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REGISTERED NUMBER: 13699411 (England and Wales)














Financial Statements

for the Year Ended 31 January 2024

for

Pin Mill Limited

Pin Mill Limited (Registered number: 13699411)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pin Mill Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Cohen
M Cohen



REGISTERED OFFICE: Reedham House, 31 King Street West
Manchester
United Kingdom
M3 2PJ



BUSINESS ADDRESS: Pin Mill House
Priestley Road
Wardley Industrial Estate
Manchester
M28 2LX



REGISTERED NUMBER: 13699411 (England and Wales)



SENIOR STATUTORY AUDITOR: Ian Sluckis BA FCA



AUDITORS: Freedman Frankl & Taylor
Statutory Auditors
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Pin Mill Limited (Registered number: 13699411)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 1,112,495 1,399,392
Cash at bank 11,616 389,713
1,124,111 1,789,105
CREDITORS
Amounts falling due within one year 5 1,056,231 1,736,442
NET CURRENT ASSETS 67,880 52,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,880

52,663

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 67,680 52,463
67,880 52,663

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





M Cohen - Director


Pin Mill Limited (Registered number: 13699411)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Pin Mill 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.

Significant judgements and estimates
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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

Turnover
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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pin Mill Limited (Registered number: 13699411)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The company's financial statements for the year ended 31 January 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,079,189 1,399,192
Other debtors 33,306 200
1,112,495 1,399,392

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 420,841 805,611
Taxation and social security 4,311 44,636
Other creditors 631,079 886,195
1,056,231 1,736,442

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Sluckis BA FCA (Senior Statutory Auditor)
for and on behalf of Freedman Frankl & Taylor

7. CONTINGENT LIABILITIES

The company has guaranteed to a maximum of £2,480,000 the bank facility of an associated company. At 31 January 2024, that company had bank borrowings of £2,411,906 (2023: £1,261,783).

8. RELATED PARTY DISCLOSURES

During the year, the company purchased goods to a value of £3,413,096 (2023: £2,174,888) and paid management charges of £450,000 (2023: £240,461) to an entity in which one of the directors of the company has a material interest.
At 31 January 2024, there was £870,871 (2023: £1,184,909) owed to this entity.

At 31 January 2024, a balance of £165,147 (2023: £377,668) was owed to a subsidiary of an associate of this company.

Pin Mill Limited (Registered number: 13699411)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. CONTROLLING PARTY

At the balance sheet date, the company was controlled by M Cohen.