is no requirement for a deferred tax provision on the accumulated revaluation surplus.
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 3,063 3,698
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 16,545 2,157
Taxation and social security 5,150 6,100
21,695 8,257
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 5,334 5,334
8. Reserves
Revaluation reserve Capital Redemption Profit and Loss Account
£ £ £
As at 1 April 2024 243,300 2,666 655,803
Profit for the year and total comprehensive income - - 16,499
As at 31 March 2025 243,300 2,666 672,302
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