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REGISTERED NUMBER: 11626183 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MOUNTAIN VIEW HOLIDAY COTTAGES LTD

MOUNTAIN VIEW HOLIDAY COTTAGES LTD (REGISTERED NUMBER: 11626183)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


MOUNTAIN VIEW HOLIDAY COTTAGES LTD (REGISTERED NUMBER: 11626183)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,217 32,105
Investment property 5 600,000 600,000
625,217 632,105

CURRENT ASSETS
Debtors 6 - 628
Cash at bank 4,156 5,162
4,156 5,790
CREDITORS
Amounts falling due within one year 7 26,834 19,861
NET CURRENT LIABILITIES (22,678 ) (14,071 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,539

618,034

CREDITORS
Amounts falling due after more than one
year

8

(276,082

)

(299,288

)

PROVISIONS FOR LIABILITIES (75,146 ) (75,146 )
NET ASSETS 251,311 243,600

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 225,438 225,438
Retained earnings 25,773 18,062
251,311 243,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MOUNTAIN VIEW HOLIDAY COTTAGES LTD (REGISTERED NUMBER: 11626183)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:




S R Jones - Director



Mrs D M Jones - Director


MOUNTAIN VIEW HOLIDAY COTTAGES LTD (REGISTERED NUMBER: 11626183)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Mountain View Holiday Cottages Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11626183

Registered office: Glaslyn
Ffordd Y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents rents received, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on reducing balance

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. There is an annual review for impairment by the directors.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


MOUNTAIN VIEW HOLIDAY COTTAGES LTD (REGISTERED NUMBER: 11626183)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 45,403
DEPRECIATION
At 1 November 2022 13,298
Charge for year 6,888
At 31 October 2023 20,186
NET BOOK VALUE
At 31 October 2023 25,217
At 31 October 2022 32,105

5. INVESTMENT PROPERTY

Investment properties were revalued in July 2021 by an independent Chartered Surveyor at their open market value of £540,000 and subsequently revalued at £600,000 by the directors at 31 October 2022.
The Directors believe that there has been no impairment in the value in the year to 31 October 2023.
The original cost of the property was £299,416


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 628

MOUNTAIN VIEW HOLIDAY COTTAGES LTD (REGISTERED NUMBER: 11626183)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,321 7,143
Other creditors 19,513 12,718
26,834 19,861

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,975 19,294
Other creditors 264,107 279,994
276,082 299,288

9. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 225,438