IRIS Accounts Productionv24.1.0.57807574577Board of Directors1.4.2331.3.2431.3.24falsetruefalsefalsetruefalseFair value modelOrdinary A1.00000Ordinary B1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075745772023-03-31075745772024-03-31075745772023-04-012024-03-31075745772022-03-31075745772022-04-012023-03-31075745772023-03-3107574577ns15:EnglandWales2023-04-012024-03-3107574577ns14:PoundSterling2023-04-012024-03-3107574577ns10:Director12023-04-012024-03-3107574577ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107574577ns10:SmallEntities2023-04-012024-03-3107574577ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107574577ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107574577ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107574577ns10:FullAccounts2023-04-012024-03-3107574577ns10:OrdinaryShareClass12023-04-012024-03-3107574577ns10:OrdinaryShareClass22023-04-012024-03-3107574577ns10:Director22023-04-012024-03-3107574577ns10:Director32023-04-012024-03-3107574577ns10:CompanySecretary12023-04-012024-03-3107574577ns10:RegisteredOffice2023-04-012024-03-3107574577ns5:CurrentFinancialInstruments2024-03-3107574577ns5:CurrentFinancialInstruments2023-03-3107574577ns5:ShareCapital2024-03-3107574577ns5:ShareCapital2023-03-3107574577ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3107574577ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3107574577ns5:RetainedEarningsAccumulatedLosses2024-03-3107574577ns5:RetainedEarningsAccumulatedLosses2023-03-3107574577ns5:FurnitureFittings2023-04-012024-03-3107574577ns5:ComputerEquipment2023-04-012024-03-3107574577ns5:FurnitureFittings2023-03-3107574577ns5:ComputerEquipment2023-03-3107574577ns5:FurnitureFittings2024-03-3107574577ns5:ComputerEquipment2024-03-3107574577ns5:FurnitureFittings2023-03-3107574577ns5:ComputerEquipment2023-03-3107574577ns5:DeferredTaxation2023-03-3107574577ns5:DeferredTaxation2023-04-012024-03-3107574577ns5:DeferredTaxation2024-03-3107574577ns10:OrdinaryShareClass12024-03-3107574577ns10:OrdinaryShareClass22024-03-3107574577ns5:RetainedEarningsAccumulatedLosses2023-03-3107574577ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3107574577ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31

REGISTERED NUMBER: 07574577 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR


NUTCLOUGH MILL LIMITED


NUTCLOUGH MILL LIMITED (REGISTERED NUMBER: 07574577)







CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

3




NUTCLOUGH MILL LIMITED


COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2024









DIRECTORS:

D S Jagger


T D Jagger


Mrs R L Woodward







SECRETARY:

D S Jagger







REGISTERED OFFICE:

12 Market Street


Hebden Bridge


HX7 6AD







REGISTERED NUMBER:

07574577 (England and Wales)







ACCOUNTANTS:

Cresswells


12 Market Street


Hebden Bridge


West Yorkshire


HX7 6AD


NUTCLOUGH MILL LIMITED (REGISTERED NUMBER: 07574577)


BALANCE SHEET

31ST MARCH 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

2,931


3,663



Investment property

5

3,561,294


3,561,294



3,564,225


3,564,957




CURRENT ASSETS

Debtors

6

2,966


2,798



Cash at bank and in hand

928,164


748,572



931,130


751,370



CREDITORS

Amounts falling due within one year

7

1,628,668


1,490,604



NET CURRENT LIABILITIES

(697,538

)

(739,234

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

2,866,687


2,825,723




PROVISIONS FOR LIABILITIES

9

104,055


103,871



NET ASSETS

2,762,632


2,721,852




CAPITAL AND RESERVES

Called up share capital

10

40


40



Fair value reserve

11

592,149


592,149



Retained earnings

11

2,170,443


2,129,663



SHAREHOLDERS' FUNDS

2,762,632


2,721,852




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2024 and were signed on its behalf by:





T D Jagger - Director



NUTCLOUGH MILL LIMITED (REGISTERED NUMBER: 07574577)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024


1.

STATUTORY INFORMATION



Nutclough 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.


The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.    



Turnover


Turnover represents rents receivable.



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Fixtures and fittings

-

20% on reducing balance


Computer equipment

-

over 3 years



Investment property


Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. No depreciation is provided on investment properties.



Depreciation is not provided in respect of investment properties. This treatment is a departure from the Companies Act 2006 concerning the depreciation of fixed assets. However,such properties are not held for consumption but for investment and the directors consider systematic annual depreciation would be inappropriate  and that this policy is necessary for the accounts to show a true and fair view. Depreciation is only one of many factors reflected in the valuation and the amount which may otherwise have been shown cannot be separately identified or quantified.



Taxation

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


NUTCLOUGH MILL LIMITED (REGISTERED NUMBER: 07574577)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2024


2.

ACCOUNTING POLICIES - continued



Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 3 (2023 - 3 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures



and


Computer



fittings


equipment


Totals

£   

£   

£   



COST


At 1st April 2023


and 31st March 2024

11,178


1,687


12,865




DEPRECIATION


At 1st April 2023

7,516


1,686


9,202




Charge for year

732


-


732




At 31st March 2024

8,248


1,686


9,934




NET BOOK VALUE


At 31st March 2024

2,930


1


2,931




At 31st March 2023

3,662


1


3,663




5.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1st April 2023


and 31st March 2024

3,561,294




NET BOOK VALUE


At 31st March 2024

3,561,294




At 31st March 2023

3,561,294





Fair value at 31st March 2024 is represented by:

£   



Valuation in 2017

19,879




Valuation in 2018

439,872




Valuation in 2021

189,998




Valuation in 2022

(1,121

)



Cost

2,912,666



3,561,294





If investment properties had not been revalued they would have been included at the following historical cost:


2024

2023


£   

£   



Cost

2,912,666


2,912,666





Investment properties were valued on an open market basis on 31st March 2024 by the directors .


NUTCLOUGH MILL LIMITED (REGISTERED NUMBER: 07574577)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2024


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Prepayments and accrued income

2,966


2,798




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade creditors

27,912


15,422




Tax

36,672


81,281




VAT

23,071


13,811




Other creditors

1,350,000


1,298,000




Accrued expenses

191,013


82,090



1,628,668


1,490,604




8.

SECURED DEBTS



The bank overdraft is secured by a registration of charge dated 18th September 2018 from Handelsbanken with a fixed and floating charge over the companys assets.


9.

PROVISIONS FOR LIABILITIES

2024

2023


£   

£   



Deferred tax

104,055


103,871





Deferred



tax


£   



Balance at 1st April 2023

103,871




Provided during year

184




Balance at 31st March 2024

104,055




10.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2024

2023



value:

£   

£   



19

Ordinary A

£1

19


19




21

Ordinary B

£1

21


21



40


40




11.

RESERVES


Fair



Retained


value



earnings


reserve


Totals

£   

£   

£   




At 1st April 2023

2,129,663


592,149


2,721,812




Profit for the year

115,640


115,640




Dividends

(74,860

)

(74,860

)



At 31st March 2024

2,170,443


592,149


2,762,592




NUTCLOUGH MILL LIMITED (REGISTERED NUMBER: 07574577)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2024


12.

RELATED PARTY DISCLOSURES



Other creditors include the following loans:



D S Jagger Settlement Number 1 - £338,000 (2023 - £325,000)



A S Jagger Settlement Number 1 - £338,000  (2023 - £325,000) .



D S Jagger Settlement No 2 - £337,000, (2023 - £324,000)



A S Jagger Settlement No 2 - £337,000, (2023 - £324,000 )




During the year the company was charged interest of £16,250 by each Settlement (2023 - £16,250 each) . The directors are Trustees of the Settlements.