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Company Registration No. 08731902 (England and Wales)
Old Mill Park Limited UNAUDITED for the year ended 31 October 2023
Old Mill Park Limited UNAUDITED Contents
Page
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Old Mill Park Limited Company Information for the year ended 31 October 2023
Directors
Simon Andrew Shaw Neil David Eckert
Company Number
08731902 (England and Wales)
Registered Office
Audrey House 16-20 Ely Place London EC1N 6SN United Kingdom
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Old Mill Park Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
598,944 
592,147 
Current assets
Inventories
775,550 
741,119 
Debtors
93,309 
34,196 
Cash at bank and in hand
517 
12,883 
869,376 
788,198 
Creditors: amounts falling due within one year
(652,550)
(586,658)
Net current assets
216,826 
201,540 
Total assets less current liabilities
815,770 
793,687 
Creditors: amounts falling due after more than one year
(417,874)
(417,874)
Net assets
397,896 
375,813 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
397,894 
375,811 
Shareholders' funds
397,896 
375,813 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by
Neil David Eckert Director Company Registration No. 08731902
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Old Mill Park Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Old Mill Park Limited is a private company, limited by shares, registered in England and Wales, registration number 08731902. The registered office is Audrey House, 16-20 Ely Place, London, EC1N 6SN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
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Old Mill Park Limited Notes to the Accounts for the year ended 31 October 2023
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods: Revenue from the sale of goods is recognised when all of the following conditions are satisfied: The Company has transferred the significant risks and rewards of ownership to the buyer; The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; The amount of revenue can be measured reliably; It is probable that the Company will receive the consideration due under the transaction; and The costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services: Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: The amount of revenue can be measured reliably; It is probable that the Company will receive the consideration due under the contract; The stage of completion of the contract at the end of the reporting period can be measured reliably; and The costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Land & buildings
10% Straight Line for Road and 2% Straight Line for Others
Plant & machinery
10% Straight Line
Fixtures & fittings
20% Straight Line
Other tangible fixed assets
10% Straight Line
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Old Mill Park Limited Notes to the Accounts for the year ended 31 October 2023
Stock
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Going concern
After reviewing the company's operations, financial position and short and long term cash flow forecast, the Directors have a reasonable expectation that the Company has adequate resources to continue operating and meet its financial obligations. For this reason, the financial statements have been prepared as a going concern
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
Taxation
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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Old Mill Park Limited Notes to the Accounts for the year ended 31 October 2023
Judgments in applying accounting policies and key sources of estimation uncertainty
In the process of applying the Company's accounting policies, which are described in Note 2, management has made some judgments that have significant effect on the amounts recognized in the financial statements. These also include key assumptions concerning the future, and other key sources of estimation uncertainty at the statement of financial position date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
600,317 
67,904 
1,392 
669,613 
Additions
- 
22,029 
4,582 
26,611 
At 31 October 2023
600,317 
89,933 
5,974 
696,224 
Depreciation
At 1 November 2022
16,495 
60,683 
288 
77,466 
Charge for the year
9,303 
9,938 
573 
19,814 
At 31 October 2023
25,798 
70,621 
861 
97,280 
Net book value
At 31 October 2023
574,519 
19,312 
5,113 
598,944 
At 31 October 2022
583,822 
7,221 
1,104 
592,147 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,323 
1,536 
Trade debtors
88,968 
20,842 
Accrued income and prepayments
47 
5,664 
Other debtors
2,971 
6,154 
93,309 
34,196 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
138,586 
70,878 
Taxes and social security
2,366 
1,548 
Other creditors
1,909 
1,911 
Loans from directors
491,094 
491,094 
Accruals
18,595 
21,227 
652,550 
586,658 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
417,874 
417,874 
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Old Mill Park Limited Notes to the Accounts for the year ended 31 October 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
As of 31 October 2023, the company owed the directors an amount of £908,968 (2022: £908,968). In addition to this, the company also owed £64,066 (2022: £64,066) to Neil Eckert. Further, Neil Eckert is also the director at Boutique Modern and Chalvington Management Ltd to which the company has paid the below amounts : Boutique Modern: No payment against the development of caravans (2022: £176,668) and £99.60 against park maintenance during the year. Chalvington Management Ltd: No payment against the management fees (2022: £16,694), and no payment (2022: £45,653) against park maintenance during the year. This year's accruals related to management fees amounted to GBP 10,181 (2022: £4,574).
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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