Mountwest 614 Limited

	Page
Accountants' Report	1
Balance Sheet	2—3
Statement of Changes in Equity	4
Notes to the Financial Statements	5—8

Report to the director on the preparation of the unaudited statutory accounts of Mountwest 614 Limited for the year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mountwest 614 Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the director of Mountwest 614 Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mountwest 614 Limited and state those matters that we have agreed to state to the director of Mountwest 614 Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mountwest 614 Limited and its director as a body for our work or for this report.

It is your duty to ensure that Mountwest 614 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Mountwest 614 Limited . You consider that Mountwest 614 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Mountwest 614 Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

18 November 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Mountwest 614 Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: SC286581

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,125		2,206
Investment Properties	5		760,000		760,000
Investments	6		1,224,281		1,184,502

			1,985,406		1,946,708
CURRENT ASSETS
Debtors	7	18,737		143
Cash at bank and in hand		295,485		262,621

		314,222		262,764
Creditors: Amounts Falling Due Within One Year	8	(61,499 )		(51,426 )

NET CURRENT ASSETS (LIABILITIES)			252,723		211,338

TOTAL ASSETS LESS CURRENT LIABILITIES			2,238,129		2,158,046

PROVISIONS FOR LIABILITIES
Deferred Taxation			(29,413 )		(29,244 )

NET ASSETS			2,208,716		2,128,802

CAPITAL AND RESERVES
Called up share capital			100		100
Fair value reserve			(741,590 )		(742,907 )
Profit and Loss Account			2,950,206		2,871,609

SHAREHOLDERS' FUNDS			2,208,716		2,128,802

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Mountwest 614 Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr W Morrison

Director

14 November 2025

The notes on pages 5 to 8 form part of these financial statements.

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Mountwest 614 Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Fair value reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 April 2023	100	(828,985 )	2,840,321	2,011,436
Profit for the year and total comprehensive income	-	-	117,367	117,367

Transfer to/from Fair value reserve	-	-	(86,079)	(86,079)
Transfer to/from Profit & Loss Account	-	86,078	-	86,078

As at 31 March 2024 and 1 April 2024	100	(742,907 )	2,871,609	2,128,802


Profit for the year and total comprehensive income	-	-	79,914	79,914

Transfer to/from Fair value reserve	-	-	(1,317)	(1,317)
Transfer to/from Profit & Loss Account	-	1,317	-	1,317

As at 31 March 2025	100	(741,590 )	2,950,206	2,208,716

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Mountwest 614 Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Mountwest 614 Limited is a private company, limited by shares, incorporated in Scotland, registered number SC286581 . The registered office is 28, Albyn Place, Aberdeen, AB10 1YL.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Fixtures & Fittings	20% on cost
Computer Equipment	33% on reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these adjustments at the rate expected to apply when the properties are sold.

2.5. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price

including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

...CONTINUED

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Mountwest 614 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Financial Instruments - continued

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	34,896	4,936	4,917	44,749
Additions	-	-	470	470
Disposals	(33,688 )	-	(877 )	(34,565 )

As at 31 March 2025	1,208	4,936	4,510	10,654

Depreciation
As at 1 April 2024	34,560	4,936	3,047	42,543
Provided during the period	84	-	1,460	1,544
Disposals	(33,688 )	-	(870 )	(34,558 )

As at 31 March 2025	956	4,936	3,637	9,529

Net Book Value
As at 31 March 2025	252	-	873	1,125

As at 1 April 2024	336	-	1,870	2,206

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Mountwest 614 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	760,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	760,000	760,000

Included in cost of investment property is freehold land of £131,451 (2024 - £131,451) which is not depreciated.

6. Investments

	Listed
	£
Cost
As at 1 April 2024	1,184,502
Additions	618,523
Disposals	(580,500 )
Revaluations	1,756

As at 31 March 2025	1,224,281

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	1,224,281

As at 1 April 2024	1,184,502

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	18,600	-
VAT	137	143

	18,737	143

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	1,013
Corporation tax	12,864	39,117
Accruals and deferred income	47,699	10,672
Director's loan account	936	624

	61,499	51,426

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Mountwest 614 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	29,244	29,244
Deferred taxation	169	169

Balance at 31 March 2025	29,413	29,413

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr William Morrison	(624 )	-	(312 )	-	(936 )

The above loan is interest free and has no fixed repayment terms.

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