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Company registration number: 03160532
Mountain Gap Limited
Unaudited filleted financial statements
31 March 2025
Mountain Gap Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Mountain Gap Limited
Directors and other information

| Directors | Mrs C A Townley |
|  | Mr C S Townley | (Appointed 17 September 2024)
| Secretary | Sekforde Street Nominees Limited |
| Company number | 03160532 |
| Registered office | 58 Winchester Street |
|  | London |
|  | W3 8PF |

Mountain Gap Limited
Statement of financial position
31 March 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 5 | - |  |  |  | 275,000 |  |
Investments |  | 6 | 200 |  |  |  | 200 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 200 |  |  |  | 275,200
Current assets |  |  |  |  |  |  |  |  |
Debtors |  | 7 | 430,814 |  |  |  | 418,246 |  |
Cash at bank and in hand |  |  | 1,801,387 |  |  |  | 1,529,872 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 2,232,201 |  |  |  | 1,948,118 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 8 | ( 113,883) |  |  |  | ( 1,672,404) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 2,118,318 |  |  |  | 275,714
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 2,118,518 |  |  |  | 550,914
Provisions for liabilities |  |  |  |  | - |  |  |  | ( 63,088)
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 2,118,518 |  |  |  | 487,826
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 2 |  |  |  | 2
Fair value reserve |  |  |  |  | - |  |  |  | 198,027
Profit and loss account |  |  |  |  | 2,118,516 |  |  |  | 289,797
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 2,118,518 |  |  |  | 487,826
|  |  |  |  | _______ |  |  |  | _______

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.
Directors responsibilities:
- The 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 directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 March 2026 , and are signed on behalf of the board by:
Mrs C A Townley
Director
Company registration number: 03160532
Mountain Gap Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 58 Winchester Street, London, W3 8PF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total of rent receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Investment property | - | No depreciation

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tax on profit
Major components of tax income/expense

|  |  | 2025 | 2024
|  |  | £ | £
| Current tax: |  |  |
| UK current tax expense |  | 19,345 | -
|  |  | _______ | _______
| Deferred tax: |  |  |
| Origination and reversal of timing differences |  | ( 63,088) | 63,088
|  |  | _______ | _______
| Tax on profit |  | ( 43,743) | 63,088
|  |  | _______ | _______

5. Tangible assets

|  | Freehold property | Total |  |  |  |  |
|  | £ | £ |  |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 April 2024 | 275,000 | 275,000 |  |  |  |  |
| Disposals | ( 275,000) | ( 275,000) |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 31 March 2025 | - | - |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 April 2024 and 31 March 2025 | - | - |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 March 2025 | - | - |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 31 March 2024 | 275,000 | 275,000 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |

Investment property
Included within the above is investment property measured at fair value as follows:

|  | £
| At 1 April 2024 | 275,000
| Disposals | ( 275,000)
|  | _______
| At 31 March 2025 | -
|  | _______

6. Investments

|  | Shares in group undertakings and participating interests | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 April 2024 and 31 March 2025 | 200 | 200 |  |  |  |
|  | _______ | _______ |  |  |  |
| Impairment |  |  |  |  |  |
| At 1 April 2024 and 31 March 2025 | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 March 2025 | 200 | 200 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2024 | 200 | 200 |  |  |  |
|  | _______ | _______ |  |  |  |

| Investments in group undertakings |  |  |  |
|  |  | Registered country | Class of share | Percentage of shares held
| Subsidiary undertakings |  |  |  |
| Active Rights Management Limited |  | England and Wales | Ordinary | 100
| CausalSpark Limited |  | England and Wales | Ordinary | 100

7. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Other debtors |  | 430,814 | 418,246
|  |  | _______ | _______

8. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 71,955 | 1,640,294
| Corporation tax |  | 36,220 | 26,578
| Other creditors |  | 5,708 | 5,532
|  |  | _______ | _______
|  |  | 113,883 | 1,672,404
|  |  | _______ | _______

9. Directors advances, credits and guarantees

| During the year the directors entered into the following advances and credits with the company: |  |  |  |  |  |
2025 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing |  |
|  | £ | £ | £ | £ |  |
| Mrs C A Townley | 50,000 | 70,000 | ( 120,000) | - |  |
|  | _______ | _______ | _______ | _______ |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing |  |
|  | £ | £ | £ | £ |  |
| Mrs C A Townley | - | 50,000 | - | 50,000 |  |
|  | _______ | _______ | _______ | _______ |  |