Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falsefalseBuying and selling of own real estate22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03530508 2022-12-01 2023-11-30 03530508 2021-12-01 2022-11-30 03530508 2023-11-30 03530508 2022-11-30 03530508 c:Director2 2022-12-01 2023-11-30 03530508 d:ComputerSoftware 2022-12-01 2023-11-30 03530508 d:ComputerSoftware 2023-11-30 03530508 d:ComputerSoftware 2022-11-30 03530508 d:FreeholdInvestmentProperty 2023-11-30 03530508 d:FreeholdInvestmentProperty 2022-11-30 03530508 d:CurrentFinancialInstruments 2023-11-30 03530508 d:CurrentFinancialInstruments 2022-11-30 03530508 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03530508 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 03530508 d:ShareCapital 2023-11-30 03530508 d:ShareCapital 2022-11-30 03530508 d:InvestmentPropertiesRevaluationReserve 2022-12-01 2023-11-30 03530508 d:InvestmentPropertiesRevaluationReserve 2023-11-30 03530508 d:InvestmentPropertiesRevaluationReserve 2022-11-30 03530508 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 03530508 d:RetainedEarningsAccumulatedLosses 2023-11-30 03530508 d:RetainedEarningsAccumulatedLosses 2022-11-30 03530508 c:FRS102 2022-12-01 2023-11-30 03530508 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 03530508 c:FullAccounts 2022-12-01 2023-11-30 03530508 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 03530508 6 2022-12-01 2023-11-30 03530508 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 03530508 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 03530508 2 2023-11-30 03530508 2 2022-11-30 03530508 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 03530508









MILL HILL ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
MILL HILL ESTATES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 10


 
MILL HILL ESTATES LIMITED
REGISTERED NUMBER: 03530508

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
93,681
120,000

Investments
 5 
95,119
78,374

Investment property
 6 
1,000,000
1,000,000

  
1,188,800
1,198,374

Current assets
  

Debtors: amounts falling due within one year
 7 
5,500
5,500

Cash at bank and in hand
 8 
39,829
29,416

  
45,329
34,916

Creditors: amounts falling due within one year
 9 
(5,040)
(2,998)

Net current assets
  
 
 
40,289
 
 
31,918

Total assets less current liabilities
  
1,229,089
1,230,292

Provisions for liabilities
  

Deferred tax
 10 
(237,287)
(237,288)

  
 
 
(237,287)
 
 
(237,288)

Net assets
  
991,802
993,004


Capital and reserves
  

Called up share capital 
  
3
3

Investment property reserve
 11 
711,857
711,857

Profit and loss account
 11 
279,942
281,144

  
991,802
993,004


Page 1

 
MILL HILL ESTATES LIMITED
REGISTERED NUMBER: 03530508
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 July 2024.




S Mattey
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Mill Hill Estates Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 03530508. The address of the registered office is Lawrence House, Goodwyn Avenue, Mill Hill, London, NW7 3RH. The principal activity of the company is that of property investment.

2.Accounting policies

 
2.1

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in pound sterling which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rental and ancillary income from properties for the period.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate.
Sums received for lease extensions have been deducted from the original cost where the company owns the relevant freehold reversions until the original cost is extinguished. Sums received for subsequent lease extensions are taken directly to profit and loss account.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

Page 4

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments
Page 5

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Crypto-Currency

£



Cost


At 1 December 2022
120,000



At 30 November 2023

120,000



Amortisation


Impairment charge
26,319



At 30 November 2023

26,319



Net book value



At 30 November 2023
93,681



At 30 November 2022
120,000



Page 7

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Unlisted Investments

£



Cost or valuation


At 1 December 2022
246,482



At 30 November 2023
246,482



Impairment


At 1 December 2022
168,108


Charge for the period
(16,745)



At 30 November 2023

151,363



Net book value



At 30 November 2023
95,119



At 30 November 2022
78,374


6.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
1,000,000



At 30 November 2023
1,000,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 8

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Debtors

2023
2022
£
£


Other debtors
5,500
5,500

5,500
5,500



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
39,829
29,416

39,829
29,416



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
2,280
239

Accruals and deferred income
2,760
2,759

5,040
2,998


Page 9

 
MILL HILL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(237,287)



At end of year
(237,287)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value movements
(237,287)
(237,287)

(237,287)
(237,287)


11.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents cumulative effects of fair value adjustments net of deferred tax and other adjustments.

Profit & loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.


12.


Controlling party

The ultimate controlling party is S Mattey by virtue of his majority shareholding in the company.

 
Page 10