REG - Mountview Estates. - Publication of 2025 Annual Report & Notice of AGM

Mountview Estates P.L.C.Announcement

11/07/2025 11:30

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RNS Number : 7662Q  Mountview Estates PLC  11 July 2025

 

11 July 2025

Mountview Estates P.L.C.

Publication of 2025 Annual Report and Accounts

&

Notice of 2025 Annual General Meeting

Mountview Estates P.L.C. (the "Company") announces that the Annual Report and
Accounts for the year ended 31 March 2025 ("2025 ARA") together with the 2025
Notice of Annual General Meeting (the "2025 AGM") has been sent to
shareholders and is available to download from the Company's website
www.mountviewplc.co.uk (http://www.mountviewplc.co.uk) .

Copies of these documents, together with the Form of Proxy for the Annual
General Meeting, will be made available for inspection in unedited full text
on the National Storage Mechanism at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) in accordance with
the Financial Conduct Authority's ("FCA") UK Listing Rule 6.4.1R.

AGM arrangements

 

The Company's 2025 AGM will be held at the offices of Norton Rose Fulbright
LLP, 3 More London Riverside, London SE1 2AQ on Wednesday, 13 August 2025 at
11.00 a.m.

 

Voting

 

The Board urges all shareholders to exercise their vote and submit their proxy
as soon as possible. All shareholders are encouraged to appoint the chairman
of the meeting as their proxy even if they intend to attend in person. This is
to ensure their vote is counted even if they (or any other proxy appointed)
are not able to attend in person on the day of the 2025 AGM. Results of voting
will be published as soon as practicable following the conclusion of the
meeting.

 

Engagement with shareholders is important to the Company and arrangements have
been made so that shareholders can participate in the 2025 AGM by submitting
questions or matters of concern in connection with the business of the 2025
AGM in advance. Any specific questions on the business of the 2025 AGM and on
the resolutions can be submitted by email to reception@mountviewplc.co.uk
(mailto:reception@mountviewplc.co.uk) or by writing to the Company Secretary,
Mountview House, 151 High Street, Southgate, London N14 6EW. The Board
encourages questions to be submitted as soon as possible and no later than 1
August 2025 and the Board will provide responses to relevant questions by way
of a written Q&A posted on the Company's website as soon as practicable in
advance of the AGM, and no later than Friday, 8 August 2025. The Notice of
2025 AGM explains the arrangements for submitting questions.

 

The 2025 ARA, as submitted to the National Storage Mechanism (and available on
the Company's website at www.mountviewplc.co.uk.
(http://www.mountviewplc.co.uk) ), contains the following regulated
information in unedited full text:

·    The Principal Risks and uncertainties facing the Company;

·    Related Party Transactions; and

·    The Statement of Directors' Responsibilities.

 

The ESEF format of the 2025 ARA will be submitted to the FCA's National
Storage Mechanism in due course and will be available in compliance with
paragraph 4.1.15R and paragraph 6.3.5R of the FCA's Disclosure Guidance and
Transparency Rules.

~ ENDS ~

Enquiries:

For further information on the Company, visit: www.mountviewplc.co.uk
(http://www.mountviewplc.co.uk)

SPARK Advisory Partners Limited (Financial Adviser)
www.sparkadvisorypartners.com (http://www.sparkadvisorypartners.com)

 Mark Brady  020 3368 3550

 

APPENDIX

 

PRINCIPAL RISKS AND UNCERTAINTIES

The following statement is extracted from the 2025 ARA

 

Making effective decisions to realise our strategic and operational aims is
underpinned by our risk management processes that embrace monitoring of
currently identified risks, scanning for emerging risks and then once
identified assessing those risks and our response to them within our context
and the challenges placed on us by the external environment. The Audit and
Risk Committee maintains our risk matrix which classifies risks broadly
between those for active and regular monitoring and those for reporting on by
exception and reports on them to the Board (Risk Matrix). The Risk Matrix
contains risks related to past risks that have materialised and have been
addressed but which are currently considered to be remote for example pandemic
response informed by our experience during the Covid-19 pandemic. The Risk
Matrix also includes risks where the impact could be high, but probability is
deemed low and it is these risks in particular that we consider when assessing
longer term resilience and viability.

 

Using our Risk Matrix we have carried out a robust assessment of the principal
risks facing the Company, including those that would threaten its business
model, future performance or solvency. The following list of risks does not
comprise all of the risks the Company or Group may face, and they are not
presented in order of importance.

 

1. TRADING STOCK - REGULATED TENANCIES

RISK

Reduced opportunity to replace asset sales of vacant properties due to the
reducing number of regulated tenancies available for purchase.

MITIGATION

The Group has developed clear criteria that are applied when considering asset
purchases. Using these, the Group has again performed excellently in a
difficult market replacing properties sold in the year ended 31 March 2025,
through substantial purchasing during the year. The 'Analysis of Acquisitions'
is on pages 8 and 9 of the 2025 ARA.

 

2. MARKET

RISK

Weak macro-economic conditions triggered by external events such as
geo-political matters (e.g. Brexit, Covid-19 and military and trade wars) or
UK-based regulatory or legislative changes impacting on market structure and
confidence.

MITIGATION

The Group's exposure is weighted towards the stronger London and South East
markets and this geographical area has over the long term consistently been an
above-average performer.

 

3. FINANCIAL

RISK

Reduced availability of financing options resulting in inability to meet
business plans.

MITIGATION

The Group monitors its bank accounts and loans closely to maintain sufficient
capacity. We review our loan facilities regularly. The Group is conservatively
geared and operates well within financial covenants. Financial Key Performance
indicators are on page 11 of the 2025 ARA. Details of the Group's current
facilities are set out in Note 18 on pages 83 and 84 of the 2025 ARA.

 

4. DIVIDENDS

RISK

The Group seeks to provide shareholders with good returns on their investment.
This aim could be put at risk if the Group was unable to sustain the level of
dividends for any reason.

MITIGATION

We carefully monitor our strategy and our results in order to identify any
risk to dividend levels.

The Group maintains a strong balance sheet. With appropriate banking
facilities, we are able to maintain our trading stock by taking advantage of
purchasing opportunities when they occur.

 

5. PEOPLE

RISK

Capacity to maintain strategy is compromised due to inability to attract and
retain suitably experienced employees.

MITIGATION

Mountview employs a relatively small workforce which enables personal
interaction at all levels.

The Company has a stringent recruitment process to ensure we employ
appropriately skilled staff. We carry out regular appraisals and offer
employees opportunities for training and development courses. The Company has
a good record of long-term service, a great number of our employees have
worked for the Group for over 12 years. Details of employees and diversity are
set out in Notes 9 and 10 of the Directors' Report on pages 31 and 32 of the
2025 ARA.

 

6. REGULATORY

RISK

Risk of not meeting new or changed regulatory requirements and obligations
that affect the Group's business activities and could lead to fines or
penalties.

MITIGATION

The Group engages in close working relationships with appropriate authorities
and advisers to ensure it meets its obligations.

 

7. OPERATIONS AND PROPERTY MAINTENANCE

RISK

Legal action against the Group for failure to meet its obligations under
property management and safety legislation.

MITIGATION

In addition to its own regular inspections, the Group engages professional
external companies to undertake health and safety, gas and electrical checks,
fire risk assessments, etc to ensure we meet our commitments as employers and
landlords. Our staff receive regular training to ensure their skills are kept
up to date.

Our Compliance Officer monitors our performance against existing regulations
and tracks and prepares for new requirements as they are published.

 

8. CLIMATE

RISK

The impact on the Group of climate related matters. For example, changing
regulations or physical risks following changing weather patterns, including
extreme weather events, that could lead to increased wear and tear or other
property damage and transition risks, for example following regulatory
changes.

MITIGATION

The regular inspections noted above provide the Group with opportunities to
identify properties that may be at risk which would be considered for more
frequent inspections. Due diligence for purchases aims to identify properties
with higher than normal inherent risks for flooding or other water risks. We
explain more fully on pages 17 to 25 of the 2025 ARA in our notes on TCFD how
we approach and handle climate related risks.

 

EMERGING RISK

As well as monitoring the incidence of currently identified risks we also look
for emerging trends in operations that could become active risks. In addition,
we carry out horizon scanning through our network of stakeholders, notably our
advisers, and also by reviewing published emerging risk reports.

Where emergent risks arise and are concluded to be relevant to Mountview's
business then when considering which risks, including climate risks, to
include in our framework we use the TRAP (Terminate; Reduce; Accept; Pass on)
model to guide our approach.

 

THE OVERALL RISK ENVIRONMENT

Given Mountview's business model and financial strength, while any risks
materialising could well have a negative impact on short term performance, and
lead to inconvenience, none are significant enough to threaten the continued
existence of the Group. We are confident that we can meet our strategic and
operational goals and in particular are in a strong position to take advantage
of purchasing opportunities as they arise. Where the likelihood of a risk
materialising becomes high and imminent, we factor accommodating the risk,
into our operational plans to be activated once the impact is clear. This is
the case with the Climate Transition risk related to tightening EPC
requirements where our teams are monitoring progress of the legislation. Other
risks are considered to be broadly unchanged from 2024 with moderate
assessments for both probability of occurrence and impact.

These principal risks were part of the Group's assessment of long term
viability, details of which are set out in the viability statement on pages 13
and 14 of the 2025 ARA.

 

RELATED PARTY TRANSACTIONS

The following statement is extracted from the 2025 ARA

 

1. During the financial year there were no key management personnel
emoluments, other than remuneration.

2. (a) Mountview Estates P.L.C. provides general management and administration
services to Ossian Investors Limited and Sinclair Estates Limited, companies
of which Mr D.M. Sinclair is a Director. Fees of £25,487 (2024: £19,867)
were charged for these services.

(b) Transactions between the Group and its subsidiaries, which are related
parties, have been eliminated on consolidation and have not been disclosed in
this note.

(c) The only key management are the Directors.

(d) As at 31 March 2025 the Group owed Mr D.M. Sinclair £5,298 (2024:
£1,529) in relation to an informal loan.

 

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The following statement is extracted from the 2025 ARA

 

The Directors are responsible for preparing the Annual Report, the Directors'
Remuneration Report and the Group and Company financial statements in
accordance with applicable law and regulations.

 

Company law requires the Directors to prepare financial statements for each
financial year. Under that law, the Directors are required to prepare the
Group and Company financial statements in accordance with UK Adopted
International Accounting Standards and applicable UK law.

 

The Directors have elected to prepare the Company financial statements in
accordance with United Kingdom Generally Accepted Accounting Practice (UK
GAAP) including FRS 102 and applicable law.

 

Under company law, the Directors must not approve the financial statements
unless they are satisfied that they give a true and fair view of the state of
affairs of the Group and Company and of their profit or loss for that period.

 

In preparing these financial statements, the Directors are required to:

●  select suitable accounting policies and then apply them consistently;

●  make judgements and estimates that are reasonable and prudent;

● present information, including accounting policies, in a manner that
provides relevant, reliable, comparable and understandable information;

●  in respect of Group financial statements, state whether UK Adopted
International Accounting Standards in conformity with the requirements of the
Companies Act 2006, have been followed, subject to any material departures
disclosed and explained in the Financial Statements;

●  in respect of the Company financial statements state whether applicable
UK Accounting Standards in conformity with the requirements of the Companies
Act 2006, have been followed, subject to any material departures disclosed and
explained in those statements; and

●  prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the Group and the Company will continue in
business.

 

The Directors are responsible for keeping adequate accounting records that are
sufficient to show and explain the Group and Company's transactions and
disclose with reasonable accuracy at any time the financial position of the
Group and Company and enable them to ensure that its financial statements
comply with the Companies Act 2006.

They have general responsibility for taking such steps as are reasonably open
to them to safeguard the assets of the Group and Company and to prevent and
detect fraud and other irregularities.

 

WEBSITE PUBLICATION

The Directors are responsible for ensuring the Annual Report including the
financial statements are made available on a website. Financial statements are
published on the Company's website in accordance with legislation in the UK
governing the preparation and dissemination of financial statements, which may
vary from legislation in other jurisdictions. The maintenance and integrity of
the Company's website is the responsibility of the Directors. The Directors'
responsibility also extends to the ongoing

integrity of the financial statements contained therein.

 

DIRECTORS' RESPONSIBILITIES PURSUANT TO DTR4

Each of the Directors, (as set out on page 26 of the 2025 ARA) as at the date
of this Report, confirms to the best of their knowledge that:

●  The Group financial statements, which have been prepared in accordance
with UK Adopted International Accounting Standards, give a true and fair view
of the assets, liabilities, financial position and profit of the Group.

●  The Company financial statements, which have been prepared in accordance
with United Kingdom Accounting Standards, comprising FRS 102, give a true and
fair view of the assets, liabilities and financial position of the Company.

●  The strategic report includes a fair review of the development and
performance of the business and the position of the Group and the Company,
together with a description of the principal risks and uncertainties that they
face.

●  The annual report and financial statements, taken as a whole, are fair,
balanced and understandable and provide the information necessary for
shareholders to assess the Group's performance, business model and strategy.

 

~ ENDS~

 

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