Registered number
10805587
Mounts Bay Estate Properties Ltd
Unaudited Filleted Accounts
30 June 2024
Mounts Bay Estate Properties Ltd
Registered number: 10805587
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,254,402 1,218,406
Current assets
Debtors 4 500 500
Cash at bank and in hand 1,215 2,402
1,715 2,902
Creditors: amounts falling due within one year 5 (1,301,545) (1,270,345)
Net current liabilities (1,299,830) (1,267,443)
Net liabilities (45,428) (49,037)
Capital and reserves
Called up share capital 100 100
Profit and loss account (45,528) (49,137)
Shareholders' funds (45,428) (49,037)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Deborah Wareing
Director
Approved by the board on 27 March 2025
Mounts Bay Estate Properties Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings over 4 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Fixtures & fittings Total
£ £ £
Cost
At 1 July 2023 1,209,306 36,462 1,245,768
Additions 45,096 - 45,096
At 30 June 2024 1,254,402 36,462 1,290,864
Depreciation
At 1 July 2023 - 27,362 27,362
Charge for the year - 9,100 9,100
At 30 June 2024 - 36,462 36,462
Net book value
At 30 June 2024 1,254,402 - 1,254,402
At 30 June 2023 1,209,306 9,100 1,218,406
4 Debtors 2024 2023
£ £
Corporation tax 500 500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Mortgages 422,225 357,000
Trade creditors 1,270 2,330
Directors loan 865,050 898,015
Other creditors 13,000 13,000
1,301,545 1,270,345
6 Other information
Mounts Bay Estate Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
90 Brixton Hill
London
SW2 1QN
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