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MOUNT COOK PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MOUNT COOK PROPERTY LIMITED (REGISTERED NUMBER: 09065599)

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 COOK PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R A J Sibson
C W Adams





REGISTERED OFFICE: 57 Ashbourne Road
Derby
Derbyshire
DE22 3FS





REGISTERED NUMBER: 09065599 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

MOUNT COOK PROPERTY LIMITED (REGISTERED NUMBER: 09065599)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,775,000 3,233,234

CURRENT ASSETS
Debtors 5 4,983 678
Cash at bank 16,722 35,387
21,705 36,065
CREDITORS
Amounts falling due within one year 6 251,356 55,799
NET CURRENT LIABILITIES (229,651 ) (19,734 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,545,349 3,213,500

CREDITORS
Amounts falling due after more than one
year

7

(9,999

)

(17,999

)

PROVISIONS FOR LIABILITIES 8 (339,900 ) (7,400 )
NET ASSETS 4,195,450 3,188,101

CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Share premium 2,970,000 2,970,000
Fair value reserve 10 980,158 -
Retained earnings 215,292 188,101
SHAREHOLDERS' FUNDS 4,195,450 3,188,101

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 COOK PROPERTY LIMITED (REGISTERED NUMBER: 09065599)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





R A J Sibson - Director


MOUNT COOK PROPERTY LIMITED (REGISTERED NUMBER: 09065599)

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


1. STATUTORY INFORMATION

Mount Cook Property 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.

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" 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.

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.

Going concern
A director and a related company have confirmed that they will continue to support the company through their loan accounts, when necessary, as they have the financial means to do so. The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, therefore, the company continues to adopt the going concern policy in preparing its financial statements. Subsequent to the year end, the short-term director and related company loans were repaid and replaced by long term bank borrowings.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,233,234
Additions 234,889
Revaluations 1,306,877
At 31 March 2024 4,775,000
NET BOOK VALUE
At 31 March 2024 4,775,000
At 31 March 2023 3,233,234

MOUNT COOK PROPERTY LIMITED (REGISTERED NUMBER: 09065599)

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


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£
Cost 3,468,123
Valuation uplift in 2024 1,306,877
4,775,000

Investment property was valued on 4th March 2024 by Knight Frank.

The directors have assessed that there was no difference in the valuation of investment property between the date of the professional valuation and the reporting date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,983 678

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 6,000 -
Taxation and social security 3,563 -
Other creditors 233,793 47,799
251,356 55,799

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,999 17,999

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 339,900 7,400

Deferred
tax
£   
Balance at 1 April 2023 7,400
Provided during year 332,500
Balance at 31 March 2024 339,900

MOUNT COOK PROPERTY LIMITED (REGISTERED NUMBER: 09065599)

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


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary £1.00 30,000 30,000

10. RESERVES
Fair
value
reserve
£   
Revaluation in year 1,306,877
Deferred tax on revaluation (326,719 )

At 31 March 2024 980,158

11. RELATED PARTY DISCLOSURES

At the year end, £90,000 (2023: £Nil) was due to directors of the company. These amounts are interest-free and repayable on demand.

At the year end, £100,593 (2023: £13,949) was due to companies under common control. These amounts are interest-free and repayable on demand.