REGISTERED NUMBER: 06024939 (England and Wales)

Mount Wellington Mine Ltd

Unaudited Financial Statements

for the Year Ended 30th April 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R S Freeborn

SECRETARY:

Miss A B Early

REGISTERED OFFICE:

85 Great Portland Street

First Floor

London

W1W 7LT

REGISTERED NUMBER:

06024939 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Tangible assets

4

15,747

16,266

Investment property

5

2,705,000

2,705,000

2,720,747

2,721,266

CURRENT ASSETS

Stocks

19,270

23,399

Debtors

6

11,746

25,361

Cash at bank

2,345

12,418

33,361

61,178

CREDITORS

Amounts falling due within one year

7

(1,481,779

)

(1,615,305

)

NET CURRENT LIABILITIES

(1,448,418

)

(1,554,127

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,272,329

1,167,139

PROVISIONS FOR LIABILITIES

(252,897

)

(245,752

)

NET ASSETS

1,019,432

921,387

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,019,430

921,385

SHAREHOLDERS' FUNDS

1,019,432

921,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th September 2025 and were signed by:

R S Freeborn - Director

1.	STATUTORY INFORMATION

Mount Wellington Mine Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements cover a single entity.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at fair value. Any gains or losses arising on revaluation are recognised in the income statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 - 10% and 25% on cost, and straight line over 15 years

Office equipment - 25% on cost

Going concern

At the statement of financial position date the company had net current liabilities. The directors believe that the company will continue to meet its liabilities as they fall due with the continued support of its directors and other creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

machinery

equipment

Totals

£

£

£

COST

At 1st May 2024

64,838

9,640

74,478

Additions

4,835

1,283

6,118

At 30th April 2025

69,673

10,923

80,596

DEPRECIATION

At 1st May 2024

51,983

6,229

58,212

Charge for year

4,723

1,914

6,637

At 30th April 2025

56,706

8,143

64,849

NET BOOK VALUE

At 30th April 2025

12,967

2,780

15,747

At 30th April 2024

12,855

3,411

16,266

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2024

and 30th April 2025

2,705,000

NET BOOK VALUE

At 30th April 2025

2,705,000

At 30th April 2024

2,705,000

Fair value at 30th April 2025 is represented by:

£

Valuation in 2012

517,160

Valuation in 2015

388,991

Valuation in 2019

154,479

Valuation in 2020

(667

)

Valuation in 2021

(141,569

)

Valuation in 2024

(138,031

)

Cost

1,924,637

2,705,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

1,924,637

1,924,637

Investment property was valued on an open market basis on 4th September 2024 by Vickery Holman Property Consultants .

The director has valued the property at the 30 April 2025 to be in line with the professional valuation stated above.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

8,264

15,873

Other debtors

-

6,531

Prepayments

3,482

2,957

11,746

25,361

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

24,132

26,900

Tax

24,771

575

VAT

8,763

5,857

Other creditors

74

1,907

Directors' current accounts

1,421,464

1,577,671

Accrued expenses

2,575

2,395

1,481,779

1,615,305