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COMPANY REGISTRATION NUMBER: 12576293
The Old Mill & Barn Limited
Filleted Unaudited Financial Statements
30 April 2023
The Old Mill & Barn Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
543,099
411,888
Current assets
Debtors
6
80,843
Cash at bank and in hand
6,848
13,418
------------
------------
6,848
94,261
Creditors: amounts falling due within one year
7
( 282,048)
( 216,648)
------------
------------
Net current liabilities
( 275,200)
( 122,387)
------------
------------
Total assets less current liabilities
267,899
289,501
Creditors: amounts falling due after more than one year
8
( 293,889)
( 290,974)
------------
------------
Net liabilities
( 25,990)
( 1,473)
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 25,992)
( 1,475)
------------
------------
Shareholders deficit
( 25,990)
( 1,473)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Old Mill & Barn Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 9 December 2023 , and are signed on behalf of the board by:
Mr R O'Hare
Director
Company registration number: 12576293
The Old Mill & Barn Limited
Notes to the Financial Statements
Year ended 30 April 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 The Old Mill, Egloskerry, Launceston, Cornwall, PL15 8SU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2022
411,888
411,888
Additions
115,477
18,511
133,988
------------
------------
------------
At 30 April 2023
527,365
18,511
545,876
------------
------------
------------
Depreciation
At 1 May 2022
Charge for the year
2,777
2,777
------------
------------
------------
At 30 April 2023
2,777
2,777
------------
------------
------------
Carrying amount
At 30 April 2023
527,365
15,734
543,099
------------
------------
------------
At 30 April 2022
411,888
411,888
------------
------------
------------
6. Debtors
2023
2022
£
£
Other debtors
80,843
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
282,048
216,648
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
293,889
290,974
------------
------------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr R O'Hare
( 214,342)
( 62,605)
( 276,947)
------------
------------
------------
------------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr R O'Hare
( 7,361)
( 260,574)
53,593
( 214,342)
------------
------------
------------
------------