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MILL LANE (STETCHWORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Mill Lane (Stetchworth) Limited ("The Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
These financial statements have been prepared on the going concern basis. The company incurred a loss of £1,045,552 during the period and net liabilities of £1,045,552 as at 30 September 2025 indicating that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.
As part of its going concern review, the director has followed the guidelines published by the
Financial Reporting Council entitled ''Guidance on the Going Concern Basis of Accounting and
Reporting on Solvency and Liquidity Risks''. The director has a reasonable expectation that the
company will have adequate resources to continue in operational existence for the foreseeable
future. Thus the director continue to adopt the going concern basis of accounting in preparing
theannual financial statements.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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