Company Registration No. 10517274 (England and Wales)
Monte Forte Reigate Limited
Unaudited accounts
for the year ended 31 March 2020
Monte Forte Reigate Limited
Company Information
for the year ended 31 March 2020
Directors
Gianluca Malavasi
Daniel Whebell
Paolo Malavasi
Company Number
10517274 (England and Wales)
Registered Office
Flat 12 Evans Granary Apartments
38 Stoney Street
London
SE1 9LB
Accountants
Clark's Accountancy
119 Albury Road
Merstham
Surrey
RH1 3LW
Monte Forte Reigate Limited
Statement of financial position
as at 31 March 2020
Tangible assets
96,349
16,022
Cash at bank and in hand
32,526
3,965
Creditors: amounts falling due within one year
(92,742)
(27,038)
Net current liabilities
(49,537)
(5,406)
Total assets less current liabilities
46,812
10,616
Creditors: amounts falling due after more than one year
(5,405)
(12,954)
Net assets/(liabilities)
41,407
(2,338)
Called up share capital
101
100
Profit and loss account
(18,193)
(2,438)
Shareholders' funds
41,407
(2,338)
For the year ending 31 March 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2020 and were signed on its behalf by
Gianluca Malavasi
Director
Company Registration No. 10517274
Monte Forte Reigate Limited
Notes to the Accounts
for the year ended 31 March 2020
Monte Forte Reigate Limited is a private company, limited by shares, registered in England and Wales, registration number 10517274. The registered office is Flat 12 Evans Granary Apartments, 38 Stoney Street, London, SE1 9LB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value of goods sold to customers, exclusive of VAT.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line basis over 10 years
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Monte Forte Reigate Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2019
14,780
7,100
273
22,153
Additions
89,832
-
6,872
96,704
Disposals
-
(7,100)
(273)
(7,373)
At 31 March 2020
104,612
-
6,872
111,484
At 1 April 2019
2,956
3,106
69
6,131
Charge for the year
10,461
-
1,718
12,179
On disposals
-
(3,106)
(69)
(3,175)
At 31 March 2020
13,417
-
1,718
15,135
At 31 March 2020
91,195
-
5,154
96,349
At 31 March 2019
11,824
3,994
204
16,022
Finished goods
1,000
2,072
Accrued income and prepayments
8,167
12,250
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
-
4,854
Obligations under finance leases and hire purchase contracts
3,604
-
Trade creditors
6,141
6,762
Amounts owed to group undertakings and other participating interests
28,251
-
Taxes and social security
30,928
4,975
Other creditors
18,286
3,816
Loans from directors
5,532
6,631
Monte Forte Reigate Limited
Notes to the Accounts
for the year ended 31 March 2020
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
5,405
-
Allotted, called up and fully paid:
101 Ordinary shares of £1 each
101
100
Shares issued during the period:
1 Ordinary shares of £1 each
1
10
Transactions with related parties
On 31 March part of the intercompany loan with Monte Forte Limited was capitalised by way of 1 new ordinary share of £1 being issued for £59,500 per share.
The company's ultimate controlling party is Monte Forte Limited by virtue of their shareholding. Their registered office is Flat 12 Evans Granary Apartments, 38 Stoney Street, London, England, SE1 9LB.
12
Average number of employees
During the year the average number of employees was 0 (2019: 4).
