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Registered number: 10478002









MOUNT PARK INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
MOUNT PARK INVESTMENTS LIMITED
REGISTERED NUMBER: 10478002

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
93,822
124,988

Investment property
 5 
3,368,155
2,987,110

  
3,461,977
3,112,098

Current assets
  

Debtors: amounts falling due within one year
 6 
1,768
12,878

Cash at bank and in hand
 7 
42,489
219,095

  
44,257
231,973

Creditors: amounts falling due within one year
 8 
(908,118)
(853,542)

Net current liabilities
  
 
 
(863,861)
 
 
(621,569)

Total assets less current liabilities
  
2,598,116
2,490,529

Creditors: amounts falling due after more than one year
 9 
(3,133,431)
(2,874,917)

  

Net liabilities
  
(535,315)
(384,388)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(535,415)
(384,488)

  
(535,315)
(384,388)

Page 1

 
MOUNT PARK INVESTMENTS LIMITED
REGISTERED NUMBER: 10478002
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 income and retained earnings 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 31 January 2025.

................................................
M Buhler
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Mount Park Investments Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, Herts WD17 1HP.
The company's principal activity is that of property investment.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 directors have reviewed the company’s financial position and its ability to continue as a going concern. In the directors’ assessment the company has sufficient resources to continue operating as a going concern for a period of not less than 12 months. 

 
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 period 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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Straight Line
Computer equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

Page 4

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.11

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 4 (2023 - 4).


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
124,670
3,135
127,805


Additions
-
1,338
1,338



At 30 April 2024

124,670
4,473
129,143



Depreciation


At 1 May 2023
2,597
220
2,817


Charge for the year on owned assets
31,168
1,336
32,504



At 30 April 2024

33,765
1,556
35,321



Net book value



At 30 April 2024
90,905
2,917
93,822



At 30 April 2023
122,073
2,915
124,988

Page 5

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
2,987,110


Additions at cost
392,998


Surplus on revaluation
(11,953)



At 30 April 2024
3,368,155

The 2024 valuations were made by directors, on an open market value for existing use basis.



At 30 April 2024




Page 6

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
957

Other debtors
1,768
8,549

Prepayments and accrued income
-
3,372

1,768
12,878



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
42,489
219,095

42,489
219,095



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
10,678
7,662

Other taxation and social security
829
-

Obligations under finance lease and hire purchase contracts
5,234
-

Other creditors
857,515
802,915

Accruals and deferred income
23,862
32,965

908,118
853,542


Page 7

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
934,917
944,917

Other loans
1,805,003
1,530,000

Net obligations under finance leases and hire purchase contracts
93,511
-

Other creditors
300,000
400,000

3,133,431
2,874,917


At the balance sheet date, an amount of £300,000 (2023: £400,000) was funding from the directors payable in more than one year.

The following liabilities were secured:

2024
2023
£
£



Bank loans
915,750
915,750

Other loans
1,805,003
1,530,000

2,720,753
2,445,750

Details of security provided:

A fixed charge secured against the company's investment property is registered at Companies House in favour of Landbay Partners Limited.  The charge is with respect to the mortgage facility. 
A fixed and floating charge secured against the company's investment property is registered at Companies House in favour of Kimberly Capital Limited.  The charge is with respect to the mortgage facility. 

Page 8

 
MOUNT PARK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
19,167
20,000


19,167
20,000

Amounts falling due 2-5 years

Bank loans
-
9,167


-
9,167

Amounts falling due after more than 5 years

Bank loans
915,750
915,750

Other loans
1,805,003
1,530,000

2,720,753
2,445,750

2,749,920
2,484,917



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,234
93,511

5,234
93,511

 
Page 9