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REGISTERED NUMBER: 07945312 (England and Wales)















MILL HILL FARM (RETFORD) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






MILL HILL FARM (RETFORD) LIMITED (REGISTERED NUMBER: 07945312)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


MILL HILL FARM (RETFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: N J Greenhalgh
R J Greenhalgh
T D Greenhalgh





REGISTERED OFFICE: 14 London Road
Newark
Nottinghamshire
NG24 1TW





REGISTERED NUMBER: 07945312 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

MILL HILL FARM (RETFORD) LIMITED (REGISTERED NUMBER: 07945312)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 1,021,624 953,872
1,021,624 953,872

CURRENT ASSETS
Inventories 270,789 533,093
Debtors 6 266,465 266,906
537,254 799,999
CREDITORS
Amounts falling due within one year 7 673,731 924,369
NET CURRENT LIABILITIES (136,477 ) (124,370 )
TOTAL ASSETS LESS CURRENT LIABILITIES 885,147 829,502

CREDITORS
Amounts falling due after more than one year 8 (638,261 ) (615,177 )

PROVISIONS FOR LIABILITIES (172,807 ) (131,457 )
NET ASSETS 74,079 82,868

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 73,979 82,768
SHAREHOLDERS' FUNDS 74,079 82,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:



N J Greenhalgh - Director


MILL HILL FARM (RETFORD) LIMITED (REGISTERED NUMBER: 07945312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Mill Hill Farm (Retford) 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 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of nil years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Inventories are valued at the lower of cost and fair value costs to complete and sell, 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.

MILL HILL FARM (RETFORD) LIMITED (REGISTERED NUMBER: 07945312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of those obligations is charged to profit or loss over the relevant period. The capital element if the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 20,000 9,681 29,681
AMORTISATION
At 1 July 2023
and 30 June 2024 20,000 9,681 29,681
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 152,077 1,306,163 1,458,240
Additions 75,000 78,910 153,910
At 30 June 2024 227,077 1,385,073 1,612,150
DEPRECIATION
At 1 July 2023 - 504,368 504,368
Charge for year - 86,158 86,158
At 30 June 2024 - 590,526 590,526
NET BOOK VALUE
At 30 June 2024 227,077 794,547 1,021,624
At 30 June 2023 152,077 801,795 953,872


MILL HILL FARM (RETFORD) LIMITED (REGISTERED NUMBER: 07945312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,144 51,114
Other debtors 209,321 215,792
266,465 266,906

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 314,211 101,056
Hire purchase contracts 119,763 91,390
Trade creditors 93,650 567,303
Taxation and social security 18,771 53,490
Other creditors 127,336 111,130
673,731 924,369

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 332,435 366,822
Hire purchase contracts 305,826 248,355
638,261 615,177

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 159,225 183,668

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A 1 40 40
40 Ordinary B 1 40 40
20 Ordinary C 1 20 20
100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
N J Greenhalgh and R J Greenhalgh
Balance outstanding at start of year 74,593 151,081
Amounts advanced 103,238 297,344
Amounts repaid (73,168 ) (373,832 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 104,663 74,593