MOUNTWEST 829 LIMITED
SC351192
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MHA
12 CARDEN PLACE
ABERDEEN
AB10 1UR
MOUNTWEST 829 LIMITED
COMPANY INFORMATION
Director
Martin Booth
Company number
SC351192
Registered office
3 Bon Accord Square
Aberdeen
AB11 60J
Accountants
MHA
12 Carden Place
Aberdeen
AB10 1UR
Solicitors
James & George Collie
Solicitors
1 East Craibstone Street
Aberdeen
AB11 6YQ
MOUNTWEST 829 LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
MOUNTWEST 829 LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
355,000
355,000
Current assets
Debtors
5
7,498
14,414
Cash at bank and in hand
161,282
155,713
168,780
170,127
Creditors: amounts falling due within one year
6
(43,216)
(54,279)
Net current assets
125,564
115,848
Total assets less current liabilities
480,564
470,848
Creditors: amounts falling due after more than one year
7
(189,072)
(197,811)
Net assets
291,492
273,037
Capital and reserves
Called up share capital
8
600
600
Capital redemption reserve
200
200
Profit and loss reserves
290,692
272,237
Total equity
291,492
273,037

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 September 2025
2025-09-26
Martin Booth
Director
Company registration number SC351192 (Scotland)
MOUNTWEST 829 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 December 2022
600
200
258,151
258,951
Year ended 30 November 2023:
Profit and total comprehensive income for the year
-
-
14,086
14,086
Balance at 30 November 2023
600
200
272,237
273,037
Year ended 30 November 2024:
Profit and total comprehensive income for the year
-
-
18,455
18,455
Balance at 30 November 2024
600
200
290,692
291,492
MOUNTWEST 829 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

Mountwest 829 Limited is a private company limited by shares in the United Kingdom incorporated in Scotland. The registered office is 3 Bon Accord Square, Aberdeen, AB11 60J.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover represents amounts receivable for rental of property net of VAT.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for the rental of the property. Rental income in arrears is included in debtors and rental income paid in advance by tenants is included in creditors.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Cash at bank and in hand

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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MOUNTWEST 829 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loan s that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MOUNTWEST 829 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The key judgement undertaken by the director is whether there is any indication of impairment of the carrying value of the investment property.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
MOUNTWEST 829 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 December 2023 and 30 November 2024
355,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 November 2023 by the directors of the company who were in office at that time. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties and the director is of the opinion this value is still appropriate as at 30 November 2024. No depreciation is provided.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
13,423
Other debtors
7,498
991
7,498
14,414
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
15,336
15,336
Trade creditors
6,662
-
0
Corporation tax
9,706
10,161
Other taxation and social security
2,205
6,701
Other creditors
9,307
22,081
43,216
54,279

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
189,072
197,811

Bank loan is secured by a standard security over the company property and a floating charge over the assets of the company.

MOUNTWEST 829 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Authorised
100 A ordinary shares of £1 each
100
100
100 B ordinary shares of £1 each
100
100
100 D ordinary shares of £1 each
100
100
100 E ordinary shares of £1 each
100
100
100 F ordinary shares of £1 each
100
100
100 H ordinary shares of £1 each
100
100
600
600
9
Directors' transactions

At the year end the director was due £452 to the company (2023 - £174 due by the company.) The loan is unsecured, interest free and repayable on demand.

2024-11-30 2023-12-01 false false false 26 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Martin Booth SC351192 2023-12-01 2024-11-30 SC351192 bus:Director1 2023-12-01 2024-11-30 SC351192 bus:RegisteredOffice 2023-12-01 2024-11-30 SC351192 bus:Agent1 2023-12-01 2024-11-30 SC351192 2024-11-30 SC351192 2023-11-30 SC351192 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 SC351192 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 SC351192 core:ShareCapital 2024-11-30 SC351192 core:ShareCapital 2023-11-30 SC351192 core:CapitalRedemptionReserve 2024-11-30 SC351192 core:CapitalRedemptionReserve 2023-11-30 SC351192 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC351192 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC351192 core:ShareCapital 2022-11-30 SC351192 2022-11-30 SC351192 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 SC351192 2022-12-01 2023-11-30 SC351192 core:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 SC351192 2023-11-30 SC351192 core:CurrentFinancialInstruments 2024-11-30 SC351192 core:CurrentFinancialInstruments 2023-11-30 SC351192 core:WithinOneYear 2024-11-30 SC351192 core:WithinOneYear 2023-11-30 SC351192 core:Non-currentFinancialInstruments 2024-11-30 SC351192 core:Non-currentFinancialInstruments 2023-11-30 SC351192 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC351192 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 SC351192 bus:FRS102 2023-12-01 2024-11-30 SC351192 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC351192 bus:FullAccounts 2023-12-01 2024-11-30 xbrli:pure xbrli:shares iso4217:GBP