IRIS Accounts Production v24.3.0.553 06099367 director 1.3.23 29.2.24 29.2.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh060993672023-02-28060993672024-02-29060993672023-03-012024-02-29060993672022-02-28060993672022-03-012023-02-28060993672023-02-2806099367ns15:EnglandWales2023-03-012024-02-2906099367ns14:PoundSterling2023-03-012024-02-2906099367ns10:Director12023-03-012024-02-2906099367ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2906099367ns10:SmallEntities2023-03-012024-02-2906099367ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2906099367ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2906099367ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2906099367ns10:FullAccounts2023-03-012024-02-2906099367ns10:CompanySecretary12023-03-012024-02-2906099367ns10:RegisteredOffice2023-03-012024-02-2906099367ns5:CurrentFinancialInstruments2024-02-2906099367ns5:CurrentFinancialInstruments2023-02-2806099367ns5:Non-currentFinancialInstruments2024-02-2906099367ns5:Non-currentFinancialInstruments2023-02-2806099367ns5:ShareCapital2024-02-2906099367ns5:ShareCapital2023-02-2806099367ns5:RetainedEarningsAccumulatedLosses2024-02-2906099367ns5:RetainedEarningsAccumulatedLosses2023-02-2806099367ns5:LeaseholdImprovements2023-03-012024-02-2906099367ns5:PlantMachinery2023-03-012024-02-2906099367ns5:ComputerEquipment2023-03-012024-02-2906099367ns5:LandBuildings2023-02-2806099367ns5:LeaseholdImprovements2023-02-2806099367ns5:PlantMachinery2023-02-2806099367ns5:ComputerEquipment2023-02-2806099367ns5:LandBuildings2023-03-012024-02-2906099367ns5:LandBuildings2024-02-2906099367ns5:LeaseholdImprovements2024-02-2906099367ns5:PlantMachinery2024-02-2906099367ns5:ComputerEquipment2024-02-2906099367ns5:LandBuildings2023-02-2806099367ns5:LeaseholdImprovements2023-02-2806099367ns5:PlantMachinery2023-02-2806099367ns5:ComputerEquipment2023-02-2806099367ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2906099367ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2806099367ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2906099367ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2806099367ns5:Secured2024-02-2906099367ns5:Secured2023-02-28
REGISTERED NUMBER: 06099367 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Old Mill Wood Yard Ltd

Old Mill Wood Yard Ltd (Registered number: 06099367)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Old Mill Wood Yard Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: C J Picknett





SECRETARY: C J Picknett





REGISTERED OFFICE: 4 Frogmore Street
Laugharne
Carmarthenshire
SA33 4SX





REGISTERED NUMBER: 06099367 (England and Wales)





ACCOUNTANTS: Eagle Accountancy (UK) Limited
2 Coracle Offices
St Catherine Street
Carmarthen
Carmarthenshire
SA31 1RD

Old Mill Wood Yard Ltd (Registered number: 06099367)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 450,080 563,425
Investment property 5 280,000 260,000
730,080 823,425

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 6 57,164 62,186
Cash at bank 196,066 26,242
256,230 91,428
CREDITORS
Amounts falling due within one year 7 103,610 52,102
NET CURRENT ASSETS 152,620 39,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

882,700

862,751

CREDITORS
Amounts falling due after more than one year 8 (362,188 ) (405,859 )

PROVISIONS FOR LIABILITIES (43,770 ) (54,554 )
NET ASSETS 476,742 402,338

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 475,742 401,338
SHAREHOLDERS' FUNDS 476,742 402,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 November 2024 and were signed by:





C J Picknett - Director


Old Mill Wood Yard Ltd (Registered number: 06099367)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Old Mill Wood Yard Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS (INC PART TIME)

The average number of employees during the year was 2 (2023 - 1 ) .

Old Mill Wood Yard Ltd (Registered number: 06099367)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Computer
property property machinery equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 275,000 12,068 472,845 3,733 763,646
Disposals - - (101,950 ) - (101,950 )
At 29 February 2024 275,000 12,068 370,895 3,733 661,696
DEPRECIATION
At 1 March 2023 - 10,768 185,720 3,733 200,221
Charge for year - 650 37,089 - 37,739
Eliminated on disposal - - (26,344 ) - (26,344 )
At 29 February 2024 - 11,418 196,465 3,733 211,616
NET BOOK VALUE
At 29 February 2024 275,000 650 174,430 - 450,080
At 28 February 2023 275,000 1,300 287,125 - 563,425

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 260,000
Revaluations 20,000
At 29 February 2024 280,000
NET BOOK VALUE
At 29 February 2024 280,000
At 28 February 2023 260,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 55,363
Valuation in 2023 35,000
Valuation in 2024 20,000
Cost 169,637
280,000

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 169,637 169,637

Investment Property was valued on an open market basis on 28 February 2024 by a 'Fair Value' opinion of the directors .

Old Mill Wood Yard Ltd (Registered number: 06099367)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 53,933 58,957
Other debtors 3,231 3,229
57,164 62,186

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 38,178 38,432
Trade creditors 3,595 1,349
Taxation and social security 56,852 4,104
Other creditors 4,985 8,217
103,610 52,102

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 129,283 141,191
Other creditors 232,905 264,668
362,188 405,859

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 232,905 264,668

Repayable by instalments
Bank loans more 5 yr by instal 129,283 141,191

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 167,461 179,623

Barclays bank has a fixed and floating charge over the assets of the company dated 29 July 2016. In addition, on 1 December 2016 Barclays Bank also has a charge over the company's land and property know as The Old Mill Woodyard.