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Company Registration No. 08606680 (England and Wales)
Mountgrove Limited Unaudited accounts for the year ended 31 August 2024
Mountgrove Limited Unaudited accounts Contents
Page
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Mountgrove Limited Company Information for the year ended 31 August 2024
Directors
Abraham Uhr Henna Lewin
Secretary
Abraham Uhr
Company Number
08606680 (England and Wales)
Registered Office
40 Clifton Gardens London N15 6AP England
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Mountgrove Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,441 
3,056 
Investment property
2,383,774 
2,383,774 
2,387,215 
2,386,830 
Current assets
Debtors
1,186,634 
1,155,604 
Cash at bank and in hand
26,635 
70,803 
1,213,269 
1,226,407 
Creditors: amounts falling due within one year
(319,970)
(357,013)
Net current assets
893,299 
869,394 
Total assets less current liabilities
3,280,514 
3,256,224 
Creditors: amounts falling due after more than one year
(1,654,249)
(1,661,785)
Provisions for liabilities
Deferred tax
(51,223)
(51,223)
Net assets
1,575,042 
1,543,216 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,575,041 
1,543,215 
Shareholders' funds
1,575,042 
1,543,216 
For the year ending 31 August 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by
Abraham Uhr Director Company Registration No. 08606680
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Mountgrove Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Mountgrove Limited is a private company, limited by shares, registered in England and Wales, registration number 08606680. The registered office is 40 Clifton Gardens, London, N15 6AP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing Balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Mountgrove Limited Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2023
5,007 
Additions
992 
At 31 August 2024
5,999 
Depreciation
At 1 September 2023
1,951 
Charge for the year
607 
At 31 August 2024
2,558 
Net book value
At 31 August 2024
3,441 
At 31 August 2023
3,056 
5
Transactions with related parties
Included within Debtors are amounts aggregating to £728,114 (2023: £728,114) due from group undertakings. Also included within Debtors are amounts aggregating to £384,500 (2023: £383,500) due from companies with a director in common with this company. Included within Creditors are amounts aggregating to £19,140 (2023: £19,140) owed to group undertakings. Also included within Creditors are amounts aggregating to £26,500 (2023: £26,500) owed to a company with a director in common with this company.
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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