Monarch Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02804664 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

MONARCH PROPERTY SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

D G Summerfield

SECRETARIES:

Mrs H E A N Summerfield

Mrs H M Adams

REGISTERED OFFICE:

6 Claremont Buildings

Claremont Bank

Shrewsbury

Shropshire

SY1 1RJ

REGISTERED NUMBER:

02804664 (England and Wales)

ACCOUNTANTS:

D.R.E. & Co.

Chartered Accountants

6 Claremont Buildings

Claremont Bank

Shrewsbury

Shropshire

SY1 1RJ

FIXED ASSETS

Tangible assets

4

-

1

Investments

5

100

100

Investment property

6

790,483

790,483

790,583

790,584

CURRENT ASSETS

Debtors

7

705,808

643,834

Cash at bank

79,840

75,589

785,648

719,423

CREDITORS

Amounts falling due within one year

8

368,452

365,311

NET CURRENT ASSETS

417,196

354,112

TOTAL ASSETS LESS CURRENT LIABILITIES

1,207,779

1,144,696

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

109,973

109,973

Retained earnings

1,097,706

1,034,623

SHAREHOLDERS' FUNDS

1,207,779

1,144,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director on 17 December 2019 and were signed by:

D G Summerfield - Director

1.	STATUTORY INFORMATION

Monarch Property Services Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention. The accounts have been

prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised

at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of

impairment. Any impairment is recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to

another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and

subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments

Fixed asset investments are stated at cost in the financial statements.

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2018

and 31 March 2019

350

DEPRECIATION

At 1 April 2018

349

Charge for year

1

At 31 March 2019

350

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

1

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

and 31 March 2019

100

NET BOOK VALUE

At 31 March 2019

100

At 31 March 2018

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

790,483

NET BOOK VALUE

At 31 March 2019

790,483

At 31 March 2018

790,483

Fair value at 31 March 2019 is represented by:

£

Valuation in 2002

444,794

Valuation in 2004

(335,000

)

Cost

680,689

790,483

If investment property had not been revalued it would have been included at the following historical cost:

31.3.19

31.3.18

£

£

Cost

680,689

680,689

Investment property was valued on an open market basis on 31 March 2019 by the director, D G Summerfield .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

23,747

25,950

Amounts owed by group undertakings

198,076

218,092

Other debtors

483,985

399,792

705,808

643,834

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

7

6

Tax

14,798

11,717

VAT

4,255

4,203

Other creditors

326,614

326,614

Directors' current accounts

1,254

1,253

Accruals and deferred income

21,524

21,518

368,452

365,311

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Dukecourt Property Company Limited

A company in which D G Summerfield has a material interest

There are no terms as to interest or repayments in respect of the following, and the loan is repayable on demand.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

164,105

164,105

Chadlington House Property Management Services Limited

A company in which D G Summerfield has a material interest

Rent of £5,000 paid to Chadlington House Property Management Services Limited. (2018 - £5,000)

There are no terms as to interest or repayments in respect of the following, and the loan is repayable on demand.

31.3.19

31.3.18

£

£

Amount due from related party at the balance sheet date

483,985

398,985

Tuscantime Ltd

A company in which D G Summerfield has a material interest

There are no terms as to interest or repayments in respect of the following, and the loan is repayable on demand.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

17,485

17,485

Western Life Ltd

A company in which D G Summerfield has a material interest

There are no terms as to interest or repayments in respect of the following, and the loan is repayable on demand.

31.3.19

31.3.18

£

£

Amount due to related party at the balance sheet date

145,023

145,023

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

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

financial statements of Monarch Property Services Limited for the year ended 31 March 2019 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Monarch Property Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Monarch Property Services Limited and state those matters that we have agreed to state to the director of Monarch Property Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monarch Property Services Limited and its director for our work or for this report.

It is your duty to ensure that Monarch Property Services 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 Monarch Property Services Limited. You consider that Monarch Property Services 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 Monarch Property Services 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.

D.R.E. & Co.

Chartered Accountants

6 Claremont Buildings

Claremont Bank

Shrewsbury

Shropshire

SY1 1RJ

20 December 2019