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REGISTERED NUMBER: OC320856 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Old Mill Accountancy 2021 LLP

Old Mill Accountancy 2021 LLP (Registered number: OC320856)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Old Mill Accountancy 2021 LLP

General Information
for the Year Ended 30 June 2024







DESIGNATED MEMBERS: S M H Cole
P J Hodge
Old Mill Jackson Limited
J R G Stonehouse
I Carlson
A Vickery





REGISTERED OFFICE: Maltravers House
Petters Way
Yeovil
Somerset
BA20 1SH





REGISTERED NUMBER: OC320856 (England and Wales)






Old Mill Accountancy 2021 LLP (Registered number: OC320856)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £ £
CURRENT ASSETS
Debtors 4 717,833 1,028,240
Cash at bank 291 15,556
718,124 1,043,796
CREDITORS
Amounts falling due within one year 5 25,291 84,449
NET CURRENT ASSETS 692,833 959,347
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

692,833

959,347

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

692,833

958,294

MEMBERS' OTHER INTERESTS
Other reserves - 1,053
692,833 959,347

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 692,833 958,294
Members' other interests - 1,053
692,833 959,347

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 March 2025 and were signed by:



I Carlson - Designated member

Old Mill Accountancy 2021 LLP (Registered number: OC320856)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Old Mill Accountancy 2021 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships 2021 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

The LLP ceased to trade on the 25 October 2021 and consequently the financial statements are not prepared on a going concern basis. The financial statements have been prepared on a basis other than going concern.

Financial instruments
(i) Financial assets
Basic financial assets, other debtors, are initially recognised at the transaction price and therefore stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Old Mill Accountancy 2021 LLP (Registered number: OC320856)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Members’ participation rights
Members' participation rights are the right of a member against the LLP that arises under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remunerated and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective either a financial liability or equity. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amount arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Income Statement in the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than an expense. They are therefore shown as a residual amount available for discretionary division among members in the Income Statement and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Income Statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Member' other interests'.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

3. EMPLOYEE INFORMATION

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

4. DEBTORS
30.6.24 30.6.23
£ £
Amounts falling due within one year:
Other debtors 717,833 548,563

Amounts falling due after more than one year:
Other debtors - 479,677

Aggregate amounts 717,833 1,028,240

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Other creditors 25,291 84,449

Old Mill Accountancy 2021 LLP (Registered number: OC320856)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for legally enforceable protection afforded to creditors in such event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.