Monde Property Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10820123 (England and Wales)

MONDE PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

4

FIXED ASSETS

Investments

4

1

1

Investment property

5

940,705

776,255

940,706

776,256

CURRENT ASSETS

Debtors

6

129,230

123,132

Cash at bank

45

895

129,275

124,027

CREDITORS

Amounts falling due within one year

7

877,685

758,734

NET CURRENT LIABILITIES

(748,410

)

(634,707

)

TOTAL ASSETS LESS CURRENT LIABILITIES

192,296

141,549

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

192,295

141,548

SHAREHOLDERS' FUNDS

192,296

141,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 30th January 2024 and were signed on its behalf by:

A D Ingram - Director

I Omant - Director

1.	STATUTORY INFORMATION

Monde Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10820123

Registered office:

Glendevon House

4 Hawthorn Park

Leeds

LS14 1PQ

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policy adopted for the recognition of turnover is when the outcome of a transaction can be estimated reliably, turnover from the letting of properties is recognised by reference to the period of rent charged at the balance sheet date.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st May 2022

and 30th April 2023

1

NET BOOK VALUE

At 30th April 2023

1

At 30th April 2022

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

J H Watson Ground Rent Investment Limited

Registered office: Glendevon House, 4 Hawthorn Park, Leeds, United Kingdom, LS14 1PQ

Nature of business: Letting and operating of own or leased real estate

%

Class of shares:

holding

Ordinary

100.00

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2022

776,255

Additions

164,450

At 30th April 2023

940,705

NET BOOK VALUE

At 30th April 2023

940,705

At 30th April 2022

776,255

The historic cost equivalent of investment properties included at fair value is £940,705 (2022: £776,255). The directors believe that the valuation of investment properties at the reporting date correctly reflects their fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

9,195

1,439

Amounts owed by group undertakings

119,640

121,447

Other debtors

395

246

129,230

123,132

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed to group undertakings

838,759

715,626

Taxation and social security

12,002

15,579

Other creditors

26,924

27,529

877,685

758,734

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1

Ordinary

1

1

1