Registration number: 02629053 Monkton Wyld Trading Company Limited Annual Report and Unaudited Financial Statements for the Year Ended 31 March 2024 WESTCOTTS CHARTERED ACCOVt4TANT5 & BUSINe5S ADVISERS
MONKTON WYLD TRADING COMPANY LIMITED coKrENTS Company Information Directors, Report Accountants, Report Statement of Comprehensive Income Statement of Financial Position Statement of Changes in Equity Notes to the Unaudited Financial Statements 7t09 Detailed Statement of Comprehensive Income 10
MONKTON WYLD TRADING COMPANY LIMITED COMPANY INFORMATION Directors Richard Lovela Johnstone Janice Marg8ret Freebom Juliet Anne Lovelace Johnstone Laura Julie Guest Steven Slavin Company secretsry Richard Lovelace Johnstone Registered office Monkton Wyld Court Monkton Wyld Bridport DT6 6DQ Accountants Westcotts Chartered Accountants Timberly South Street Axminster Devon EX13 SAD Page 1
MONKTON WYLD TRADING COMPANY LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The directors present their report and the financial statements for the year ended 31 March 2024. Directors of the company The directors who held office during the year were as follows.. Richard Lovelace Johnstone - Company secretary and director (appointed 1 March 2024) Janice Margaret Freeborn Juliet Anne Lovelace Johnstone Laura Julie Guest Steven Slavin Jyoti Fernandes (ceased 5 May 2023) Alexa De Ferranti (ceased 15 May 2023) Small companies provision ststement This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved and authorised by the Board on .................... and signed on its behalf by.. Richard Lovelace Johnstone Company secretary and director Page 2
CHARTERED ACCOUNTANTS, REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF MONKTON WYLD TRADING COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Monkton Wyld Trading Company Limited for the year ended 31 March 2024 as set out on pages 4 to 9 from the company's accounting records and from infomiation and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http:Ilww.icaew.comlregulation. This report is made solely to the Board of Directors of Monkton Wyld Trading Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Monkton Wyld Trading Company Limited and state those matters that we have agreed to state to the Board of Directors of Monkton Wyld Trading Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monkton Wyld Trading Company Limited and tts Board of Directors as a body for our work or for this report. It is your duty to ensure that Monkton Wyld Trading Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Monkton Wyld Trading Company Limited. You consider that Monkton Wyld Trading Company Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an 8udit or a review of the accounts of Monkton Wyld Trading Company Limited. For this reason, we have not verifi'ed the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Westcotts Chartered Accountants Timberly South Street Axminster Devon EX13 SAD Date:............................. Page 3
MONKTON WYLD TRADING COMPANY LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note Turnover 43,947 62,052 Gross profit 43,947 143,947) 62.062 Administrative expenses (62,052) Operating profiU(Ios5) ProfiU(loss} before tax Prof{loss) for the financial year The above results were derived from continuing operations. The company has no recognised gains or losses for the year other than the results above. The notes on pages 7 to 9 fomi an integral part of these financial statements. Page 4
MONKTON WYLD TRADING COMPANY LIMITED (REGISTRATION NUMBER: 02629053) STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Note Current assets Cash at bank and in hand 5,812 16,413 Creditors.. Amounts falling due within one year Net assets (5,760) 52 (16,361) 52 Capital and reserves Called up share capital Shareholders. funds 52 52 52 52 For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small comp8nies. Directors, responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476- and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved and authorised by the Board on . and signed on its behalf by.. Richard Lovelace Johnstone Company secretary and director The notes on pages 7 to 9 form an integral part of these financial statements. Page 5
MONKTON WYLD TRADING COMPANY LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024 Share capltal Total At 1 April 2023 At 31 March 2024 52 52 52 Share capital 52 Total At 1 April 2022 52 52 At 31 March 2023 62 52 The notes on pages 7 to 9 fom an integral part of these financial statements. Page 6
MONKTON WYLD TRADING COMPANY LIMITED NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 General information The company is a private company limited by share capital, incorporated in England & Wales. The address of its registered office is: Monkton Wyld Court Monkton Wyld Bridport DT6 6DQ Principal activity The principal 8Ctivity of the company is the provision of guest accommodation. 2 Accounting polici8s Summary of signlflcant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ststement of compliance These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, and the Companies Act 2006 (as applicable to companies subject to the small companies, regime). Basis of preparation These financial statements have been prepared using the historic81 cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling which is the functional currency ofthe entity. Going concern The financial ststements have been prepared on a going concem basis. Page 7
MONKTON WYLD TRADING COMPANY LIMITED NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 2 Accounting policies {continued Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimate5 and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Revenue recognition Tumover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured., it is probable that future economic benefits will flow to the entity-, and specific criteria have been met for each of the companls activities. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities Flnancial instruments Recognition and measurement A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 3 Staff numbers The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0) Page 8
MONKTON WYLD TRADING COMPANY LIMITED NOTES TO THE UNAUDITED FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 4 Creditors Creditors: amounts falling due withln one year 2024 2023 Due within one year Accruals and deferred income Other creditors 500 5,260 320 16.041 5,760 16,361 5 Reserves Profrt and loss account.. This reserve records retained earnings and accumulated losses. Page 9
MONKTON WYLD TRADING COMPANY LIMITED DETAILED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Turnover Sale of goods, UK 43,947 43.947 62.052 62,052 Gross profit {%) 100% Administrative expenses Rent Charitable donations Accountancy fees Management fees 1,800 10,322 500 31,325 43,947 1.800 13.393 320 46,539 62.052 Operatlng proflU{loss) ProfiV(loss) before tax This page does not fomi part of the statutory financial statements. Page 10