REGISTERED NUMBER: 00032795 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

The Mill Company Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P F Baldwin

C D Proctor-Smith

J S Vorley

SECRETARY:

P F Baldwin

REGISTERED OFFICE:

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

BUSINESS ADDRESS:

9 Willaston Avenue

Blacko

Nelson

Lancashire

BB9 6LU

REGISTERED NUMBER:

00032795 (England and Wales)

FIXED ASSETS

Tangible assets

4

675,000

675,000

Investments

5

369,962

411,568

1,044,962

1,086,568

CURRENT ASSETS

Debtors

59,270

49,785

Cash at bank

231,644

177,274

290,914

227,059

CREDITORS

Amounts falling due within one year

12,050

10,297

NET CURRENT ASSETS

278,864

216,762

TOTAL ASSETS LESS CURRENT LIABILITIES

1,323,826

1,303,330

PROVISIONS FOR LIABILITIES

6

113,980

117,490

NET ASSETS

1,209,846

1,185,840

CAPITAL AND RESERVES

Called up share capital

7

13,525

13,820

Capital redemption reserve

8

920

625

Retained earnings

8

1,195,401

1,171,395

SHAREHOLDERS' FUNDS

1,209,846

1,185,840

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:

P F Baldwin - Director

1.	STATUTORY INFORMATION

The Mill Company 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.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operated a defined contribution pension scheme until 31/3/22,when the employee left the company. Contributions payable to the company's pension scheme were charged to profit or loss in the period to which they related.

Tangible fixed assets

The company's land and buildings have been valued by the directors on the basis of rental income.

Depreciation is provided on a straight line basis to write off the cost of other assets over their estimated useful life as follows:

Plant and equipment : 20% p.a.

Investments

Investments listed on a recognised stock exchange are revalued annually to market value with the gain or loss on revaluation being recognised in the income statement.

Turnover

Turnover represents net rents receivable together with work done for other organisations, net of value added tax.

3.

EMPLOYEES

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2022

717,677

Disposals

(6,547

)

At 31 March 2023

711,130

DEPRECIATION

At 1 April 2022

42,677

Eliminated on disposal

(6,547

)

At 31 March 2023

36,130

NET BOOK VALUE

At 31 March 2023

675,000

At 31 March 2022

675,000

Cost or valuation at 31 March 2023 is represented by:

Totals

£

Valuation in 2023

591,673

Cost

119,457

711,130

The valuation of freehold land and buildings was reviewed at 31 March 2018 by an independent firm of chartered surveyors, Petty Chartered Surveyors. In their opinion the total value of the company's premises was £675,000.The directors consider that this valuation is still appropriate.

The potential tax liability arising on the revaluation surplus is £57,900 (2022 £57,900).

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 April 2022

383,600

Revaluations

(17,944

)

At 31 March 2023

365,656

NET BOOK VALUE

At 31 March 2023

365,656

At 31 March 2022

383,600

Cost or valuation at 31 March 2023 is represented by:

Totals

£

Valuation in 2022

352,326

Cost

13,330

365,656

Investments (neither listed nor unlisted) were as follows:

31/3/23

31/3/22

£

£

Ground rents and land, at cost

27,968

27,980

Ground rents and land disposal s

(23,662

)

(12

)

4,306

27,968

The deferred tax liability on market value was £55,800 (2022 £59,200).

6.	PROVISIONS FOR LIABILITIES

31/3/23

31/3/22

£

£

Deferred tax

Other timing differences

113,980

117,490

Deferred

tax

£

Balance at 1 April 2022

117,490

Credit to Income Statement during year

(3,510

)

Balance at 31 March 2023

113,980

7.	CALLED UP SHARE CAPITAL

31/3/23 31/3/22

£ £

Allotted, issued and fully paid

Ordinary shares of 50p each Number

At 1 April 2022 27,640 13,820 13,820

Purchased during the year (590) (295) -

At 31 March 2023 27,050 13,525 13,820

8.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2022

1,171,395

625

1,172,020

Profit for the year

339,256

339,256

Dividends

(297,550

)

(297,550

)

Purchase of own shares

(295

)

295

-

Premium paid on purchase of ow

n shares

(17,405

)

-

(17,405

)

At 31 March 2023

1,195,401

920

1,196,321

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,974 (2022 - £9,218) were paid to the directors .

The company's accounting and secretarial functions were partly managed by Mayes Business Partnership Ltd to whom Mr P F Baldwin was a consultant.

The amount paid for services on a normal commercial basis was:

2023 £2,700

2022 £2,700