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REGISTERED NUMBER: 00032795 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

The Mill Company Limited

The Mill Company Limited (Registered number: 00032795)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Mill Company Limited

Company Information
for the year ended 31 March 2023







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)






The Mill Company Limited (Registered number: 00032795)

Abridged Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
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 Mill Company Limited (Registered number: 00032795)

Abridged Balance Sheet - continued
31 March 2023


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


The Mill Company Limited (Registered number: 00032795)

Notes to the Financial Statements
for the year ended 31 March 2023

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.

The Mill Company Limited (Registered number: 00032795)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

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).

The Mill Company Limited (Registered number: 00032795)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

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

The Mill Company Limited (Registered number: 00032795)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

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