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REGISTERED NUMBER: 02929750 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

BALTIC MILLS LIMITED

BALTIC MILLS LIMITED (REGISTERED NUMBER: 02929750)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BALTIC MILLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: The Rt Hon Viscount Torrington
The Viscountess Torrington





SECRETARY: The Viscountess Torrington





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: 02929750 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

BALTIC MILLS LIMITED (REGISTERED NUMBER: 02929750)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4 6
Investments 5 844,220 822,347
844,224 822,353

CURRENT ASSETS
Cash at bank 40,531 62,767

CREDITORS
Amounts falling due within one year 6 42,725 41,112
NET CURRENT (LIABILITIES)/ASSETS (2,194 ) 21,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

842,030

844,008

PROVISIONS FOR LIABILITIES 38,480 36,260
NET ASSETS 803,550 807,748

CAPITAL AND RESERVES
Called up share capital 1,502 1,502
Share premium 13,500 13,500
Retained earnings 788,548 792,746
SHAREHOLDERS' FUNDS 803,550 807,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

BALTIC MILLS LIMITED (REGISTERED NUMBER: 02929750)

BALANCE SHEET - continued
30 APRIL 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 1 November 2023 and were signed on its behalf by:





The Rt Hon Viscount Torrington - Director


BALTIC MILLS LIMITED (REGISTERED NUMBER: 02929750)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Baltic Mills Limited 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Fixed asset investments are measured at fair value through income and expenditure. The fair value was determined by reference to the net asset value price at the relevant year end date.

Investment income
Investment income is recognised at the point that it is received.

BALTIC MILLS LIMITED (REGISTERED NUMBER: 02929750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 549 1,302 1,851
DEPRECIATION
At 1 May 2022 543 1,302 1,845
Charge for year 2 - 2
At 30 April 2023 545 1,302 1,847
NET BOOK VALUE
At 30 April 2023 4 - 4
At 30 April 2022 6 - 6

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2022 822,347
Additions 125,731
Disposals (115,841 )
Revaluations 11,983
At 30 April 2023 844,220
NET BOOK VALUE
At 30 April 2023 844,220
At 30 April 2022 822,347

BALTIC MILLS LIMITED (REGISTERED NUMBER: 02929750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 April 2023 is represented by:

Other
investments
£   
Valuation in 2017 184,741
Valuation in 2018 5,691
Valuation in 2019 4,383
Valuation in 2020 (126,090 )
Valuation in 2021 174,129
Valuation in 2022 (52,012 )
Valuation in 2023 11,983
Cost 641,395
844,220

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Tax - 4,200
Directors' current accounts 41,226 35,812
Accrued expenses 1,499 1,100
42,725 41,112