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REGISTERED NUMBER: 01902086 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

ABBEY MILLS LIMITED

ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABBEY MILLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: S G Smith
J A Smith





SECRETARY: J A Smith





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





REGISTERED NUMBER: 01902086 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 327 409
Investment property 5 1,000,000 1,000,000
1,000,327 1,000,409

CURRENT ASSETS
Debtors 6 8,151 7,418
Cash at bank 252,780 264,962
260,931 272,380
CREDITORS
Amounts falling due within one year 7 38,887 30,683
NET CURRENT ASSETS 222,044 241,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,222,371

1,242,106

PROVISIONS FOR LIABILITIES 172,360 172,381
NET ASSETS 1,050,011 1,069,725

CAPITAL AND RESERVES
Called up share capital 9,751 9,751
Share premium 6,250 6,250
Retained earnings 1,034,010 1,053,724
SHAREHOLDERS' FUNDS 1,050,011 1,069,725

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086)

BALANCE SHEET - continued
31 JULY 2024


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 10 November 2024 and were signed on its behalf by:




S G Smith - Director



J A Smith - Director


ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Abbey Mills 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 the provision of section 1A "Small entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 net invoiced rentals during the period under review, excluding value added tax.

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

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the revaluation is transferred to other comprehensive income as required by FRS 102 Section 1A.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost 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.

Going concern
In the opinion of the directors there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Provisons
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023
and 31 July 2024 23,696
DEPRECIATION
At 1 August 2023 23,287
Charge for year 82
At 31 July 2024 23,369
NET BOOK VALUE
At 31 July 2024 327
At 31 July 2023 409

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,000,000
NET BOOK VALUE
At 31 July 2024 1,000,000
At 31 July 2023 1,000,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2010 1,260,000
Valuation in 2018 (645,000 )
Valuation in 2022 385,000
1,000,000

ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,552 4,233
Prepayments and accrued income 3,599 3,185
8,151 7,418

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 852 -
Corporation Tax 24,744 15,566
VAT 6,737 6,366
Directors' loan accounts 503 1,391
Accruals & Deferred Income 6,051 7,360
38,887 30,683

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
S G Smith and J A Smith
Balance outstanding at start of year (1,391 ) (2,030 )
Amounts advanced 8,695 639
Amounts repaid (7,807 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (503 ) (1,391 )

The above loan is due to be repaid within 12 months. Interest has been charged at the appropriate HMRC rate.

9. CHARGES

On 14 February 1994, Midland Bank PLC registered a fixed charge over the goodwill and uncalled capital of the business.

On 11 June 1993, Midland Bank PLC registered a legal charge over the undertaking of the business.

On 9 May 1985, Midland Bank PLC registered a fixed and floating charge over the business undertaking and all property and asses present and future.