Company registration number 01486608 (England and Wales)
CARLTON MILL COMPANY LIMITED (THE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Ridehalgh Limited
Chartered Accountants
Ethos House
Ground Floor
4 York Street
Clitheroe
Lancashire
BB7 2DL
CARLTON MILL COMPANY LIMITED (THE)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CARLTON MILL COMPANY LIMITED (THE)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
51,181
60,213
Investment property
4
4,719,782
4,697,975
4,770,963
4,758,188
Current assets
Stocks
11,877
12,500
Debtors
192,381
159,055
Investments
403,652
405,297
Cash at bank and in hand
113,280
57,326
721,190
634,178
Creditors: amounts falling due within one year
5
(3,383,623)
(3,402,239)
Net current liabilities
(2,662,433)
(2,768,061)
Total assets less current liabilities
2,108,530
1,990,127
Creditors: amounts falling due after more than one year
6
(335,532)
(372,064)
Provisions for liabilities
(13,000)
(14,716)
Net assets
1,759,998
1,603,347
CARLTON MILL COMPANY LIMITED (THE)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
2024
2023
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,759,898
1,603,247
Total equity
1,759,998
1,603,347

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 June 2025 and are signed on its behalf by:
2025-06-18
Mrs S Dawson
Mr SR Dawson
Director
Director
Company Registration No. 01486608
CARLTON MILL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Carlton Mill Company Limited (The) is a private company limited by shares incorporated in England and Wales. The registered office is 56 King Street, Clitheroe, Lancashire, BB7 2EU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant, fixtures and fittings
15% per annum reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

CARLTON MILL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises all costs of purchase and the costs incurred in bringing the stock to its present location and condition. Provisions are made for obsolete and slow moving stock.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are recognised at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are recognised at amortised cost.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CARLTON MILL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
38
39
3
Tangible fixed assets
Total
£
Cost
At 1 January 2024 and 31 December 2024
300,686
Depreciation and impairment
At 1 January 2024
240,473
Depreciation charged in the year
9,032
At 31 December 2024
249,505
Carrying amount
At 31 December 2024
51,181
At 31 December 2023
60,213
CARLTON MILL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 January 2024
4,697,975
Additions
21,807
At 31 December 2024
4,719,782
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
36,153
28,544
Other borrowings
3,070,119
3,120,359
Trade creditors
50,569
36,516
Corporation tax
79,749
128,004
Other taxation and social security
28,083
43,713
Other creditors
55,549
1,200
Accruals and deferred income
63,401
43,903
3,383,623
3,402,239

The bank borrowings are secured by charges on the company's assets.

6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
335,532
372,064

The bank borrowings are secured by charges on the company's assets.

7
Related party transactions

The director, Mr S.R. Dawson, is also a director of R.E. Dawson Limited. During the year the company received loan finance from R.E. Dawson Limited and the balance owed as at 31 December 2024 was £3,070,119 (2023 : £3,120,360).

The company paid loan interest of £28,446 in respect of the balance due at 31 December 2024. There are no specific terms of repayment.

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