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REGISTERED NUMBER: OC404555 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 29 MARCH 2024

FOR

MOUNTGOLD RENTALS LLP

MOUNTGOLD RENTALS LLP (REGISTERED NUMBER: OC404555)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 April 2023 to 29 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOUNTGOLD RENTALS LLP

GENERAL INFORMATION
for the Period 1 April 2023 to 29 March 2024







DESIGNATED MEMBERS: P W Giggins
Mrs L M Giggins





REGISTERED OFFICE: Unit 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: OC404555 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

MOUNTGOLD RENTALS LLP (REGISTERED NUMBER: OC404555)

BALANCE SHEET
29 March 2024

29.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 124,244 141,275
Investment property 5 5,715,000 4,520,000
5,839,244 4,661,275

CURRENT ASSETS
Debtors 6 18,175 8,261
Cash at bank 56,941 87,098
75,116 95,359
CREDITORS
Amounts falling due within one year 7 280,459 344,390
NET CURRENT LIABILITIES (205,343 ) (249,031 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,633,901

4,412,244

CREDITORS
Amounts falling due after more than one
year

8

3,209,155

2,597,196
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,424,746

1,815,048

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

2,424,746

1,815,048

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 2,424,746 1,815,048

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 29 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

MOUNTGOLD RENTALS LLP (REGISTERED NUMBER: OC404555)

BALANCE SHEET - continued
29 March 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 March 2025 and were signed by:





P W Giggins - Designated member

MOUNTGOLD RENTALS LLP (REGISTERED NUMBER: OC404555)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 April 2023 to 29 March 2024

1. STATUTORY INFORMATION

Mountgold Rentals LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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.
Plant and machinery etc - 33% on reducing balance and 25% 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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 4 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 180,356
Additions 66,738
Disposals 13,841
At 29 March 2024 260,935
DEPRECIATION
At 1 April 2023 39,081
Charge for period 27,675
Eliminated on disposal 69,935
At 29 March 2024 136,691
NET BOOK VALUE
At 29 March 2024 124,244
At 31 March 2023 141,275

MOUNTGOLD RENTALS LLP (REGISTERED NUMBER: OC404555)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 April 2023 to 29 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,520,000
Additions 1,195,000
At 29 March 2024 5,715,000
NET BOOK VALUE
At 29 March 2024 5,715,000
At 31 March 2023 4,520,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 31.3.23
£    £   
Trade debtors 6,216 7,022
Amounts owed by participating interests 5,484 588
Other debtors 6,475 651
18,175 8,261

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 31.3.23
£    £   
Hire purchase contracts 3,735 49,368
Trade creditors 1,254 6,728
Amounts owed to participating interests 251,440 271,689
Taxation and social security 17,855 10,956
Other creditors 6,175 5,649
280,459 344,390

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.3.24 31.3.23
£    £   
Bank loans 3,163,644 2,597,196
Hire purchase contracts 45,511 -
3,209,155 2,597,196

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 3,163,644 2,597,196

MOUNTGOLD RENTALS LLP (REGISTERED NUMBER: OC404555)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 April 2023 to 29 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

29.3.24 31.3.23
£    £   
Bank Loans 3,163,644 1,197,754

Bank loans are secured are secured by way of a fixed charge on the properties to which they relate.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
29.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 2,424,746 1,815,048

Falling due within one year 2,424,746 1,815,048

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.