MONTGOMERY CORPORATE FINANCE LIMITED - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09246745 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

MONTGOMERY CORPORATE FINANCE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

W MCALLISTER

REGISTERED OFFICE:

40 BLOOMSBURY WAY

LOWER GROUND FLOOR

LONDON

WC1A 2SE

REGISTERED NUMBER:

09246745 (England and Wales)

CURRENT ASSETS

Debtors

4

6,496,370

6,301,728

CREDITORS

Amounts falling due within one year

5

7,348,955

6,922,403

NET CURRENT LIABILITIES

(852,585

)

(620,675

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(852,585

)

(620,675

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

(852,685

)

(620,775

)

SHAREHOLDERS' FUNDS

(852,585

)

(620,675

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 and authorised for issue on 20 October 2023 and were signed by:

W MCALLISTER - Director

1.	STATUTORY INFORMATION

MONTGOMERY CORPORATE FINANCE LTD 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The Company incurred losses of £231,910 for the year ended 31 October 2022 and had net liabilities of £852,585 as at 31 October 2022. The financial statements have been prepared on a going concern basis, on the assumption of the continuing availability of financial support from the shareholder and other related companies, etc. The financial statements do not include any adjustments that would arise from a failure to obtain this financial support.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts based on delivery of service.

Debtors and creditors receivable/payable within one year

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Loan receivable

4,076,365

4,076,365

Other debtors

3,670

175,901

Prepayments and accrued income

2,416,335

2,049,462

6,496,370

6,301,728

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

87

87

Other creditors

4,679,631

4,677,300

Accruals and deferred income

2,669,237

2,245,016

7,348,955

6,922,403

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 November 2021

(620,775

)

Deficit for the year

(231,910

)

At 31 October 2022

(852,685

)