Caseware UK (AP4) 2022.0.179 2022.0.179 2022-03-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activity00true 12040745 2022-03-01 2023-02-28 12040745 2023-02-28 12040745 2021-03-01 2022-02-28 12040745 2022-02-28 12040745 c:Director1 2022-03-01 2023-02-28 12040745 d:Buildings 2022-03-01 2023-02-28 12040745 d:Buildings 2023-02-28 12040745 d:Buildings 2022-02-28 12040745 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12040745 d:FurnitureFittings 2022-03-01 2023-02-28 12040745 d:FurnitureFittings 2023-02-28 12040745 d:FurnitureFittings 2022-02-28 12040745 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12040745 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12040745 d:CurrentFinancialInstruments 2023-02-28 12040745 d:CurrentFinancialInstruments 2022-02-28 12040745 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12040745 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12040745 d:ShareCapital 2023-02-28 12040745 d:ShareCapital 2022-02-28 12040745 d:RetainedEarningsAccumulatedLosses 2023-02-28 12040745 d:RetainedEarningsAccumulatedLosses 2022-02-28 12040745 c:OrdinaryShareClass1 2022-03-01 2023-02-28 12040745 c:OrdinaryShareClass1 2023-02-28 12040745 c:OrdinaryShareClass1 2022-02-28 12040745 c:FRS102 2022-03-01 2023-02-28 12040745 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12040745 c:FullAccounts 2022-03-01 2023-02-28 12040745 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12040745













Idle Mill Limited

Financial statements
Information for filing with the registrar

28 February 2023




 
Idle Mill Limited


Balance sheet
At 28 February 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
723,884
727,546

  
723,884
727,546

Current assets
  

Bank and cash balances
  
4,517
-

  
4,517
-

Creditors: amounts falling due within one year
 5 
(616,636)
(649,340)

Net current liabilities
  
 
 
(612,119)
 
 
(649,340)

Total assets less current liabilities
  
111,765
78,206

Provisions for liabilities
  

Deferred tax
  
(3,452)
(4,077)

  
 
 
(3,452)
 
 
(4,077)

Net assets
  
108,313
74,129


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
108,312
74,128

Shareholders' funds
  
108,313
74,129


Page 1

 
Idle Mill Limited

    
Balance sheet (continued)
At 28 February 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income 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 on 3 October 2023.




Lyn Dayson
Director

Company registered number: 12040745
The notes on pages 3 to 6 form part of these financial statements. 

Page 2

 
Idle Mill Limited
 
 

Notes to the financial statements
Year ended 28 February 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 Third Floor, Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company from rental income and that it 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. 

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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.

Page 3

 
Idle Mill Limited
 

 
Notes to the financial statements
Year ended 28 February 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance method

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

Freehold property

Freehold property is carried at fair value determined annually by the directors and derived from the current market rents and property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

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.


3.


Employees

The company has no employees other than the director, who did not receive any remuneration.

Page 4

 
Idle Mill Limited
 
 

Notes to the financial statements
Year ended 28 February 2023

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2022
711,566
30,573
742,139


Additions
-
355
355



At 28 February 2023

711,566
30,928
742,494



Depreciation


At 1 March 2022
-
14,593
14,593


Charge for the year
-
4,017
4,017



At 28 February 2023

-
18,610
18,610



Net book value



At 28 February 2023
711,566
12,318
723,884



At 28 February 2022
711,566
15,980
727,546


5.


Creditors: amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
603,800
639,196

Corporation tax
8,433
5,377

Other creditors
2,613
2,613

Accruals and deferred income
1,790
2,154

616,636
649,340


Page 5

 
Idle Mill Limited
 
 

Notes to the financial statements
Year ended 28 February 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



7.


Controlling party

The ultimate controlling party for the company was Stateplus Limited, a company registered in England and Wales as the parent company.

 
Page 6