Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity24falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11230424 2023-04-01 2024-03-31 11230424 2022-03-01 2023-03-31 11230424 2024-03-31 11230424 2023-03-31 11230424 c:Director4 2023-04-01 2024-03-31 11230424 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 11230424 d:FreeholdInvestmentProperty 2024-03-31 11230424 d:FreeholdInvestmentProperty 2023-03-31 11230424 d:CurrentFinancialInstruments 2024-03-31 11230424 d:CurrentFinancialInstruments 2023-03-31 11230424 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11230424 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11230424 d:ShareCapital 2024-03-31 11230424 d:ShareCapital 2023-03-31 11230424 d:RetainedEarningsAccumulatedLosses 2024-03-31 11230424 d:RetainedEarningsAccumulatedLosses 2023-03-31 11230424 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11230424 c:OrdinaryShareClass1 2024-03-31 11230424 c:FRS102 2023-04-01 2024-03-31 11230424 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11230424 c:FullAccounts 2023-04-01 2024-03-31 11230424 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11230424 6 2023-04-01 2024-03-31 11230424 e:PoundSterling 2023-04-01 2024-03-31 11230424 d:EntityControlledByKeyManagementPersonnel1 2023-04-01 2024-03-31 11230424 d:EntityControlledByKeyManagementPersonnel1 2024-03-31 11230424 d:EntityControlledByKeyManagementPersonnel2 2023-04-01 2024-03-31 11230424 d:EntityControlledByKeyManagementPersonnel2 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11230424









MOUNTWEST UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MOUNTWEST UK LIMITED
REGISTERED NUMBER: 11230424

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

              2024
             2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
-
196

Investment property
 5 
5,830,000
2,580,000

  
5,830,000
2,580,196

Current assets
  

Debtors: amounts falling due within one year
 6 
108,945
40,851

Cash at bank and in hand
 7 
80,624
83,250

Creditors: amounts falling due within one year
 8 
(5,884,443)
(2,636,799)

Net current liabilities
  
 
 
(5,694,874)
 
 
(2,512,698)

Total assets less current liabilities
  
135,126
67,498

  

Net assets
  
135,126
67,498


Capital and reserves
  

Called up share capital 
 9 
200
200

Profit and loss account
  
134,926
67,298

  
135,126
67,498


Page 1

 
MOUNTWEST UK LIMITED
REGISTERED NUMBER: 11230424
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 December 2024.




A Lateef
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MOUNTWEST UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Mountwest UK Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 1 Commonside West, Mitcham, Surrey, CR4 4HA.
The company specialises in commercial letting services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the net current liabilities of £5,694,874 (2023 - £2,512,698) as the directors have provided an undertaking that they will continue to support the company to meet its liabilities as they fall due. As a result, the directors believe that the preparation of the financial statements on a going concern basis is appropriate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MOUNTWEST UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Investment property

Investment properties are properties held to earn rent and or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (period ended 31 March 2023 - 4).

Page 4

 
MOUNTWEST UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2023
196



At 31 March 2024

196



Impairment


Charge for the year
196



At 31 March 2024

196



Net book value



At 31 March 2024
-



At 31 March 2023
196


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
2,580,000


Additions at cost
3,250,000



At 31 March 2024
5,830,000

The 2024 valuations were made by the directors, who are not qualified property valuers, on an open market value for existing use basis.






Page 5

 
MOUNTWEST UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
64,442
-

Other debtors
44,503
40,851

108,945
40,851



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
80,624
83,250

80,624
83,250



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
57,085

Corporation tax
20,828
15,096

Other creditors
5,823,738
2,512,809

Accruals and deferred income
39,877
51,809

5,884,443
2,636,799



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1 each
200
200


Page 6

 
MOUNTWEST UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Related party transactions

Included within amounts owed to group undertakings is an amount of £Nil (2023 - £57,085) due to its wholly owned subsidiaries.
 
Included within amounts owed by group undertakings is an amount of £64,442 (2023 - £Nil) due from related undertakings.
 
Included within other creditors is an amount of £5,823,738 (2023 - £2,512,809) due to the shareholders of the company.


11.


Controlling party

The controlling parties of the company are its directors, by virtue of their shareholdings in the company.

 
Page 7