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Registration number: 07850749

Mountain Valley Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Mountain Valley Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Mountain Valley Limited

Company Information

Director

Nemanja Borjanovic

Registered office

19 The Arches
Loveridge Road
London
NW6 2DS

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Mountain Valley Limited

(Registration number: 07850749)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

63,402

72,225

Current assets

 

Stocks

6

347,717

334,651

Debtors

7

895,914

517,852

Other financial assets

5

15,601

14,113

Cash at bank and in hand

 

118,798

371,875

 

1,378,030

1,238,491

Creditors: Amounts falling due within one year

8

(1,063,838)

(874,008)

Net current assets

 

314,192

364,483

Total assets less current liabilities

 

377,594

436,708

Creditors: Amounts falling due after more than one year

8

(7,830)

(37,603)

Provisions for liabilities

(5,835)

(7,114)

Net assets

 

363,929

391,991

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

363,919

391,981

Shareholders' funds

 

363,929

391,991

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 March 2025
 

 

Mountain Valley Limited

(Registration number: 07850749)
Balance Sheet as at 30 November 2024

.........................................
Nemanja Borjanovic
Director

 

Mountain Valley Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
19 The Arches
Loveridge Road
London
NW6 2DS

These financial statements were authorised for issue by the director on 21 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mountain Valley Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Motor vehicle

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Mountain Valley Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 6).

 

Mountain Valley Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

58,255

71,368

129,623

Additions

-

2,500

2,500

At 30 November 2024

58,255

73,868

132,123

Depreciation

At 1 December 2023

13,456

43,942

57,398

Charge for the year

(907)

12,230

11,323

At 30 November 2024

12,549

56,172

68,721

Carrying amount

At 30 November 2024

45,706

17,696

63,402

At 30 November 2023

44,799

27,426

72,225

5

Other financial assets (current and non-current)

2024
£

2023
£

Current financial assets

Financial assets at fair value through profit and loss

15,601

14,113

6

Stocks

2024
£

2023
£

Other inventories

347,717

334,651

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

702,151

502,024

Amounts owed by related parties

11

89,155

-

Other debtors

 

104,608

15,828

   

895,914

517,852

 

Mountain Valley Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

67,313

57,967

Trade creditors

 

834,662

695,654

Taxation and social security

 

150,201

115,576

Accruals and deferred income

 

2,800

2,500

Other creditors

 

8,862

2,311

 

1,063,838

874,008

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

7,830

37,603

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

1,000

10

1,000

10

B Ordinary of £0.01 each

10

-

10

-

1,010

10

1,010

10

 

Mountain Valley Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,830

36,260

Finance lease liabilities

-

1,343

7,830

37,603

Current loans and borrowings

2024
£

2023
£

Bank borrowings

64,939

52,584

Finance lease liabilities

2,374

5,383

67,313

57,967

In terms of bank borrowings, Lloyds Bank holds charges dated 8 June 2021 and 22 October 2022 over the assets of the company.

11

Related party transactions

Summary of transactions with other related parties

Nemanja Borjanovic
(Director)
At the balance sheet date, amount due from director was £75,174 (2023: £0). Company has charged official rate of interest. The loan was repaid within nine months after the year end.

IBAI Limited
(Company under common control)
At the balance sheet date, amount due to from IBAI was £89,155 (2023: £0). This is interest free and repayable on demand.