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Company Registration No. 03479903 (England and Wales)
Mount Wise Flats Limited Unaudited accounts for the year ended 31 December 2023
Mount Wise Flats Limited Unaudited accounts Contents
Page
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Mount Wise Flats Limited Company Information for the year ended 31 December 2023
Directors
Richard Nigel Whitehouse Benjamin Richard Stanley Whitehouse
Secretary
Judith Whitehouse
Company Number
03479903 (England and Wales)
Registered Office
2 King Mark House Stret Constantine Newquay Cornwall TR7 1GF United Kingdom
Accountants
Chynance Accountancy Services Ltd 2 King Mark House Stret Constantine Newquay Cornwall TR7 1GF
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Mount Wise Flats Limited Accountants' report
Accountants' report to the board of directors of Mount Wise Flats Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mount Wise Flats Limited for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Mount Wise Flats Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Mount Wise Flats Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mount Wise Flats Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Mount Wise Flats 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 profit of Mount Wise Flats Limited. You consider that Mount Wise Flats Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Mount Wise Flats Limited. For this reason, we have not verified 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.
Chynance Accountancy Services Ltd 2 King Mark House Stret Constantine Newquay Cornwall TR7 1GF 29 February 2024
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Mount Wise Flats Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
265,176 
265,235 
Current assets
Debtors
839 
683 
Cash at bank and in hand
6,246 
10,624 
7,085 
11,307 
Creditors: amounts falling due within one year
(2,284)
(2,690)
Net current assets
4,801 
8,617 
Net assets
269,977 
273,852 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
208,992 
208,992 
Profit and loss account
60,983 
64,858 
Shareholders' funds
269,977 
273,852 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by
Richard Nigel Whitehouse Director Company Registration No. 03479903
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Mount Wise Flats Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Mount Wise Flats Limited is a private company, limited by shares, registered in England and Wales, registration number 03479903. The registered office is 2 King Mark House, Stret Constantine, Newquay, Cornwall, TR7 1GF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Nil
Plant & machinery
25% reducing balance
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
265,000 
1,918 
266,918 
At 31 December 2023
265,000 
1,918 
266,918 
Depreciation
At 1 January 2023
- 
1,683 
1,683 
Charge for the year
- 
59 
59 
At 31 December 2023
- 
1,742 
1,742 
Net book value
At 31 December 2023
265,000 
176 
265,176 
At 31 December 2022
265,000 
235 
265,235 
Land & Buildings was valued by a professional surveyor in December 2017. An increase in value of £208,992 has been reserved to reflect the open market value of the property.
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Mount Wise Flats Limited Notes to the Accounts for the year ended 31 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
125 
125 
Accrued income and prepayments
714 
558 
839 
683 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
1,511 
1,606 
Other creditors
199 
586 
Accruals
574 
498 
2,284 
2,690 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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