REGISTERED NUMBER: 07887371 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MOUNT'S BAY TRADING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W D Radmore

Mrs S P Radmore

SECRETARY:

Mrs S P Radmore

REGISTERED OFFICE:

PZ360

St Mary's Terrace

PENZANCE

Cornwall

TR18 4DZ

REGISTERED NUMBER:

07887371 (England and Wales)

ACCOUNTANT:

Catherine Bennett Ltd

Chartered Accountant

Wheal Harmony House

Solomon Road

Redruth

Cornwall

TR15 1FD

FIXED ASSETS

Tangible assets

4

426

852

Investment property

5

2,500,000

2,250,000

2,500,426

2,250,852

CURRENT ASSETS

Debtors

6

106,637

44,822

Cash at bank

61,877

38,957

168,514

83,779

CREDITORS

Amounts falling due within one year

7

975,355

937,049

NET CURRENT LIABILITIES

(806,841

)

(853,270

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,693,585

1,397,582

CREDITORS

Amounts falling due after more than one year

8

1,346,560

1,356,991

NET ASSETS

347,025

40,591

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10

346,925

40,491

SHAREHOLDERS' FUNDS

347,025

40,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

W D Radmore - Director

1.	STATUTORY INFORMATION

Mount's Bay Trading 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 (£).

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is included at 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.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grants

Capital grants received in respect of the cost of tangible fixed assets are treated as deferred income and recognised in the profit and loss account over the useful economic life of those assets.

Going concern

At 31 March 2025 the directors remain confident in the company meeting its ongoing trading obligations going forward, with an annual rental cover at +76% over fixed loan repayments which is anticipated to marginally improve over 2025/26 as rent reviews fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

13,727

12,968

26,695

DEPRECIATION

At 1 April 2024

13,417

12,426

25,843

Charge for year

155

271

426

At 31 March 2025

13,572

12,697

26,269

NET BOOK VALUE

At 31 March 2025

155

271

426

At 31 March 2024

310

542

852

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,250,000

Revaluations

250,000

At 31 March 2025

2,500,000

NET BOOK VALUE

At 31 March 2025

2,500,000

At 31 March 2024

2,250,000

Residential build costs of £2,155,197 included within investment property in 2023 have been transferred into purchases within the profit and loss as they relate to properties that were developed with the intention of resale and sold within the year ended 31 March 2024.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2013

397,129

Valuation in 2013

161,563

Valuation in 2016

238,227

Valuation in 2019

382,864

Valuation in 2022

(1,142,096

)

Valuation in 2023

(437,968

)

Valuation in 2024

1,030,560

Valuation in 2025

250,000

Cost

1,619,721

2,500,000

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

31/3/25

31/3/24

£

£

Cost

1,619,721

1,619,721

Investment property was valued on a fair value basis on 31 March 2025 by the director W Radmore .

The valuation was carried out by the director W Radmore, who is a chartered surveyor and based on the valuations of Savills prepared 28 February 2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

22,070

-

Other debtors

77,153

35,466

Prepayments and accrued income

7,414

9,356

106,637

44,822

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Other loans

10,186

9,940

Trade creditors

8,923

22,155

Tax

13,776

-

Social security and other taxes

2,176

2,015

VAT

8,729

5,159

Other creditors

-

1,423

Directors' current accounts

760,794

731,793

Accruals and deferred income

170,771

164,564

975,355

937,049

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans more 5 yr by instal

1,343,663

1,343,663

Other loans - 1-2 years

2,897

10,648

Other loans - 2-5 years

-

2,680

1,346,560

1,356,991

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,343,663

1,343,663

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

£

Bank loans

1,343,663

1,343,663

The loan of £1,343,663 is secured in favour of Allica Bank with a fixed charge and negative pledge over PZ360.

10.

RESERVES

Retained

earnings

£

At 1 April 2024

40,491

Profit for the year

306,434

At 31 March 2025

346,925

The reserves are defined as:

31/3/25

31/3/24

£

£

Distributable

(533,354)

(589,788)

Non-distributable

880,279

630,279

Total

346,925

40,491

11.	RELATED PARTY DISCLOSURES