Montana Property Development Co. Limited - Accounts to registrar (filleted) - small 18.2
Montana Property Development Co. Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2020 |
for |
Montana Property Development Co. Limited |
Montana Property Development Co. Limited (Registered number: 02010191) |
Contents of the Financial Statements |
for the Year Ended 31 October 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Montana Property Development Co. Limited |
Company Information |
for the Year Ended 31 October 2020 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 3 Warren House |
10 - 20 Main Road |
Hockley |
Essex |
SS5 4QS |
Montana Property Development Co. Limited (Registered number: 02010191) |
Balance Sheet |
31 October 2020 |
31.10.20 | 31.10.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
Montana Property Development Co. Limited (Registered number: 02010191) |
Balance Sheet - continued |
31 October 2020 |
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 and authorised for issue on |
Montana Property Development Co. Limited (Registered number: 02010191) |
Notes to the Financial Statements |
for the Year Ended 31 October 2020 |
1. | STATUTORY INFORMATION |
Montana Property Development Co. Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is initially recognised at cost. The cost of a purchased investment property comprises it's purchase price and any directly attributable expenditure. Subsequently, investment property whose value can be measured without undue cost or effort is measured at fair value at each reporting date with changes in fair value being recognised in the income statement. |
Deferred tax is provided on these fair value changes at the rate expected to apply when the property is sold. |
Fair value is determined by the directors based on their knowledge of the properties taking into account location, condition and prevailing market values at the reporting date. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value, except in the case of service contracts where work in progress is calculated on a completion basis. |
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 or deferred taxation assets and liabilities are not discounted. |
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. |
Montana Property Development Co. Limited (Registered number: 02010191) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2019 |
Disposals | ( |
) |
At 31 October 2020 |
DEPRECIATION |
At 1 November 2019 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2020 |
NET BOOK VALUE |
At 31 October 2020 |
At 31 October 2019 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2019 |
and 31 October 2020 |
NET BOOK VALUE |
At 31 October 2020 |
At 31 October 2019 |
Montana Property Development Co. Limited (Registered number: 02010191) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2019 |
Revaluations | 321,296 |
At 31 October 2020 |
NET BOOK VALUE |
At 31 October 2020 |
At 31 October 2019 |
Leasehold investment properties held as investments have been included at their fair value. Valuations are undertaken on an annual basis by the director. |
Fair value at 31 October 2020 is represented by: |
£ |
Valuation in 2007 | 65,555 |
Valuation in 2008 | 46,394 |
Valuation in 2009 | 144,000 |
Valuation in 2010 | 100,000 |
Valuation in 2015 | 100,000 |
Valuation in 2018 | 200,000 |
Valuation in 2019 | 100,000 |
Valuation in 2020 | 321,296 |
Cost | 1,094,551 |
2,171,796 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Montana Property Development Co. Limited (Registered number: 02010191) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.20 | 31.10.19 |
value: | £ | £ |
Ordinary | £1 | 2,000 | 2,000 |
10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 November 2019 | 4,438,585 |
Profit for the year |
Fair value movements | (265,586 | ) | 265,586 | - |
At 31 October 2020 | 5,333,863 |