IRIS Accounts Production v25.1.0.734 09477636 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094776362023-03-31094776362024-03-31094776362023-04-012024-03-31094776362022-03-31094776362022-04-012023-03-31094776362023-03-3109477636ns15:EnglandWales2023-04-012024-03-3109477636ns14:PoundSterling2023-04-012024-03-3109477636ns10:Director12023-04-012024-03-3109477636ns10:Director22023-04-012024-03-3109477636ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109477636ns10:SmallEntities2023-04-012024-03-3109477636ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109477636ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109477636ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109477636ns10:FullAccounts2023-04-012024-03-3109477636ns10:Director32023-04-012024-03-3109477636ns10:RegisteredOffice2023-04-012024-03-3109477636ns5:CurrentFinancialInstruments2024-03-3109477636ns5:CurrentFinancialInstruments2023-03-3109477636ns5:Non-currentFinancialInstruments2024-03-3109477636ns5:Non-currentFinancialInstruments2023-03-3109477636ns5:ShareCapital2024-03-3109477636ns5:ShareCapital2023-03-3109477636ns5:RetainedEarningsAccumulatedLosses2024-03-3109477636ns5:RetainedEarningsAccumulatedLosses2023-03-3109477636ns5:PlantMachinery2023-04-012024-03-3109477636ns5:MotorVehicles2023-04-012024-03-3109477636ns5:PlantMachinery2023-03-3109477636ns5:MotorVehicles2023-03-3109477636ns5:PlantMachinery2024-03-3109477636ns5:MotorVehicles2024-03-3109477636ns5:PlantMachinery2023-03-3109477636ns5:MotorVehicles2023-03-3109477636ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3109477636ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3109477636ns5:LeasedAssetsHeldAsLessee2023-03-3109477636ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3109477636ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3109477636ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3109477636ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3109477636ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3109477636ns5:LeasedAssetsHeldAsLessee2024-03-3109477636ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3109477636ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3109477636ns5:LeasedAssetsHeldAsLessee2023-03-3109477636ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3109477636ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3109477636ns5:Secured2024-03-3109477636ns5:Secured2023-03-31
REGISTERED NUMBER: 09477636 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MILL LANE ASSET MANAGEMENT (CROYDON) LTD

MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MILL LANE ASSET MANAGEMENT (CROYDON) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D J Payne
J J Payne
S W Woods





REGISTERED OFFICE: 3 Blacklands Crescent
Forest Row
East Sussex
RH18 5NN





REGISTERED NUMBER: 09477636 (England and Wales)





ACCOUNTANTS: Charles Lamb
Chartered Accountants
3 Blacklands Crescent
Forest Row
East Sussex
RH18 5NN

MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 276,248 333,635
Investment property 5 800,000 750,000
1,076,248 1,083,635

CURRENT ASSETS
Debtors 6 95,511 39,158
Cash at bank 21,523 25,978
117,034 65,136
CREDITORS
Amounts falling due within one year 7 444,520 359,246
NET CURRENT LIABILITIES (327,486 ) (294,110 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

748,762

789,525

CREDITORS
Amounts falling due after more than one
year

8

(316,273

)

(390,534

)

PROVISIONS FOR LIABILITIES (131,074 ) (99,562 )
NET ASSETS 301,415 299,429

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 301,115 299,129
SHAREHOLDERS' FUNDS 301,415 299,429

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 14 May 2025 and were signed on its behalf by:




D J Payne - Director



J J Payne - Director


MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)

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

1. STATUTORY INFORMATION

Mill Lane Asset Management (Croydon) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 10% 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)

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

2. ACCOUNTING POLICIES - continued

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

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 227,824 325,975 553,799
Additions 13,000 - 13,000
Disposals - (30,000 ) (30,000 )
At 31 March 2024 240,824 295,975 536,799
DEPRECIATION
At 1 April 2023 115,669 104,495 220,164
Charge for year 22,789 29,598 52,387
Eliminated on disposal - (12,000 ) (12,000 )
At 31 March 2024 138,458 122,093 260,551
NET BOOK VALUE
At 31 March 2024 102,366 173,882 276,248
At 31 March 2023 112,155 221,480 333,635

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 172,250 215,975 388,225
Additions 13,000 - 13,000
Transfer to ownership (16,000 ) (75,000 ) (91,000 )
At 31 March 2024 169,250 140,975 310,225
DEPRECIATION
At 1 April 2023 71,313 60,495 131,808
Charge for year 13,562 21,598 35,160
Transfer to ownership (16,000 ) (30,000 ) (46,000 )
At 31 March 2024 68,875 52,093 120,968
NET BOOK VALUE
At 31 March 2024 100,375 88,882 189,257
At 31 March 2023 100,937 155,480 256,417

MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 750,000
Revaluations 50,000
At 31 March 2024 800,000
NET BOOK VALUE
At 31 March 2024 800,000
At 31 March 2023 750,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 7,078
Valuation in 2020 (1,507 )
Valuation in 2021 15,000
Valuation in 2022 3,177
Valuation in 2023 210,000
Valuation in 2024 50,000
Cost 516,252
800,000

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

2024 2023
£    £   
Cost 516,252 516,252

Investment property was valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 76,516 5,000
Other debtors 18,995 34,158
95,511 39,158

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,483 10,520
Hire purchase contracts 63,298 87,437
Trade creditors 5,557 5,213
Taxation and social security 14,648 421
Other creditors 347,534 255,655
444,520 359,246

MILL LANE ASSET MANAGEMENT (CROYDON) LTD (REGISTERED NUMBER: 09477636)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 246,693 258,901
Hire purchase contracts 47,750 101,947
Other creditors 21,830 29,686
316,273 390,534

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 192,453 212,024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 258,813 269,421

On 16 February 2016 the company granted a debenture in favour of HSBC Bank Plc over all its present and future assets by way of a fixed and floating charge over all assets. On 24 October 2016 the company granted a legal mortgage in favour of HSBC Bank Plc over its freehold and leasehold investment properties.

10. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £113,290 due to Henry Woods Waste Management Limited, a company registered in England with common shareholders and directors. The loan is interest free, unsecured and repayable on demand.

During the period, the company charged Henry Woods Waste Management Limited £124,200 for plant, machinery and vehicle hire, £Nil for management services and £36,000 in respect of rent on the company's trading premises. At 31 March 2024 there was £29,860 due to the company in respect of these services, which is included in trade debtors. An amount of £6,670 was charged by Henry Woods Waste Management Ltd for skip services and £792 of this is outstanding at 31 March 2024 and is included in trade creditors.