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REGISTERED NUMBER: 03349994 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MOUNTLEY ESTATES LTD

MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MOUNTLEY ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: H Schneck





SECRETARY: Mrs S Schneck





REGISTERED OFFICE: 69 Watermint Quay
Craven Walk
Stamford Hill
London
N16 6DN





REGISTERED NUMBER: 03349994 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,948 2,291
Investment property 5 4,091,889 4,091,889
4,093,837 4,094,180

CURRENT ASSETS
Debtors 6 1,307,469 1,334,732
Investments 7 29,380 29,380
Cash at bank 16,910 7,973
1,353,759 1,372,085
CREDITORS
Amounts falling due within one year 8 (314,482 ) (345,523 )
NET CURRENT ASSETS 1,039,277 1,026,562
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,133,114

5,120,742

CREDITORS
Amounts falling due after more than one
year

9

(836,376

)

(872,898

)

PROVISIONS FOR LIABILITIES (490,738 ) (490,738 )
NET ASSETS 3,806,000 3,757,106

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 2,253,538 2,253,538
Retained earnings 12 1,552,460 1,503,566
SHAREHOLDERS' FUNDS 3,806,000 3,757,106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 director and authorised for issue on 21 January 2025 and were signed by:





H Schneck - Director


MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Mountley Estates Ltd 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 39,192 957 40,149
DEPRECIATION
At 1 May 2023 36,901 957 37,858
Charge for year 343 - 343
At 30 April 2024 37,244 957 38,201
NET BOOK VALUE
At 30 April 2024 1,948 - 1,948
At 30 April 2023 2,291 - 2,291

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 5,112,606
DEPRECIATION
At 1 May 2023
and 30 April 2024 1,020,717
NET BOOK VALUE
At 30 April 2024 4,091,889
At 30 April 2023 4,091,889

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2017 2,192,061
Valuation in 2019 (199,488 )
Valuation in 2020 490,000
Valuation in 2023 (229,035 )
Cost 2,859,068
5,112,606

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 19,217 40,191
Amounts owed by group undertakings 632,693 640,438
Other debtors 655,559 654,103
1,307,469 1,334,732

MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Listed investments 29,380 29,380

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 11,104 26,079
Taxation and social security 27,255 78,811
Other creditors 276,123 240,633
314,482 345,523

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 836,376 872,898

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan 197,925 197,925

Repayable by instalments
Bank loans more 5 yr by instal 638,451 674,973

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 836,376 872,898

The mortgage is secured by a first charge over the company's investment properties and bear interest at variable rates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2 Ordinary £1 2 2

MOUNTLEY ESTATES LTD (REGISTERED NUMBER: 03349994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 1,503,566 2,253,538 3,757,104
Profit for the year 90,894 90,894
Dividends (42,000 ) (42,000 )
At 30 April 2024 1,552,460 2,253,538 3,805,998

13. ULTIMATE CONTROLLING PARTY

Mountley Group Limited