04267792falsethe ownership of the properties at The Mount House and collection of ground and other rents therefrom2023-06-012024-05-31http://www.companieshouse.gov.uk/2023-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-05-31http://www.companieshouse.gov.uk/cd:Director12023-06-012024-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-05-31http://www.companieshouse.gov.uk/cd:Director22023-06-012024-05-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-06-012024-05-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-06-012024-05-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-06-012024-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-05-31http://www.companieshouse.gov.uk/2022-06-012023-05-31http://www.companieshouse.gov.uk/2023-06-012024-05-31http://www.companieshouse.gov.uk/2023-05-31http://www.companieshouse.gov.uk/cd:FRS1022023-06-012024-05-31http://www.companieshouse.gov.uk/2024-05-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-06-012024-05-31http://www.companieshouse.gov.uk/pt:LandBuildings2023-05-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-06-012024-05-31http://www.companieshouse.gov.uk/pt:LandBuildings2024-05-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 04267792
The Mount Flats (Freeholders) Limited
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
Prepared By:
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
The Mount Flats (Freeholders) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
DIRECTORS
Ms F Choglay
Mrs SY Wootton
REGISTERED OFFICE
8 The Mount House
Sudbury Hill
Harrow on the Hill
Middlesex
HA1 3NH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04267792
.
ACCOUNTANTS
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
The Mount Flats (Freeholders) Limited
ACCOUNTS
FOR THEYEARENDED31 MAY 2024
CONTENTS
Page
Directors' Report3
Accountants' Report4
Statement Of Comprehensive Income5
Balance Sheet6
Notes To The Accounts7
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
The Mount Flats (Freeholders) Limited
DIRECTORS' REPORT
FOR THEYEARENDED31 May 2024
The directors present their report and accounts for theyearended31 May 2024
DIRECTORS
The directors who served during theyearwere as follows:
Ms F Choglay
Mrs SY Wootton
STATEMENT OF DIRECTORS RESPONSIBILITIES
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements the directors are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.
This report was approved by the board on16 August 2024
Ms F Choglay
Director
The Mount Flats (Freeholders) Limited
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS
OF THE MOUNT FLATS (FREEHOLDERS) LIMITED, FOR THE YEAR ENDED 31 MAY 2024
In order to assist you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Mount Flats (Freeholders) Limited for the year ended 31 May 2024 as set out on pages 5 to (1) from the company's accounting records and from information and explanations you have given us.
As a practising member of the Institute of Chartered Accountants in England & Wales, we are subject to its ethical and other professional requirements which are detailed on their website.
This report is made solely to the Board of Directors of The Mount Flats (Freeholders) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Mount Flats (Freeholders) Limited and state those matters that we have agreed to state to the Board of Directors of The Mount Flats (Freeholders) Limited, as a body, in this report, in accordance with the requirements of the Institute of Chartered Accountants in England & Wales as detailed on their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Mount Flats (Freeholders) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Mount Flats (Freeholders) 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 profitability of The Mount Flats (Freeholders) Limited. You consider that The Mount Flats (Freeholders) 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 The Mount Flats (Freeholders) 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.
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
16 August 2024
The Mount Flats (Freeholders) Limited
STATEMENT OF COMPREHENSIVE INCOME
FOR THEYEARENDED31 May 2024
Notes20242023
££
TURNOVER21,220970
GROSS PROFIT1,220970
Administrative expenses(1,047)(987)
OPERATING PROFIT / (LOSS)173(17)
PROFIT / (LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION3173(17)
Tax on profit on ordinary activities5(121)(85)
PROFIT / (LOSS) ON ORDINARY ACTIVITIES AFTER TAXATION52(102)
The Mount Flats (Freeholders) Limited
BALANCE SHEET AT31 May 2024
Registered number: 04267792ragraph1
20242023
Notes££
FIXED ASSETS
Tangible assets635,97236,436
CURRENT ASSETS
Debtors718,19817,586
18,19817,586
CREDITORS: Amounts falling due within one year8751655
NET CURRENT ASSETS17,44716,931
TOTAL ASSETS LESS CURRENT LIABILITIES53,41953,367
CREDITORS: Amounts falling due after more than one year943,56143,561
NET ASSETS9,8589,806
CAPITAL AND RESERVES
Called up share capital101414
Profit and loss account119,8449,792
SHAREHOLDERS' FUNDS9,8589,806
For the year ending 31 May 2024 the company was entitled to exemption 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.
Approved by the board on16 August 2024and signed on their behalf by
.............................
Ms F Choglay
Director
The Mount Flats (Freeholders) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsstraight line 1%
1c. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
1d. Turnover
Turnover represents the value of ground rents and garage and parking rents collected from leaseholders.
The Mount Flats (Freeholders) Limited
2. TURNOVER
The turnover and pre-tax result is attributable to the ownership of the properties at The Mount House and collection of ground and other rents therefrom.
20242023
££
Ground rents500250
Garage and parking rents720720
1,220970
3. OPERATING PROFIT
20242023
££
Operating Profit is stated after charging:
Depreciation464464
464464
4. EMPLOYEES
20242023
No.No.
Average number of employees22
5. TAX ON ORDINARY ACTIVITIES
20242023
££
Corporation tax12185
12185
The Mount Flats (Freeholders) Limited
6. TANGIBLE FIXED ASSETS
Land And
BuildingsTotal
££
Cost
At 1 June 202346,45146,451
At 31 May 202446,45146,451
Depreciation
At 1 June 202310,01510,015
For the year464464
At 31 May 202410,47910,479
Net Book Amounts
At 31 May 202435,97235,972
At 31 May 202336,43636,436
7. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors500-
Amounts due from related companies17,69817,586
18,19817,586
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax12185
Accruals570510
Deferred income6060
751655
The Mount Flats (Freeholders) Limited
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Shareholder loans43,56143,561
43,56143,561
10. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
14 Ordinary shares of £1 each1414
1414
11. PROFIT AND LOSS RESERVE 20242023
££
Opening balance9,7929,894
Profit / (Loss) for the year52(102)
9,8449,792
12. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS 20242023
££
Opening shareholders' funds9,8069,908
Profit / (Loss) for the year52(102)
Closing shareholders' funds9,8589,806
13. RELATED PARTY TRANSACTIONS
The directors of the company are also directors of The Mount Flats (Harrow) Limited, the company that manages and maintains the properties of The Mount House.
Other creditors due after one year of £43,561 (2023: £43,561) represents amounts loaned to the company by participating shareholders in order to finance the acquisition of the freehold.
Other debtors due within one year of £17,698 (2023: £17,586) represents amounts due from related company The Mount Flats (Harrow) Limited.
The Mount Flats (Freeholders) Limited
14. CONTROLLING PARTY
The company is controlled by its 14 individual shareholders.