REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Mountbureau Property Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
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 |
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 |
Revaluations |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
Other debtors |
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 |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
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 |
Revaluation reserve | 8,100 |
At 31 March 2024 |
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. |