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REGISTERED NUMBER: 06503804 (England and Wales)










MOUNT STORE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MOUNT STORE LIMITED (REGISTERED NUMBER: 06503804)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOUNT STORE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D Singh
Mrs S Kaur
G S Pooni





REGISTERED OFFICE: Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB





REGISTERED NUMBER: 06503804 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

MOUNT STORE LIMITED (REGISTERED NUMBER: 06503804)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,800 48,300
Tangible assets 5 2,286 2,690
43,086 50,990

CURRENT ASSETS
Stocks 6 23,308 20,682
Cash at bank and in hand 233,140 87,392
256,448 108,074
CREDITORS
Amounts falling due within one year 7 215,622 140,182
NET CURRENT ASSETS/(LIABILITIES) 40,826 (32,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,912

18,882

PROVISIONS FOR LIABILITIES 508 561
NET ASSETS 83,404 18,321

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 83,304 18,221
SHAREHOLDERS' FUNDS 83,404 18,321

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

MOUNT STORE LIMITED (REGISTERED NUMBER: 06503804)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





D Singh - Director


MOUNT STORE LIMITED (REGISTERED NUMBER: 06503804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Mount Store 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

MOUNT STORE LIMITED (REGISTERED NUMBER: 06503804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 150,000 10,800 160,800
AMORTISATION
At 1 April 2023 112,500 - 112,500
Charge for year 7,500 - 7,500
At 31 March 2024 120,000 - 120,000
NET BOOK VALUE
At 31 March 2024 30,000 10,800 40,800
At 31 March 2023 37,500 10,800 48,300

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 10,841
DEPRECIATION
At 1 April 2023 8,151
Charge for year 404
At 31 March 2024 8,555
NET BOOK VALUE
At 31 March 2024 2,286
At 31 March 2023 2,690

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 23,308 20,682

MOUNT STORE LIMITED (REGISTERED NUMBER: 06503804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,763 3,966
Tax 41,443 9,030
Social security and other taxes 1,264 1,340
VAT 14,359 6,366
Directors' current accounts 146,223 117,630
Accrued expenses 2,570 1,850
215,622 140,182

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 18,221
Profit for the year 95,083
Dividends (30,000 )
At 31 March 2024 83,304

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors , the amount owed to Mr D Singh and Mrs S Kaur is £146,223 (2023: £117,630) . The loan is interest free with no set terms for repayment.

11. RELATED PARTY DISCLOSURES

During the year Mr D Singh and Mrs S Kaur charged the company annual rent of £7,300 (2023: £7,300) for occupying premises There was no balance outstanding at balance sheet date.

12. ULTIMATE CONTROLLING PARTY

Company is controlled by Mr D Singh and Mrs S Kaur by virtue of their joint shareholdings.