Registered number
12653674
Green Mount Property Limited
Unaudited Filleted Financial Statements
For the Year Ended
29 February 2024
Green Mount Property Limited
Registered number: 12653674
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 70,000 59,969
Current assets
Stocks 26,539 26,539
Debtors 4 998 968
Cash at bank and in hand 41,604 38,497
69,141 66,004
Creditors: amounts falling due within one year 5 (11,726) (12,280)
Net current assets 57,415 53,724
Total assets less current liabilities 127,415 113,693
Creditors: amounts falling due after more than one year 6 (111,700) (111,700)
Deferred tax (1,906) -
Net assets 13,809 1,993
Capital and reserves
Called up share capital 120 120
Revaluation reserve 7 8,125 -
Profit and loss account 5,564 1,873
Shareholders' funds 13,809 1,993
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A.P. Robinson
Director
Approved by the board on 26 November 2024
Green Mount Property Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The directors believe the company is experiencing healthy levels of income and profitability, has ongoing support from it's other creditor (see notes 5 & 6) and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Investment Properties
Investment properties are measured at fair value at each reporting date with changes in fair value to be recognised in the revaluation reserve.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company (including directors) during the year 2 3
3 Tangible fixed assets
Investment Properties
£
Cost
At 1 March 2023 59,969
Surplus on revaluation 10,031
Disposals -
At 29 February 2024 70,000
Depreciation
At 29 February 2024 -
Net book value
At 29 February 2024 70,000
At 28 February 2023 59,969
The investment property is included at the directors' opinion of it's open market value. They did not have a professional valuation carried out this year. The historical cost of the property is £59,969.
4 Debtors 2024 2023
£ £
Prepayments & accrued income 998 968
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 10,098 10,318
Taxation and social security costs 860 474
Accruals 768 1,488
11,726 12,280
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 111,700 111,700
7 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 10,031 -
Deferred taxation arising on the revaluation of -
land and buildings (1,906)
At 29 February 2024 8,125 -
8 Other information
Green Mount Property Limited is a private company limited by shares and incorporated in England. Its registered office is: Green Mount, Cinderhills Road, Holmfirth, England, HD9 1EE.
HD9 1EE
The financial statements are presented in Sterling, which is the functional currency of the company.
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