Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-01false55209 - Other holiday and other collective accommodation00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12040745 2024-03-01 2025-02-28 12040745 2025-02-28 12040745 2023-03-01 2024-02-29 12040745 2024-02-29 12040745 c:Director1 2024-03-01 2025-02-28 12040745 d:Buildings 2024-03-01 2025-02-28 12040745 d:Buildings 2025-02-28 12040745 d:Buildings 2024-02-29 12040745 d:Buildings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 12040745 d:FurnitureFittings 2024-03-01 2025-02-28 12040745 d:FurnitureFittings 2025-02-28 12040745 d:FurnitureFittings 2024-02-29 12040745 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 12040745 d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 12040745 d:FreeholdInvestmentProperty 2025-02-28 12040745 d:FreeholdInvestmentProperty 3 2024-03-01 2025-02-28 12040745 d:CurrentFinancialInstruments 2025-02-28 12040745 d:CurrentFinancialInstruments 2024-02-29 12040745 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 12040745 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12040745 d:ShareCapital 2025-02-28 12040745 d:ShareCapital 2024-02-29 12040745 d:RetainedEarningsAccumulatedLosses 2025-02-28 12040745 d:RetainedEarningsAccumulatedLosses 2024-02-29 12040745 c:OrdinaryShareClass1 2024-03-01 2025-02-28 12040745 c:OrdinaryShareClass1 2025-02-28 12040745 c:OrdinaryShareClass1 2024-02-29 12040745 c:FRS102 2024-03-01 2025-02-28 12040745 c:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 12040745 c:FullAccounts 2024-03-01 2025-02-28 12040745 c:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 12040745 2 2024-03-01 2025-02-28 12040745 f:PoundSterling 2024-03-01 2025-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12040745













Idle Mill Limited

Financial statements
Information for filing with the registrar

28 February 2025




 
Idle Mill Limited


Balance sheet
At 28 February 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,928
720,804

Investment property
 5 
711,566
-

  
718,494
720,804

Current assets
  

Cash at bank and in hand
  
25,342
34,347

  
25,342
34,347

Creditors: amounts falling due within one year
 6 
(581,787)
(617,392)

Net current liabilities
  
 
 
(556,445)
 
 
(583,045)

Total assets less current liabilities
  
162,049
137,759

Provisions for liabilities
  

Deferred tax
  
(2,485)
(2,900)

Net assets
  
159,564
134,859


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
159,563
134,858

Shareholders' funds
  
159,564
134,859


1

 
Idle Mill Limited

    
Balance sheet (continued)
At 28 February 2025

The director considers 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 director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 July 2025.




Lyn Dayson
Director

Company registered number: 12040745
The notes on pages 3 to 6 form part of these financial statements. 

2

 
Idle Mill Limited
 
 

Notes to the financial statements
Year ended 28 February 2025

1.


General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE. 

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue from holiday lettings is recognised over the period in which the accommodation is provided. For bookings received in advance, revenue is deferred and recognised as income over the rental period.
Revenue is measured at the fair value of the consideration received or receivable, net of any discounts or rebates offered.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3

 
Idle Mill Limited
 

 
Notes to the financial statements
Year ended 28 February 2025

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets excluding property are reported under the cost model at their historical cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance method

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and 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.


3.


Employees

The company has no employees other than the director, who did not receive any remuneration.

4

 
Idle Mill Limited
 
 

Notes to the financial statements
Year ended 28 February 2025

4.


Tangible fixed assets







Freehold property
Fixtures and fittings
Total

£
£
£



Cost 


At 1 March 2024
711,566
30,928
742,494


Transfers between classes
(711,566)
-
(711,566)



At 28 February 2025

-
30,928
30,928



Depreciation


At 1 March 2024
-
21,690
21,690


Charge for the year
-
2,310
2,310



At 28 February 2025

-
24,000
24,000



Net book value



At 28 February 2025
-
6,928
6,928



At 29 February 2024
711,566
9,238
720,804


5.


Investment property





Freehold investment property

£



Valuation


Transfers between classes
711,566



At 28 February 2025
711,566







5

 
Idle Mill Limited
 
 

Notes to the financial statements
Year ended 28 February 2025

6.


Creditors: amounts falling due within one year

28 February
29 February
2025
2024
£
£

Amounts owed to group undertakings
568,800
603,800

Corporation tax
8,702
9,148

Other creditors
2,613
2,613

Accruals and deferred income
1,672
1,831

581,787
617,392



7.


Share capital

28 February
29 February
2025
2024
£
£
Allotted, called up and fully paid



1 (2024 : 1) Ordinary share of £1.00
1
1



8.


Controlling party

The ultimate controlling party for the company was Stateplus Limited, a company registered in England and Wales as the parent company.

 
6