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REGISTERED NUMBER: 03397090 (England and Wales)















Financial Statements for the Year Ended 29 July 2023

for

MOUNTGOOD LIMITED

MOUNTGOOD LIMITED (Registered number: 03397090)






Contents of the Financial Statements
for the Year Ended 29 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOUNTGOOD LIMITED

Company Information
for the Year Ended 29 July 2023







DIRECTOR: R MOHINDER SINGH





SECRETARY: R MOHINDER SINGH





REGISTERED OFFICE: 26 LANCASTER COURT
BANSTEAD
Surrey
SM7 1RR





REGISTERED NUMBER: 03397090 (England and Wales)





ACCOUNTANTS: A.B.K ACCOUNTANCY SERVICES
59 ASHEN GROVE
WIMBLEDON PARK
London
SW19 8BL

MOUNTGOOD LIMITED (Registered number: 03397090)

Balance Sheet
29 July 2023

29.7.23 29.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,788,918 1,788,918
1,788,918 1,788,918

CURRENT ASSETS
Debtors 6 100 100
Cash in hand 311 108
411 208
CREDITORS
Amounts falling due within one year 7 268,985 231,788
NET CURRENT LIABILITIES (268,574 ) (231,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,520,344

1,557,338

CREDITORS
Amounts falling due after more than one
year

8

1,100,660

1,141,228
NET ASSETS 419,684 416,110

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 419,584 416,010
SHAREHOLDERS' FUNDS 419,684 416,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MOUNTGOOD LIMITED (Registered number: 03397090)

Balance Sheet - continued
29 July 2023


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 director and authorised for issue on 9 March 2024 and were signed by:





R MOHINDER SINGH - Director


MOUNTGOOD LIMITED (Registered number: 03397090)

Notes to the Financial Statements
for the Year Ended 29 July 2023

1. STATUTORY INFORMATION

MOUNTGOOD LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MOUNTGOOD LIMITED (Registered number: 03397090)

Notes to the Financial Statements - continued
for the Year Ended 29 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 30 July 2022
and 29 July 2023 2,953 4,442 7,395
DEPRECIATION
At 30 July 2022
and 29 July 2023 2,953 4,442 7,395
NET BOOK VALUE
At 29 July 2023 - - -
At 29 July 2022 - - -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 July 2022
and 29 July 2023 1,788,918
NET BOOK VALUE
At 29 July 2023 1,788,918
At 29 July 2022 1,788,918

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.7.23 29.7.22
£    £   
Other debtors 100 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.7.23 29.7.22
£    £   
Bank loans and overdrafts 2,228 800
Trade creditors - (1 )
Directors' current accounts 264,814 229,577
Accruals 1,943 1,412
268,985 231,788

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.7.23 29.7.22
£    £   
Bank loans - 1-2 years 1,074,583 1,115,151
Differed taxation 26,077 26,077
1,100,660 1,141,228