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Registration number: 14134696

Spinning Mill 415 Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Spinning Mill 415 Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Spinning Mill 415 Ltd

(Registration number: 14134696)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

27,795

Current assets

 

Debtors

5

100

100

Creditors: Amounts falling due within one year

6

(28,948)

(28,708)

Net current liabilities

 

(28,848)

(28,608)

Net liabilities

 

(28,848)

(813)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(28,948)

(913)

Shareholders' deficit

 

(28,848)

(813)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 20 February 2025
 


Mr K Trewin
Director

 

Spinning Mill 415 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Court Farm House
Marhamchurch
Bude
Cornwall
EX23 0EN

Principal activity

The principal activity of the company is is that of self-catering holiday accommodation.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Spinning Mill 415 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

Nil

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2023

27,795

27,795

Disposals

(27,795)

(27,795)

At 31 May 2024

-

-

Depreciation

Carrying amount

At 31 May 2024

-

-

At 31 May 2023

27,795

27,795

Included within the net book value of land and buildings above is £Nil (2023 - £27,795) in respect of freehold land and buildings.
 

 

Spinning Mill 415 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

5

Debtors

2024
£

2023
£

Other debtors

100

100

100

100

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

420

Accruals and deferred income

240

480

Other creditors

28,708

27,808

28,948

28,708

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.