ACCOUNTS - Final Accounts

MONTI MARINO (PERTH) LIMITED - Company Information

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Registered number: SC327217

MONTI MARINO (PERTH) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2019

MONTI MARINO (PERTH) LIMITED

REGISTERED NUMBER: SC327217

BALANCE SHEET

AS AT 31 DECEMBER 2019

		2019		2018
Note		£		£

Fixed assets
Investments	3		100		100
			100		100
Current assets
Cash at bank and in hand	4	20		59
		20		59
Creditors: amounts falling due within one year	5	(183,778)		(182,553)
Net current liabilities			(183,758)		(182,494)
Total assets less current liabilities			(183,658)		(182,394)

Net liabilities			(183,658)		(182,394)

Capital and reserves
Called up share capital	101	101
Profit and loss account	(183,759)	(182,495)
	(183,658)	(182,394)

The director considers 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 the Companies Act 2006.

The director acknowledges his 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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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MONTI MARINO (PERTH) LIMITED

REGISTERED NUMBER: SC327217

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2019

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

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

J Sears-Corfield

Director

Date: 21 December 2020

The notes on pages 3 to 4 form part of these financial statements.

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MONTI MARINO (PERTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.	General information

Monti Marino (Perth) is a private company limited by share capital, domiciled in Scotland, registration number SC327217. The address of the registered office is The Livery, Millhaugh, Dunning PH2 0DW.

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 following principal accounting policies have been applied:

2.2

Going concern

The company recorded a loss of £1,264 (2018 - profit of £8,692) for the year ended 31 December 2019 and had net liabilities of £183,658 (2018 - £182,394) at the balance sheet date.
The company continues to meet its day to day working requirements from loans leveraged by the director and shareholder from associated business interests. The company is therefore dependent upon the support of these loan facilities in order to continue as a going concern.
The director is satisfied that he can continue to finance the operations of the business in this manner and enable the company to achieve profitability. Accordingly, the director considers it appropriate to prepare these accounts on a going concern basis.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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MONTI MARINO (PERTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

2.Accounting policies (continued)

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.	Fixed asset investments

		Investments in associates
		£
	Cost or valuation
	At 1 January 2019	100
	At 31 December 2019	100

4.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	20	59
	20	59

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

Other creditors	169,544	166,627
Accruals and deferred income	14,234	15,926
	183,778	182,553

6.	Related party transactions
	Included in other creditors is an amount of £169,139 (2018 - £166,224) due to the director, J Sears- Corfield. The loan to the company was interest free and repayment terms were not agreed as at the balance sheet date.

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