Company registration number 02698194 (England and Wales)
KEITH MOUNT (LIMING) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
KEITH MOUNT (LIMING) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
KEITH MOUNT (LIMING) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,077,492
954,608
Investment property
4
625,000
625,000
Investments
5
120
20
1,702,612
1,579,628
Current assets
Stocks
7,793
6,633
Debtors
6
100,468
168,570
Cash at bank and in hand
272,372
163,255
380,633
338,458
Creditors: amounts falling due within one year
7
(310,445)
(241,408)
Net current assets
70,188
97,050
Total assets less current liabilities
1,772,800
1,676,678
Creditors: amounts falling due after more than one year
8
(220,384)
(227,984)
Provisions for liabilities
9
(180,286)
(150,824)
Net assets
1,372,130
1,297,870
Capital and reserves
Called up share capital
10
200
200
Fair value reserve
13
225,694
225,694
Profit and loss reserves
1,146,236
1,071,976
Total equity
1,372,130
1,297,870
KEITH MOUNT (LIMING) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr A R Mount
Director
Company registration number 02698194 (England and Wales)
KEITH MOUNT (LIMING) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
Share capital
Fair value reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
200
227,786
916,910
1,144,896
Year ended 30 June 2023:
Profit and total comprehensive income
-
-
248,910
248,910
Dividends
-
-
(95,936)
(95,936)
Non-distributable transfer
-
(2,092)
2,092
-
Balance at 30 June 2023
200
225,694
1,071,976
1,297,870
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
170,490
170,490
Dividends
-
-
(96,230)
(96,230)
Balance at 30 June 2024
200
225,694
1,146,236
1,372,130
KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Keith Mount (Liming) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Eldo House, Suffolk Business Park, Bury St Edmunds, Suffolk, IP32 7AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

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

 

Turnover is recognised in the period in which it relates, with income invoiced in advance recognised as deferred income and income invoice in arrears recognised as accrued income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and machinery
25% on reducing balance
Fixtures, fittings and equipment
25% on cost and 15% on reducing balance
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property is held at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

1.5
Fixed asset investments

Fixed asset investments are stated at lower of cost and net realisable value.

KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets, excluding investment properties, to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.13
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
10
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
581,213
588,452
1,169,665
Additions
-
0
296,841
296,841
Disposals
-
0
(109,514)
(109,514)
At 30 June 2024
581,213
775,779
1,356,992
Depreciation and impairment
At 1 July 2023
-
0
215,057
215,057
Depreciation charged in the year
-
0
112,527
112,527
Eliminated in respect of disposals
-
0
(48,084)
(48,084)
At 30 June 2024
-
0
279,500
279,500
Carrying amount
At 30 June 2024
581,213
496,279
1,077,492
At 30 June 2023
581,213
373,395
954,608
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
625,000

Investment property comprises commercial units held at Risby Business Park. Investment property was valued on an open market value basis on 30 June 2024 by the directors.

KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
4
Investment property
(Continued)
- 8 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
347,000
347,000
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
-
0
Other investments other than loans
20
20
120
20

Shares in group undertakings and participating interests comprises the company's 100% shareholding in Eastern Spreading Limited.

Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 July 2023
-
20
20
Additions
100
-
100
At 30 June 2024
100
20
120
Carrying amount
At 30 June 2024
100
20
120
At 30 June 2023
-
20
20
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
57,856
159,719
Amounts owed by group undertakings
39,832
-
0
Other debtors
2,780
8,851
100,468
168,570
KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
27,910
47,970
Trade creditors
223,020
114,522
Amounts owed to group undertakings
2,895
-
0
Taxation and social security
32,202
51,554
Other creditors
24,418
27,362
310,445
241,408

Bank loans are secured by fixed charges over the property to which they relate.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
220,384
227,984

Bank loans are secured by fixed charges over the property to which they relate.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
136,404
52,578
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
180,286
150,824
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
50
50
50
50
Ordinary B shares of £1 each
50
50
50
50
Ordinary C shares of £1 each
50
50
50
50
Ordinary D shares of £1 each
50
50
50
50
200
200
200
200
KEITH MOUNT (LIMING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 10 -
11
Fair value reserve
2024
2023
£
£
Non-distributable profits at the beginning of the year
225,694
227,786
Transfer
-
(2,092)
Non-distributable profits at the end of the year
225,694
225,694
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