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REGISTERED NUMBER: 11162429 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Mill Homes (Derby) Ltd

Mill Homes (Derby) Ltd (Registered number: 11162429)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mill Homes (Derby) Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: S Singh
B S Chahal





SECRETARY: Mrs M Tak





REGISTERED OFFICE: 2 Besthorpe Close
Oakwood
Derby
DE21 4RQ





REGISTERED NUMBER: 11162429 (England and Wales)





ACCOUNTANTS: NP & Associates Limited
2 Besthorpe Close
Oakwood
Derby
Derbyshire
DE21 4RQ

Mill Homes (Derby) Ltd (Registered number: 11162429)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,968 17,691
Investment property 5 1,550,831 1,517,459
1,569,799 1,535,150

CURRENT ASSETS
Debtors 6 55 35,055
Cash at bank 80,115 16,471
80,170 51,526
CREDITORS
Amounts falling due within one year 7 537,282 910,438
NET CURRENT LIABILITIES (457,112 ) (858,912 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,112,687

676,238

CREDITORS
Amounts falling due after more than one year 8 1,076,502 672,467
NET ASSETS 36,185 3,771

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,085 3,671
SHAREHOLDERS' FUNDS 36,185 3,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mill Homes (Derby) Ltd (Registered number: 11162429)

Balance Sheet - continued
31 January 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:




S Singh - Director



B S Chahal - Director


Mill Homes (Derby) Ltd (Registered number: 11162429)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Mill Homes (Derby) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Mill Homes (Derby) Ltd (Registered number: 11162429)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2022 22,716
Additions 6,019
At 31 January 2023 28,735
DEPRECIATION
At 1 February 2022 5,025
Charge for year 4,742
At 31 January 2023 9,767
NET BOOK VALUE
At 31 January 2023 18,968
At 31 January 2022 17,691

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 1,517,459
Additions 33,372
At 31 January 2023 1,550,831
NET BOOK VALUE
At 31 January 2023 1,550,831
At 31 January 2022 1,517,459

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 55 55
Other debtors - 35,000
55 35,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 54,000 10,000
Trade creditors - 26,410
Amounts owed to group undertakings 218,747 415,799
Other creditors 264,535 458,229
537,282 910,438

Mill Homes (Derby) Ltd (Registered number: 11162429)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,076,502 672,467

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 877,169 639,134

9. SECURED DEBTS

The bank loan is secured by a fixed and floating charge over the company investment property.

10. RELATED PARTY DISCLOSURES

Included in creditors are amounts owing to Kedleston Homes Ltd, a company which is controlled by the director.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Abacus Holdings Limited.