Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-282024-07-282023-07-292falseBuying and selling of own real estate2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10694839 2023-07-29 2024-07-28 10694839 2022-07-29 2023-07-28 10694839 2024-07-28 10694839 2023-07-28 10694839 2022-07-29 10694839 c:Director1 2023-07-29 2024-07-28 10694839 d:FreeholdInvestmentProperty 2023-07-29 2024-07-28 10694839 d:FreeholdInvestmentProperty 2024-07-28 10694839 d:FreeholdInvestmentProperty 2023-07-28 10694839 d:CurrentFinancialInstruments 2024-07-28 10694839 d:CurrentFinancialInstruments 2023-07-28 10694839 d:Non-currentFinancialInstruments 2024-07-28 10694839 d:Non-currentFinancialInstruments 2023-07-28 10694839 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-28 10694839 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-28 10694839 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-28 10694839 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-28 10694839 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-28 10694839 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-28 10694839 d:ShareCapital 2023-07-29 2024-07-28 10694839 d:ShareCapital 2024-07-28 10694839 d:ShareCapital 2022-07-29 2023-07-28 10694839 d:ShareCapital 2023-07-28 10694839 d:ShareCapital 2022-07-29 10694839 d:RetainedEarningsAccumulatedLosses 2023-07-29 2024-07-28 10694839 d:RetainedEarningsAccumulatedLosses 2024-07-28 10694839 d:RetainedEarningsAccumulatedLosses 2022-07-29 2023-07-28 10694839 d:RetainedEarningsAccumulatedLosses 2023-07-28 10694839 d:RetainedEarningsAccumulatedLosses 2022-07-29 10694839 c:FRS102 2023-07-29 2024-07-28 10694839 c:AuditExempt-NoAccountantsReport 2023-07-29 2024-07-28 10694839 c:FullAccounts 2023-07-29 2024-07-28 10694839 c:PrivateLimitedCompanyLtd 2023-07-29 2024-07-28 iso4217:GBP xbrli:pure

Registered number: 10694839









MILL LOFTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 JULY 2024

 
MILL LOFTS LIMITED
REGISTERED NUMBER: 10694839

BALANCE SHEET
AS AT 28 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,010,200
2,020,400

  
1,010,200
2,020,400

  

Creditors: amounts falling due within one year
 5 
(109,348)
(106,248)

Net current liabilities
  
 
 
(109,348)
 
 
(106,248)

Total assets less current liabilities
  
900,852
1,914,152

Creditors: amounts falling due after more than one year
 6 
(840,000)
(1,980,000)

  

Net assets/(liabilities)
  
60,852
(65,848)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
60,851
(65,849)

  
60,852
(65,848)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
MILL LOFTS LIMITED
REGISTERED NUMBER: 10694839
    
BALANCE SHEET (CONTINUED)
AS AT 28 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 July 2025.




Ms S L Honey
Director

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 
MILL LOFTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
1
(38,235)
(38,234)


Comprehensive income for the year

Loss for the year

-
(27,614)
(27,614)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(27,614)
(27,614)


Total transactions with owners
-
-
-



At 29 July 2023
1
(65,849)
(65,848)


Comprehensive income for the year

Profit for the year

-
126,700
126,700


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
126,700
126,700


Total transactions with owners
-
-
-


At 28 July 2024
1
60,851
60,852


The notes on pages 4 to 7 form part of these financial statements.
Page 3

 
MILL LOFTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England & Wales. The principal activity of the Company is the buying and selling of own real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
MILL LOFTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Investment property

Investment property is carried at fair value and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2

Page 5

 
MILL LOFTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

4.


Investment property


Freehold investment property

£


At 29 July 2023
2,020,400


Disposals
(1,010,200)



At 28 July 2024
1,010,200

There has been no valuation of investment property by an independent valuer.








5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,483
-

Amounts owed to related parties
33,347
50,820

Corporation tax
38,806
13,286

Other creditors
18,442
26,342

Accruals and deferred income
12,270
15,800

109,348
106,248



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
840,000
1,980,000

840,000
1,980,000


The loan is secured by a fixed charge over the Company's investment property.

Page 6

 
MILL LOFTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due in more than one year

Bank loans
840,000
1,980,000


840,000
1,980,000



840,000
1,980,000



8.


Related party transactions

Included in amounts owed by related parties is £133,352 (2023: £133,352) owed by Elephant & City Limited, £152,159 (2023: £169,632) owed to Bankside Group Limited and £14,540 (2023: £14,540) owed to Bankside Lofts Limited. These companies are related to the Company by common directorship and overlapping shareholding.


9.


Controlling party

The parent company is Elephant & City Limited, a company registered in England & Wales.
 
Page 7