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Company registration number: 12743096
Mountain View Wealth Ltd
Unaudited filleted financial statements
31 July 2023
Mountain View Wealth Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Mountain View Wealth Ltd
Directors and other information
Director Mrs Georgina Lloyd
Company number 12743096
Registered office Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich
Suffolk
IP2 0UG
Business address Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich
Suffolk
IP2 0UG
Accountant Simon Emmerson
Deeks and King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Bankers Wise Payments Ltd
Mountain View Wealth Ltd
Accountants report to the director on the preparation of the
unaudited statutory financial statements of Mountain View Wealth Ltd
Year ended 31 July 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 July 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Simon Emmerson
Deeks and King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
20 November 2023
Mountain View Wealth Ltd
Statement of financial position
31 July 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1,967 631
_______ _______
1,967 631
Current assets
Cash at bank and in hand - 16,778
_______ _______
- 16,778
Creditors: amounts falling due
within one year 6 ( 4,277) ( 11,070)
_______ _______
Net current (liabilities)/assets ( 4,277) 5,708
_______ _______
Total assets less current liabilities ( 2,310) 6,339
_______ _______
Net (liabilities)/assets (2,310) 6,339
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 2,311) 6,338
_______ _______
Shareholder (deficit)/funds ( 2,310) 6,339
_______ _______
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
Mrs Georgina Lloyd
Director
Company registration number: 12743096
Mountain View Wealth Ltd
Statement of changes in equity
Year ended 31 July 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2021 - - -
(Loss)/profit for the year 11,338 11,338
_______ _______ _______
Total comprehensive income for the year - 11,338 11,338
Issue of shares 1 1
Dividends paid and payable ( 5,000) ( 5,000)
_______ _______ _______
Total investments by and distributions to owners 1 ( 5,000) ( 4,999)
_______ _______ _______
At 31 July 2022 and 1 August 2022 1 6,338 6,339
(Loss)/profit for the year ( 8,649) ( 8,649)
_______ _______ _______
Total comprehensive income for the year - ( 8,649) ( 8,649)
_______ _______ _______
At 31 July 2023 1 ( 2,311) ( 2,310)
_______ _______ _______
Mountain View Wealth Ltd
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 2 The Rutherford Centre, Dunlop Road, Hadleigh Road Industrial Estate, Ipswich, Suffolk, IP2 0UG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2022 770 770
Additions 1,767 1,767
_______ _______
At 31 July 2023 2,537 2,537
_______ _______
Depreciation
At 1 August 2022 139 139
Charge for the year 431 431
_______ _______
At 31 July 2023 570 570
_______ _______
Carrying amount
At 31 July 2023 1,967 1,967
_______ _______
At 31 July 2022 631 631
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax - 2,457
Other creditors 4,277 8,613
_______ _______
4,277 11,070
_______ _______
7. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mrs Georgina Lloyd ( 4,013) 14,237 ( 13,841) ( 3,617)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mrs Georgina Lloyd - 1 ( 4,014) ( 4,013)
_______ _______ _______ _______