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REGISTERED NUMBER: 13291507 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Mountbureau Property Limited

Mountbureau Property Limited (Registered number: 13291507)






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


Mountbureau Property Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Miss J Harnett
M Gholamzadeh





REGISTERED OFFICE: 19 The Square
Bognor Regis
West Sussex
PO22 0HB





REGISTERED NUMBER: 13291507 (England and Wales)





ACCOUNTANTS: AM-PM Accounting Solutions Limited
Building 6000
Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA

Mountbureau Property Limited (Registered number: 13291507)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,095,000 1,085,000

CURRENT ASSETS
Debtors 5 155,976 174
Cash at bank 2,444 612
158,420 786
CREDITORS
Amounts falling due within one year 6 562,204 550,550
NET CURRENT LIABILITIES (403,784 ) (549,764 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

691,216

535,236

CREDITORS
Amounts falling due after more than one year 7 (670,106 ) (524,445 )

PROVISIONS FOR LIABILITIES (7,426 ) (5,526 )
NET ASSETS 13,684 5,265

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 31,658 23,558
Retained earnings (18,074 ) (18,393 )
13,684 5,265

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.

Mountbureau Property Limited (Registered number: 13291507)

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 31 January 2025 and were signed on its behalf by:





Miss J Harnett - Director


Mountbureau Property Limited (Registered number: 13291507)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mountbureau 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided

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.

3. EMPLOYEES AND DIRECTORS

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

Mountbureau Property Limited (Registered number: 13291507)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 April 2023 1,085,000
Revaluations 10,000
At 31 March 2024 1,095,000
NET BOOK VALUE
At 31 March 2024 1,095,000
At 31 March 2023 1,085,000

Cost or valuation at 31 March 2024 is represented by:

Land and
buildings
£   
Valuation in 2023 29,084
Valuation in 2024 10,000
Cost 1,055,916
1,095,000

If freehold property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 1,055,916 1,055,916

Value of land in freehold land and buildings 1,055,916 -

Freehold property was valued on an open market basis on 31 March 2024 by zoopla.co.uk .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings 155,976 -
Other debtors - 174
155,976 174

Mountbureau Property Limited (Registered number: 13291507)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 85 1,070
Amounts owed to group undertakings 72,353 57,476
Other creditors 489,766 492,004
562,204 550,550

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 670,106 524,445

8. SECURED DEBTS

Three charges have been registered at Companies House The persons entitled are:-

Onesavings Bank PLC for the property at 5 Henry Street, Bognor Regis. PO21 1AR

The Mortgage Lender Limited for the property at 22 Gospond Road, Barnham, Bognor Regis.

Onesavings Bank PLC for the property at 1 The Mews, Merchant Street. Bognor Regis. PO21 1XL

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 23,558
Revaluation reserve 8,100

At 31 March 2024 31,658

10. RELATED PARTY DISCLOSURES

Included within other creditors is a loan balance totalling £72,353 (2023 £57,476) owed to Mountbureau Limited, a company owned 100% by the directors. This is interest free and payable on demand.

Included within other debtors is a loan balance totalling £155,976 owed to Mehdig Limited intercompany, a company owned 100% by the directors. This is interest free and payable on demand.

Included within other creditors is a loan balance totalling £485,664 (2023 £490,985) owed to Miss J Harnett and Mr M Gholamzadeh who are both directors. This is interest free and payable on demand.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.