| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| RUSKIN MILL LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| RUSKIN MILL LIMITED |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| RUSKIN MILL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Eden House |
| Two Rivers Business Park |
| Witney |
| Oxfordshire |
| OX28 4BL |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| BALANCE SHEET |
| 31 OCTOBER 2024 |
| 31.10.24 | 31.10.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| RESERVES |
| Revaluation reserve |
| Income and expenditure account |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2024 |
| The director acknowledges his 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 surplus or deficit 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 were approved by the director and authorised for issue on |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Ruskin Mill Limited is a |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Fixtures and fittings | - |
| 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 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. |
| Investment property and fixtures |
| No depreciation is provided on freehold land and buildings and fixtures and fittings as they are considered to be investments and thus included in the accounts at open market value. This represents a departure from the Companies Act 2006, in order to give a true and fair view. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 November 2023 |
| and 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Land and buildings comprise investment properties which have been valued by the directors on the basis of the open market values with current use as at 31 October 2024. |
| Cost or valuation at 31 October 2024 is represented by: |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 2009 | 796,162 | - | - | 796,162 |
| Valuation in 2010 | 18,845 | - | - | 18,845 |
| Cost | 374,993 | 87,961 | 5,700 | 468,654 |
| 1,190,000 | 87,961 | 5,700 | 1,283,661 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 22,929 | 26,047 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Accruals and deferred income |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 185,105 | 197,973 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Bank loans |
| Triodos Bank NV have a legal charge dated 10 July 1997 and a legal mortgage dated 20 August 2010 over the freehold property known as Ruskin Mill, Nailsworth, Gloucester GL6 0LA. |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Deferred tax | 154,851 | 154,851 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2023 |
| Balance at 31 October 2024 |
| The deferred tax liability relates to the potential tax due on the revaluation of the freehold property. |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023: |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| RUSKIN MILL LIMITED (REGISTERED NUMBER: 03108944) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 11. | COMPANY LIMITED BY GUARANTEE |
| The company is limited by guarantee, and the liability of every member for payment of the debts of the company is limited, in the event of the same being wound up while he or she is still a member or within one year after ceasing to be a member, to such sum as may be required not exceeding £1. |