Company No: 04658228 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	3,022		4,028
Investment property	4	1,240,000		1,240,000
		1,243,022		1,244,028
Current assets
Stocks		31,001		38,001
Debtors	5	9,687		15,789
Cash at bank and in hand		1,798		4,507
		42,486		58,297
Creditors: amounts falling due within one year	6	( 20,824)		( 28,378)
Net current assets		21,662		29,919
Total assets less current liabilities		1,264,684		1,273,947
Creditors: amounts falling due after more than one year	7	( 1,421,205)		( 1,366,527)
Net liabilities		( 156,521)		( 92,580)
Capital and reserves
Called-up share capital		2		2
Revaluation reserve		500,000		500,000
Profit and loss account		( 656,523 )		( 592,582 )
Total shareholder's deficit		( 156,521)		( 92,580)

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Mill Grist Developments Limited (registered number: 04658228) were approved and authorised for issue by the Director on 26 November 2025. They were signed on its behalf by:

M J Uren Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mill Grist Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Burnthouse Cottages, Antron Hill, Mabe, Penryn, TR10 9HG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 March 2024	3,000		26,840		29,840
At 28 February 2025	3,000		26,840		29,840
Accumulated depreciation
At 01 March 2024	313		25,499		25,812
Charge for the financial year	671		335		1,006
At 28 February 2025	984		25,834		26,818
Net book value
At 28 February 2025	2,016		1,006		3,022
At 29 February 2024	2,687		1,341		4,028

4. Investment property

	Investment property
	£
Valuation
As at 01 March 2024	1,240,000
As at 28 February 2025	1,240,000

The investment properties were valued by the director on 29 February 2024.

5. Debtors

	2025		2024
	£		£
Trade debtors	2,399		7,590
Other debtors	7,288		8,199
	9,687		15,789

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	2,085		2,085
Trade creditors	6,314		4,518
Corporation tax	1,371		1,314
Other taxation and social security	7,304		17,011
Other creditors	3,750		3,450
	20,824		28,378

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	703,347		705,331
Other creditors	717,858		661,196
	1,421,205		1,366,527