Company registration number 09388002 (England and Wales)
OLD MILL PROPERTY DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
OLD MILL PROPERTY DEVELOPMENTS LIMITED
COMPANY INFORMATION
Directors
Mr D Rollinson
Mrs H K Rollinson
Company number
09388002
Registered office
The Old Co-op
69 High Street
Dodworth
Barnsley
South Yorkshire
S75 3RQ
Accountants
Brearley & Co Accountants Limited
39/43 Bridge Street
Swinton
Mexborough
South Yorkshire
S64 8AP
Bankers
Santander UK Plc
Bridle Road
Bootle
Merseyside
L30 4GB
OLD MILL PROPERTY DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OLD MILL PROPERTY DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
110,000
110,000
Current assets
Debtors
5
86,432
90,434
Cash at bank and in hand
36,341
65,826
122,773
156,260
Creditors: amounts falling due within one year
6
(90,698)
(107,682)
Net current assets
32,075
48,578
Total assets less current liabilities
142,075
158,578
Provisions for liabilities
(4,113)
(4,113)
Net assets
137,962
154,465
Capital and reserves
Called up share capital
7
100
100
Fair value reserve
17,536
17,537
Profit and loss reserves
120,326
136,828
Total equity
137,962
154,465

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 20 August 2024 and are signed on its behalf by:
Mrs H K Rollinson
Director
Company registration number 09388002 (England and Wales)
OLD MILL PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Old Mill Property Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Co-op, 69 High Street, Dodworth, Barnsley, South Yorkshire, S75 3RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
OLD MILL PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
110,000
OLD MILL PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,809
4,002
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
82,623
86,432
Total debtors
86,432
90,434

Other debtors consists of Third party loan £82,623 (2023 - £86,432) Third party loan paid within one year £3,809 (2023 - £3,810) and prepayments £NIL (2023 - £192)

6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
735
-
0
Taxation and social security
3,166
9,453
Other creditors
86,797
98,229
90,698
107,682

Other creditors includes Directors' current accounts £86.137 (2023 - £97,137) and Accruals £660 (2023 - £1,092).

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
2024-03-312023-04-01false20 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr D RollinsonMrs H K Rollinsonfalsefalse093880022023-04-012024-03-3109388002bus:Director12023-04-012024-03-3109388002bus:Director22023-04-012024-03-3109388002bus:RegisteredOffice2023-04-012024-03-3109388002bus:Agent12023-04-012024-03-31093880022024-03-31093880022023-03-3109388002core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3109388002core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109388002core:CurrentFinancialInstruments2024-03-3109388002core:CurrentFinancialInstruments2023-03-3109388002core:ShareCapital2024-03-3109388002core:ShareCapital2023-03-3109388002core:OtherMiscellaneousReserve2024-03-3109388002core:OtherMiscellaneousReserve2023-03-3109388002core:RetainedEarningsAccumulatedLosses2024-03-3109388002core:RetainedEarningsAccumulatedLosses2023-03-31093880022021-12-012023-03-31093880022023-03-3109388002core:WithinOneYear2024-03-3109388002core:WithinOneYear2023-03-3109388002core:AfterOneYear2024-03-3109388002core:AfterOneYear2023-03-3109388002bus:PrivateLimitedCompanyLtd2023-04-012024-03-3109388002bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109388002bus:FRS1022023-04-012024-03-3109388002bus:AuditExemptWithAccountantsReport2023-04-012024-03-3109388002bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP