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REGISTERED NUMBER: 08168801 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

FINMIL LTD

FINMIL LTD (REGISTERED NUMBER: 08168801)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINMIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mrs J Beecroft
R Beecroft





REGISTERED OFFICE: 6-8 Park Street
Wombwell
Barnsley
South Yorkshire
S73 0DJ





REGISTERED NUMBER: 08168801 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

FINMIL LTD (REGISTERED NUMBER: 08168801)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,005 39,463
Investments 5 1 1
Investment property 6 5,996,721 5,195,926
6,030,727 5,235,390

CURRENT ASSETS
Stocks 7 300,688 389,398
Debtors 8 245,828 105,451
Cash at bank and in hand 71,365 359,184
617,881 854,033
CREDITORS
Amounts falling due within one year 9 816,254 853,208
NET CURRENT (LIABILITIES)/ASSETS (198,373 ) 825
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,832,354

5,236,215

CREDITORS
Amounts falling due after more than one
year

10

(2,133,420

)

(2,207,572

)

PROVISIONS FOR LIABILITIES 12 (569,495 ) (443,073 )
NET ASSETS 3,129,439 2,585,570

CAPITAL AND RESERVES
Called up share capital 13 1 1
Fair value reserve 14 1,801,529 1,421,279
Retained earnings 14 1,327,909 1,164,290
SHAREHOLDERS' FUNDS 3,129,439 2,585,570

FINMIL LTD (REGISTERED NUMBER: 08168801)

BALANCE SHEET - continued
31 AUGUST 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:




Mrs J Beecroft - Director



R Beecroft - Director


FINMIL LTD (REGISTERED NUMBER: 08168801)

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

1. STATUTORY INFORMATION

Finmil 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.
Fixtures and fittings - 20% on reducing balance

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
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

FINMIL LTD (REGISTERED NUMBER: 08168801)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2023 80,961
Additions 2,790
At 31 August 2024 83,751
DEPRECIATION
At 1 September 2023 41,498
Charge for year 8,248
At 31 August 2024 49,746
NET BOOK VALUE
At 31 August 2024 34,005
At 31 August 2023 39,463

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 1
NET BOOK VALUE
At 31 August 2024 1
At 31 August 2023 1

This represents the cost of a 100% shareholding in Beecroft Hotels Limited.

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Beecroft Hotels Limited
Registered office: 6-8 Park Street. Wombwell, Barnsley, South Yorkshire, S73 0DJ
Nature of business: hoteliers
%
Class of shares: holding
Ordinary 100.00

FINMIL LTD (REGISTERED NUMBER: 08168801)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 5,195,926
Additions 293,795
Revaluations 507,000
At 31 August 2024 5,996,721
NET BOOK VALUE
At 31 August 2024 5,996,721
At 31 August 2023 5,195,926

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2017 640,698
Valuation in 2019 176,235
Valuation in 2020 181,181
Valuation in 2021 575,000
Valuation in 2022 259,864
Valuation in 2023 22,545
Valuation in 2024 507,000
Cost 3,634,198
5,996,721

Investment properties have been revalued by the directors based on currently available market data.

7. STOCKS
2024 2023
£    £   
Work-in-progress 300,688 389,398

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 24,014 8,013
Directors' current accounts 219,594 95,098
Prepayments 2,220 2,340
245,828 105,451

FINMIL LTD (REGISTERED NUMBER: 08168801)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 47,575 48,500
Trade creditors 4,176 5,213
Amounts owed to group undertakings 30,402 73,402
Tax 64,106 52,995
Social security and other taxes 164 444
Other creditors 661,441 665,323
Bonds 750 750
Accrued expenses 7,640 6,581
816,254 853,208

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 47,575 48,500
Bank loans - 2-5 years 2,085,845 2,159,072
2,133,420 2,207,572

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loans 2,180,995 2,228,572

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 569,495 443,073

Deferred
tax
£   
Balance at 1 September 2023 443,073
Movement during year 126,422
Balance at 31 August 2024 569,495

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

FINMIL LTD (REGISTERED NUMBER: 08168801)

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

14. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2023 1,164,290 1,421,279 2,585,569
Profit for the year 657,833 657,833
Dividends (113,964 ) (113,964 )
Transfer between reserves (507,000 ) 507,000 -
Deferred tax tfr in reserves 126,750 (126,750 ) -
At 31 August 2024 1,327,909 1,801,529 3,129,438

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mrs J Beecroft and R Beecroft
Balance outstanding at start of year 95,098 74,309
Amounts advanced 222,106 95,098
Amounts repaid (97,610 ) (74,309 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 219,594 95,098

16. RELATED PARTY DISCLOSURES

The company owed £481,151 (2023: £481,151) to Beecroft Estates Ltd and £180,290 (2023:£184,172) to BAW Estates Ltd and £30,402 (2023: £73,402) to Beecroft Hotels Ltd at the balance sheet date, from inter company lending.These companies are under the control of the directors.

17. ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of holding 100% of the share capital.