Batford Mill Investments Limited 30/09/2023 iXBRL

Batford Mill Investments Limited 30/09/2023 iXBRL

BATFORD MILL INVESTMENTS LIMITED - Company Information

Print Friendly Version

3 30/09/2023 2023-09-30 true false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-10-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01002868 2022-10-01 2023-09-30 01002868 2023-09-30 01002868 2021-10-01 2022-09-30 01002868 2022-09-30 01002868 bus:RegisteredOffice 2022-10-01 2023-09-30 01002868 bus:LeadAgentIfApplicable 2022-10-01 2023-09-30 01002868 bus:Director2 2022-10-01 2023-09-30 01002868 bus:Director4 2022-10-01 2023-09-30 01002868 bus:Director5 2022-10-01 2023-09-30 01002868 core:WithinOneYear 2023-09-30 01002868 core:WithinOneYear 2022-09-30 01002868 core:ShareCapital 2023-09-30 01002868 core:ShareCapital 2022-09-30 01002868 core:RetainedEarningsAccumulatedLosses 2023-09-30 01002868 core:RetainedEarningsAccumulatedLosses 2022-09-30 01002868 core:FinancialAssetsFairValue 2023-09-30 01002868 core:FinancialAssetsFairValue 2022-09-30 01002868 core:CostValuation core:Non-currentFinancialInstruments 2022-09-30 01002868 core:CostValuation core:Non-currentFinancialInstruments 2023-09-30 01002868 core:Non-currentFinancialInstruments 2023-09-30 01002868 core:Non-currentFinancialInstruments 2022-09-30 01002868 bus:SmallEntities 2022-10-01 2023-09-30 01002868 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 01002868 bus:FullAccounts 2022-10-01 2023-09-30 01002868 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 01002868 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30
Company registration number: 01002868
Batford Mill Investments Limited
Unaudited filleted financial statements
30 September 2023
Batford Mill Investments Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Batford Mill Investments Limited
Directors and other information
Directors Mrs S E Miller
Mrs L E Russell-Smith
Mrs S J Hill
Company number 01002868
Registered office 19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
Accountants Hardcastle Blake
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
Batford Mill Investments Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Batford Mill Investments Limited
Year ended 30th September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Batford Mill Investments Limited for the year ended 30th September 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Batford Mill Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Batford Mill Investments Limited and state those matters that we have agreed to state to the board of directors of Batford Mill Investments Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Batford Mill Investments Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Batford Mill Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Batford Mill Investments Limited. You consider that Batford Mill Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Batford Mill Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hardcastle Blake
ICAEW
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
17th May 2024
Batford Mill Investments Limited
Statement of financial position
30th September 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 5 1,355,923 1,311,357
___________ ___________
1,355,923 1,311,357
Current assets
Debtors 6 3,834 2,216
Cash at bank and in hand 130,522 127,965
___________ ___________
134,356 130,181
Creditors: amounts falling due
within one year 7 ( 158,317) ( 193,675)
___________ ___________
Net current liabilities ( 23,961) ( 63,494)
___________ ___________
Total assets less current liabilities 1,331,962 1,247,863
Provisions for liabilities ( 91,782) ( 83,314)
___________ ___________
Net assets 1,240,180 1,164,549
___________ ___________
Capital and reserves
Called up share capital 320,100 320,100
Profit and loss account 920,080 844,449
___________ ___________
Shareholders funds 1,240,180 1,164,549
___________ ___________
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 May 2024 , and are signed on behalf of the board by:
Mrs S E Miller Mrs L E Russell-Smith
Director Director
Company registration number: 01002868
Batford Mill Investments Limited
Notes to the financial statements
Year ended 30th September 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 19 New Road, Drayton Parslow, Milton Keynes, MK17 0JH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding VAT, of rental income during the year plus investment income on an arising basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Investments
Equity investments Investment properties Total
£ £ £
Cost
At 1st October 2022 401,357 910,000 1,311,357
Fair value adjustment 44,566 - 44,566
___________ ___________ ___________
At 30th September 2023 445,923 910,000 1,355,923
___________ ___________ ___________
Impairment
At 1st October 2022 and 30th September 2023 - - -
___________ ___________ ___________
Carrying amount
At 30th September 2023 445,923 910,000 1,355,923
___________ ___________ ___________
At 30th September 2022 401,357 910,000 1,311,357
___________ ___________ ___________
6. Debtors
2023 2022
£ £
Trade debtors 2,228 2,216
Other debtors 1,606 -
___________ ___________
3,834 2,216
___________ ___________
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 2,130 -
Corporation tax 5,664 5,390
Social security and other taxes 2,748 2,085
Other creditors 147,775 186,200
___________ ___________
158,317 193,675
___________ ___________
8. Financial instruments
2023 2022
£ £
Financial assets measured at fair value through profit or loss
Listed investments 445,923 401,357
Investment properties 910,000 910,000
___________ ___________
1,355,923 1,311,357
___________ ___________
9. Controlling party
In the directors' opinion no one individual held a controlling interest in the company at 30th September 2023.