Company No: 11713311 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	671,993		653,325
		671,993		653,325
Current assets
Debtors	4	51,485		47,460
Cash at bank and in hand		13,689		29,615
		65,174		77,075
Creditors: amounts falling due within one year	5	( 487,856)		( 486,073)
Net current liabilities		(422,682)		(408,998)
Total assets less current liabilities		249,311		244,327
Creditors: amounts falling due after more than one year	6	( 1,250)		( 4,250)
Provision for liabilities		( 121,000)		( 116,600)
Net assets		127,061		123,477
Capital and reserves
Called-up share capital	7	100		100
Revaluation reserve		365,391		349,791
Profit and loss account		( 238,430 )		( 226,414 )
Total shareholder's funds		127,061		123,477

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Mountfield House Limited (registered number: 11713311) were approved and authorised for issue by the Board of Directors on 24 September 2025. They were signed on its behalf by:

Mr J Dutfield Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mountfield House Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Main Office, Woodmead Road, Axminster, EX13 5PQ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The parent company will continue to provide financial support in the form of intercompany loans, and will not withdraw its funding. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a previously recognised revaluation loss recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in the profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 January 2024	650,000		16,884		666,884
Revaluations	20,000		0		20,000
At 31 December 2024	670,000		16,884		686,884
Accumulated depreciation
At 01 January 2024	0		13,559		13,559
Charge for the financial year	0		1,332		1,332
At 31 December 2024	0		14,891		14,891
Net book value
At 31 December 2024	670,000		1,993		671,993
At 31 December 2023	650,000		3,325		653,325

Revaluation of tangible assets

Freehold land and buildings were valued by the directors to fair value at 31 December 2024. Freehold land and buildings with a carrying amount of £670,000 (2023: £650,000) have been included within the net book value of land and buildings above. If the land and buildings had been accounted for under cost accounting rules, the properties would have a value of £183,609 (2023: £183,609).

4. Debtors

	2024		2023
	£		£
Trade debtors	9,926		9,926
Other debtors	41,559		37,534
	51,485		47,460

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	3,000		3,000
Trade creditors	860		272
Amounts owed to Parent undertakings	481,186		480,055
Other creditors	2,810		2,746
	487,856		486,073

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	1,250		4,250

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemption to not disclose transactions with 100% group companies.

9. Ultimate controlling party

Parent Company:

Axminster Group Limited, incorporated in United Kingdom.

The registered office is Main Office, Woodmead Road, Axminster, EX13 5PQ.