REGISTERED NUMBER: OC404555 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 MARCH 2025

FOR

MOUNTGOLD RENTALS LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

P W Giggins

Mrs L M Giggins

REGISTERED OFFICE:

Unit 4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

REGISTERED NUMBER:

OC404555 (England and Wales)

ACCOUNTANTS:

Kings Chartered Accountants

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

The members present their report with the financial statements of the LLP for the year ended 29 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property investments.

DESIGNATED MEMBERS

The designated members during the year under review were:

P W Giggins

Mrs L M Giggins

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £55,451 (2024 - £26,576 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

P W Giggins - Designated member

17 December 2025

TURNOVER

303,817

290,546

Administrative expenses

258,405

222,704

OPERATING PROFIT

4

45,412

67,842

Interest receivable and similar income

5

7

45,417

67,849

Interest payable and similar expenses

100,868

94,425

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(55,451

)

(26,576

)

FIXED ASSETS

Tangible assets

5

81,846

124,244

Investment property

6

5,715,000

5,715,000

5,796,846

5,839,244

CURRENT ASSETS

Debtors

7

35,089

18,175

Cash at bank

10,795

56,941

45,884

75,116

CREDITORS

Amounts falling due within one year

8

301,072

280,459

NET CURRENT LIABILITIES

(255,188

)

(205,343

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,541,658

5,633,901

CREDITORS

Amounts falling due after more than one year

9

3,131,888

3,209,155

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,409,770

2,424,746

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

2,409,770

2,424,746

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

2,409,770

2,424,746

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 29 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 17 December 2025 and were signed by:

P W Giggins - Designated member

1.	STATUTORY INFORMATION

Mountgold Rentals LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

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

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 etc

-

33% on reducing balance and 25% on reducing balance

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.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEE INFORMATION

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.4.23

Year Ended

to

29.3.25

29.3.24

£

£

Depreciation - owned assets

30,201

27,675

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 30 March 2024

177,759

Additions

999

Disposals

(28,625

)

At 29 March 2025

150,133

DEPRECIATION

At 30 March 2024

53,515

Charge for year

30,201

Eliminated on disposal

(15,429

)

At 29 March 2025

68,287

NET BOOK VALUE

At 29 March 2025

81,846

At 29 March 2024

124,244

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 30 March 2024

and 29 March 2025

5,715,000

NET BOOK VALUE

At 29 March 2025

5,715,000

At 29 March 2024

5,715,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.3.25

29.3.24

£

£

Trade debtors

8,117

6,216

Amounts owed by participating interests

20,512

5,484

Other debtors

6,460

6,475

35,089

18,175

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.3.25

29.3.24

£

£

Hire purchase contracts

3,735

3,735

Trade creditors

3,419

1,254

Amounts owed to participating interests

263,002

251,440

Taxation and social security

21,831

17,855

Other creditors

9,085

6,175

301,072

280,459

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.3.25

29.3.24

£

£

Bank loans

3,090,112

3,163,644

Hire purchase contracts

41,776

45,511

3,131,888

3,209,155

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

3,090,112

3,163,644

10.	SECURED DEBTS

The following secured debts are included within creditors:

29.3.25

29.3.24

£

£

Bank Loans

3,090,112

3,163,644

Bank loans are secured are secured by way of a fixed charge on the properties to which they relate.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

29.3.25

29.3.24

£

£

Amounts owed to members in respect of profits

2,409,770

2,424,746

Falling due within one year

2,409,770

2,424,746

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.