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Registration number: 12037453

Mountain Lions Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

Mountain Lions Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Mountain Lions Ltd

(Registration number: 12037453)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

75,519

175,419

Current assets

 

Debtors

-

687

Cash at bank and in hand

 

7,282

15,846

 

7,282

16,533

Creditors: Amounts falling due within one year

(19,024)

(23,346)

Net current liabilities

 

(11,742)

(6,813)

Total assets less current liabilities

 

63,777

168,606

Accruals and deferred income

 

(2,000)

(1,000)

Net assets

 

61,777

167,606

Capital and reserves

 

Called up share capital

5

100,000

100,000

Retained earnings

(38,223)

67,606

Shareholders' funds

 

61,777

167,606

For the financial year ending 30 June 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 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 March 2024
 

 

Mountain Lions Ltd

(Registration number: 12037453)
Abridged Balance Sheet as at 30 June 2023

.........................................
P Leoni
Director

 

Mountain Lions Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
02 Landridge Road
London
SW6 4LE

These financial statements were authorised for issue by the director on 29 March 2024.

2

Accounting policies

Summary of significant 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.

Statement of compliance

These abridged 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 abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover 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 sales/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 company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Mountain Lions Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Mountain Lions Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

Total
£

Cost or valuation

At 1 July 2022

175,419

Disposals

(99,900)

At 30 June 2023

75,519

Provision

Carrying amount

At 30 June 2023

75,519

At 30 June 2022

175,419

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Associates

Mountain Huts Srl

Ordinary

20%

20%

 

Italy

     

Alpine Lodge Srl

Ordinary

0%

20%

 

Italy

     

Associates

Mountain Huts Srl

The principal activity of Mountain Huts Srl is development of building project.

Alpine Lodge Srl

The principal activity of Alpine Lodge Srl is development of building project.

 

Mountain Lions Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100,000

100,000

100,000

100,000