Mountcrest Holdings Limited Filleted accounts for Companies House (small and micro)

MOUNTCREST HOLDINGS LIMITED - Company Information

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 134,915 134,915 134,915 xbrli:pure xbrli:shares iso4217:GBP 11748266 2022-02-01 2023-01-31 11748266 2023-01-31 11748266 2022-01-31 11748266 2021-02-01 2022-01-31 11748266 2022-01-31 11748266 2021-01-31 11748266 bus:Director1 2022-02-01 2023-01-31 11748266 core:WithinOneYear 2023-01-31 11748266 core:WithinOneYear 2022-01-31 11748266 core:ShareCapital 2023-01-31 11748266 core:ShareCapital 2022-01-31 11748266 core:RetainedEarningsAccumulatedLosses 2023-01-31 11748266 core:RetainedEarningsAccumulatedLosses 2022-01-31 11748266 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 11748266 core:LandBuildings core:OwnedOrFreeholdAssets 2022-01-31 11748266 bus:SmallEntities 2022-02-01 2023-01-31 11748266 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 11748266 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 11748266 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11748266 bus:FullAccounts 2022-02-01 2023-01-31

COMPANY REGISTRATION NUMBER: 11748266

Mountcrest Holdings Limited

Filleted Unaudited Financial Statements

31 January 2023

Mountcrest Holdings Limited

Financial Statements

Year ended 31 January 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Mountcrest Holdings Limited

Statement of Financial Position

31 January 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	134,915	134,915

Current assets

Cash at bank and in hand	16,424	8,505

Creditors: amounts falling due within one year	6	148,456	145,575
		---------	---------
Net current liabilities		132,032	137,070
		---------	---------
Total assets less current liabilities		2,883	( 2,155)
		-------	-------
Net assets/(liabilities)		2,883	( 2,155)
		-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,783	( 2,255)
	-------	-------
Shareholder funds/(deficit)	2,883	( 2,155)
	-------	-------

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.

For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 3 November 2023 , and are signed on behalf of the board by:

Mr J Gradus
Director

Company registration number: 11748266

Mountcrest Holdings Limited

Notes to the Financial Statements

Year ended 31 January 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 certain financial assets and liabilities and 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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current. recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

All fixed assets are initially recorded at cost. The company considers its property to be investment properties and are therefore carried at fair value in the Financial Statements. Investment property Investment property is initially recorded 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. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. Employee numbers

The total number of people employed by the company amounted to 1 (2022: 1).

5. Tangible assets

	Freehold property
	£
Cost
At 1 February 2022 and 31 January 2023	134,915
	---------
Depreciation
At 1 February 2022 and 31 January 2023	–
	---------
Carrying amount
At 31 January 2023	134,915
	---------
At 31 January 2022	134,915
	---------

Freehold property represent investment property and are held at fair value. The investment property is valued at the purchase price by Rix & Kay Solicitors. The Director believes that the value was not materially different at the period end.

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	1,178	90
Corporation tax	1,178	–
Other creditors	146,100	145,485
	---------	---------
	148,456	145,575
	---------	---------

7. Related party transactions

At the period end, the company owed the director £144,350 (2022: £143,735).