ACCOUNTS - Final Accounts

Registered number: 01482627

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2025

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

REGISTERED NUMBER:01482627

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		1,749		1,908
			1,749		1,908
Current assets
Stocks	6	11,723		9,360
Debtors: amounts falling due within one year	7	155,299		12,039
Cash at bank and in hand	8	40,181		70,588
		207,203		91,987
Creditors: amounts falling due within one year	9	(67,039)		(26,136)
Net current assets			140,164		65,851
Total assets less current liabilities			141,913		67,759

Net assets			141,913		67,759

Capital and reserves
Profit and loss account	141,913	67,759
	141,913	67,759

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr G T Ayling

Director

Date: 19 March 2026

The notes on pages 2 to 7 form part of these financial statements.

Page 1

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	GENERAL INFORMATION

The company is limited by guarantee, incorporated in England within the United Kingdom. The registered office is Mount Kelly Foundation, Parkwood Road, Tavistock, Devon, PL19 0HZ.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors continue to assess market trends and the commercial appetite for enterprise opportunities. On this basis, a new Commercial Manager and Head of Enterprise programs have been recruited to maximise the use of the estate and site infrastructure and to optimise and diversify revenue generation.
The increase in the number of residential lettings and overseas partnerships has strengthened the business model creating further financial resilience. On this basis, the directors consider it appropriate for the financial statements to be prepared on a going concern basis.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements	-	2%	straight line
Plant and machinery	-	20%	straight line
Motor vehicles	-	20%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

3.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2025 was unqualified.

The audit report was signed on 24 April 2026 by Nathan Coughlin FCA (Senior Statutory Auditor) on behalf of Bishop Fleming Audit Limited.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 9 (2024: 9).

Page 4

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5.	TANGIBLE FIXED ASSETS

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
COST OR VALUATION
At 1 September 2024	43,932	2,385	46,317
At 31 August 2025	43,932	2,385	46,317
DEPRECIATION
At 1 September 2024	43,932	477	44,409
Charge for the year on owned assets	-	159	159
At 31 August 2025	43,932	636	44,568
NET BOOK VALUE
At 31 August 2025	-	1,749	1,749
At 31 August 2024	-	1,908	1,908

Page 5

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

6.	STOCKS
		2025	2024
		£	£

	Finished goods and goods for resale	11,723	9,360

DEBTORS

					2025	2024
					£	£


Trade debtors	35,032	4,729
Amounts owed by group undertakings	111,659	-
Prepayments and accrued income	8,608	7,310
	155,299	12,039

8.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

	Cash at bank and in hand	40,181	70,588

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	16,885	5,269
Amounts owed to group undertakings	30,155	-
Other taxation and social security	8,745	10,292
Accruals and deferred income	11,254	10,575
	67,039	26,136


10.	COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 6

MOUNT KELLY ENTERPRISES LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

11.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,503 (2024: £2,786). Contributions totaling £Nil (2024: £1,587) were payable to the fund at the reporting date and are included in creditors.

12.	RELATED PARTY TRANSACTIONS
	As the company is a wholly owned subsidiary of The Mount Kelly Foundation, the company has taken exemption under FRS 102 1AC.35 in not disclosing related party transactions with the parent entity.

13.	CONTROLLING PARTY

The ultimate parent entity is The Mount Kelly Foundation, a registered charity. Consolidated accounts are prepared by the charity and are available from its registered office at Mount Kelly, Parkwood Road, Tavistock, Devon, PL19 0HZ.

Page 7