Company registration number 04196776 (England and Wales)
SOUTH MILL COUNTRY HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
SOUTH MILL COUNTRY HOMES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
4 - 10
SOUTH MILL COUNTRY HOMES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
79,693
73,336
Current assets
Stocks
237,641
425,704
Debtors
4
78,940
61,675
Cash at bank and in hand
69,677
1,111,056
386,258
1,598,435
Creditors: amounts falling due within one year
5
(374,654)
(181,779)
Net current assets
11,604
1,416,656
Total assets less current liabilities
91,297
1,489,992
Creditors: amounts falling due after more than one year
6
(23,970)
(7,854)
Net assets
67,327
1,482,138
Capital and reserves
Called up share capital
7
5
50
Capital redemption reserve
95
50
Profit and loss reserves
67,227
1,482,038
Total equity
67,327
1,482,138
SOUTH MILL COUNTRY HOMES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 9 June 2026 and are signed on its behalf by:
Mr A S Milner
Mr T K Milner
Director
Director
Company registration number 04196776 (England and Wales)
SOUTH MILL COUNTRY HOMES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 October 2023
50
50
1,539,767
1,539,867
Year ended 30 September 2024:
Loss and total comprehensive income
-
-
(55,729)
(55,729)
Dividends
-
-
(2,000)
(2,000)
Balance at 30 September 2024
50
50
1,482,038
1,482,138
Year ended 30 September 2025:
Profit and total comprehensive income
-
-
133,189
133,189
Own shares acquired
-
-
(1,548,000)
(1,548,000)
Redemption of shares
7
(45)
-
-
0
(45)
Other movements
-
45
-
45
Balance at 30 September 2025
5
95
67,227
67,327
SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -
1
Accounting policies
Company information

South Mill Country Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Europa Way, Britannia Enterprise Park, LICHFIELD, Staffordshire, United Kingdom, WS14 9TZ.

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
Turnover

Turnover represents invoices raised for work done in the year adjusted for amounts recoverable on contracts, excluding value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost 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:

Leasehold improvements
5 years straight line
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
15% on reducing balance
Computer equipment
3 years straight line
Motor vehicles
25% on 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.

SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). At 30 September 202 3 there was no indication of any impairment.

1.5
Stocks

Stock is valued at the lower of cost and new realisable value.

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.

1.6
Construction contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
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.

1.10
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.

SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less at a future date at rates expected to apply when they crystallise based on the current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computation in periods difference from those in which they are included in financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.12
Retirement benefits

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

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

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

2025
2024
Number
Number
Total
6
9
SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
3
Tangible fixed assets
Leasehold improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2024
32,305
427,396
459,701
Additions
-
0
52,223
52,223
Disposals
-
0
(61,264)
(61,264)
At 30 September 2025
32,305
418,355
450,660
Depreciation and impairment
At 1 October 2024
32,305
354,060
386,365
Depreciation charged in the year
-
0
27,190
27,190
Eliminated in respect of disposals
-
0
(42,588)
(42,588)
At 30 September 2025
32,305
338,662
370,967
Carrying amount
At 30 September 2025
-
0
79,693
79,693
At 30 September 2024
-
0
73,336
73,336
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
45,958
24,271
Other debtors
32,982
37,404
78,940
61,675
SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
7,886
10,334
Trade creditors
36,426
33,984
Taxation and social security
34,245
6,979
Other creditors
296,097
130,482
374,654
181,779
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
7,854
Other creditors
23,970
-
0
23,970
7,854
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
0
50
-
50
Ordinary shares of 1p each
500
0
5
-
0
500
50
5
50

During the year the company purchased and cancelled 4,500 of its own ordinary £0.01 shares from two shareholders, who where directors, for a total consideration of £1,548,000. The transaction was funded from distributable reserves.

8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

SOUTH MILL COUNTRY HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
8
Related party transactions
(Continued)
- 10 -

Other creditors includes a loan from AKS Properties Ltd, company in which S B Milner (father of director) is 100% shareholder, of £nil (202 4 £71,530). This loan is interest free with no fixed date for repayment.

Other creditors includes a loan from Mr A Milner, director, of £285,000 (202 4 £50,000). This loan is interest free with no fixed date for repayment.

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