ACCOUNTS - Final Accounts

MONUMENT ASSETS LIMITED - Company Information

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Registered number: 03505626

MONUMENT ASSETS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2019

MONUMENT ASSETS LIMITED

REGISTERED NUMBER: 03505626

BALANCE SHEET

AS AT 31 JULY 2019

		2019		2018
Note		£		£

Fixed assets
Investments	5		200		200
			200		200
Current assets
Debtors: amounts falling due within one year	6	3,114,162		3,101,264
Cash at bank and in hand		2,075,942		2,082,974
		5,190,104		5,184,238
Creditors: amounts falling due within one year	7	(3,603)		(3,356)
Net current assets			5,186,501		5,180,882
Total assets less current liabilities			5,186,701		5,181,082

Net assets			5,186,701		5,181,082

Capital and reserves
Called up share capital	200	200
Profit and loss account	5,186,501	5,180,882
	5,186,701	5,181,082

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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MONUMENT ASSETS LIMITED

REGISTERED NUMBER: 03505626

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2019

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mrs S Davies

Director

Date: 25 March 2020

The notes on pages 3 to 5 form part of these financial statements.

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MONUMENT ASSETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

1.	General information

Monument Assets Limited is a private company limited by shares incorporated in England and Wales, registration number 03505626. The registered office is 25 Lombard Avenue, Bournemouth, Dorset, BH6 3LZ.

2.Accounting policies

2.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.3

Taxation

Tax is recognised in the Statement of comprehensive income, 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 balance sheet date in the countries where the Company operates and generates income.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors and loans to related parties.
Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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MONUMENT ASSETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2018 - £NIL).

4.	TANGIBLE FIXED ASSETS

		Fixtures & fittings
		£

	At 1 August 2018	17,780
	Disposals	(17,780)
	At 31 July 2019	-

	At 1 August 2018	17,780
	Disposals	(17,780)
	At 31 July 2019	-
	Net book value
	At 31 July 2019	-
	At 31 July 2018	-

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 August 2018	200
	At 31 July 2019	200

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MONUMENT ASSETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

Debtors

					2019	2018
					£	£


Amounts owed by group undertakings	2,528,983	2,528,983
Other debtors	585,179	572,281
	3,114,162	3,101,264

7.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Amounts owed to group undertakings	-	100
Corporation tax	1,274	857
Other taxation and social security	31	101
Accruals and deferred income	2,298	2,298
	3,603	3,356

8.	Related party transactions
	At the balance sheet date the company was owed £585,179 (2018 - £572,281) by Monument Estates Limited, a company in which Mrs S Davies is a director. During the year ended 31 July 2019, Monument Estates Limited was charged interest of £12,898 (2018 - £10,886).

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