Company Registration No. 03432037 (England and Wales)
MOUNTHILL LIMITED
Unaudited accounts
for the year ended 30 September 2024
MOUNTHILL LIMITED
Unaudited accounts
Contents
MOUNTHILL LIMITED
Company Information
for the year ended 30 September 2024
Directors
Mr D Stern
Mr B Stern
Mrs R Levi
Company Number
03432037 (England and Wales)
Registered Office
C/O LMK ACCOUNTING LTD THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
ENGLAND
Accountants
Kaushik Khiroya, AFA
LMK ACCOUNTING LTD
THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
MOUNTHILL LIMITED
Statement of financial position
as at 30 September 2024
Investment property
790,000
790,000
Cash at bank and in hand
29,688
35,165
Creditors: amounts falling due within one year
(12,704)
(47,380)
Net current assets/(liabilities)
20,329
(6,818)
Total assets less current liabilities
810,329
783,183
Provisions for liabilities
Deferred tax
(89,069)
(89,069)
Net assets
721,260
694,114
Called up share capital
2
2
Revaluation reserve
204,289
204,289
Profit and loss account
516,969
489,823
Shareholders' funds
721,260
694,114
For the year ending 30 September 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.
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 18 June 2025 and were signed on its behalf by
Mr D Stern
Director
Company Registration No. 03432037
MOUNTHILL LIMITED
Notes to the Accounts
for the year ended 30 September 2024
MOUNTHILL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03432037. The registered office is C/O LMK ACCOUNTING LTD THE GATEHOUSE, GATEHOUSE WAY, AYLESBURY, HP19 8DB, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Revenue, described as turnover, represents rents receivable excluding Value Added Tax. Turnover is recognised in accordance with the due dates under the terms of the lease agreement.
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
20% - on reducing balance
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 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 are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11.
Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are recognised at amortised cost.
Advanced financial instruments which include interest rate swaps and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
MOUNTHILL LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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.
4
Tangible fixed assets
Fixtures & fittings
At 30 September 2024
4,599
At 30 September 2024
4,599
Fair value at 1 October 2023
790,000
At 30 September 2024
790,000
Amounts falling due within one year
Accrued income and prepayments
3,345
5,397
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
6,367
36,905
Other creditors
3,625
4,750
Loans from directors
672
3,685
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).