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REGISTERED NUMBER: 04471784 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MOUNTBROOK PROPERTIES LIMITED

MOUNTBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 04471784)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

MOUNTBROOK PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: M Storfer
J S Storfer





SECRETARY: J S Storfer





REGISTERED OFFICE: 1st Floor Japonica House
Spring Villa Park
Edgware
Middlesex
HA8 7XT





REGISTERED NUMBER: 04471784 (England and Wales)





ACCOUNTANTS: Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ

MOUNTBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 04471784)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,710 23,387
Investment property 5 5,980,000 5,980,000
5,998,710 6,003,387

CURRENT ASSETS
Debtors 1,731,322 1,504,535
Cash at bank 59,771 125,958
1,791,093 1,630,493
CREDITORS
Amounts falling due within one year 4,386,717 4,352,640
NET CURRENT LIABILITIES (2,595,624 ) (2,722,147 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,403,086

3,281,240

PROVISIONS FOR LIABILITIES 80,631 80,631
NET ASSETS 3,322,455 3,200,609

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Fair value reserve 7 1,914,229 1,914,229
Retained earnings 1,407,126 1,285,280
SHAREHOLDERS' FUNDS 3,322,455 3,200,609

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:




M Storfer - Director


MOUNTBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 04471784)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Mountbrook Properties 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.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of gross rents and services receivable, net of discounts, rebates and value added taxes.

Tangible fixed assets
Fixtures and fittings are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Depreciation is recognised to write off the cost of assets less their residual values over their useful lives, using the reducing balance methods.

Fixtures & fittings 20% reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement.

Investment property
Investment property is initially measured at cost on acquisition and subsequently at fair value as at each
accounts date. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold and charged to the profit and loss account.

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.

MOUNTBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 04471784)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 77,517
DEPRECIATION
At 1 April 2023 54,130
Charge for year 4,677
At 31 March 2024 58,807
NET BOOK VALUE
At 31 March 2024 18,710
At 31 March 2023 23,387

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,980,000
NET BOOK VALUE
At 31 March 2024 5,980,000
At 31 March 2023 5,980,000

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,999,663 1,886,507

Bank loans are secured by legal charges over the company's investment property.

7. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 1,914,229

MOUNTBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 04471784)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. RELATED PARTY DISCLOSURES

Mr M Storfer is a director of the following companies.
- Canarycrown Limited
- Cenator Limited
- Barnwell Properties Limited
- Canarycrown Investments Limited

Mr M Storfer is additionally a shareholder in:
- Cenator Limited
- Canarycrown Investments Limited

Mr J Storfer is a director of:
- Barnwell Properties Limited.
- Canarycrown Limited
- Canarycrown Investments Limited
- Cenator Limited

Balances at the year end were as follows:
Balance Balance
Dr/(Cr ) Dr/(Cr )
31/03/2024 31/03/2023
£    £   
Canarycrown Limited (2,189,017 ) (2,197,982 )
Barnwell Properties Ltd Nil 23,898
Cenator Limited 563,216 538,148
Canarycrown Investments Limited 1,083,283 913,283


CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MOUNTBROOK PROPERTIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mountbrook Properties Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mountbrook Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mountbrook Properties Limited and state those matters that we have agreed to state to the Board of Directors of Mountbrook Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mountbrook Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mountbrook Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mountbrook Properties Limited. You consider that Mountbrook Properties 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 financial statements of Mountbrook Properties 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 financial statements.






Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ


26 November 2024