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REGISTERED NUMBER: 04619856 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

MILLICHAMP LOGISTICS LIMITED

MILLICHAMP LOGISTICS LIMITED (REGISTERED NUMBER: 04619856)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MILLICHAMP LOGISTICS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2022







DIRECTORS: C S Millichamp
R W Millichamp
E J Millichamp





SECRETARY: C S Millichamp





REGISTERED OFFICE: Manor Court Chambers
Townsend Drive
Nuneaton
Warwickshire
CV11 6RU





BUSINESS ADDRESS: Unit 2 Netherwood Industrial Estate
Atherstone
Warwickshire
CV9 1JA





REGISTERED NUMBER: 04619856 (England and Wales)





ACCOUNTANTS: SFB Group Limited
Chartered Accountants
Manor Court Chambers
Townsend Drive
Nuneaton
Warwickshire
CV11 6RU

MILLICHAMP LOGISTICS LIMITED (REGISTERED NUMBER: 04619856)

BALANCE SHEET
31 May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 68,069 77,415
68,069 77,415

CURRENT ASSETS
Stocks 1,250 1,075
Debtors 6 901,537 766,851
Cash at bank and in hand 55,696 70,717
958,483 838,643
CREDITORS
Amounts falling due within one year 7 602,846 580,358
NET CURRENT ASSETS 355,637 258,285
TOTAL ASSETS LESS CURRENT LIABILITIES 423,706 335,700

CREDITORS
Amounts falling due after more than one year 8 (105,834 ) (136,250 )

PROVISIONS FOR LIABILITIES (9,937 ) -
NET ASSETS 307,935 199,450

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 306,935 198,450
SHAREHOLDERS' FUNDS 307,935 199,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2022 and were signed on its behalf by:



C S Millichamp - Director


MILLICHAMP LOGISTICS LIMITED (REGISTERED NUMBER: 04619856)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

Millichamp Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102.

Grants of a revenue nature are recognised in "other operating income" within Profit and Loss Account in the same period as the related expenditure.

This includes the Government Coronavirus Job Retention Scheme ("Furlough").

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MILLICHAMP LOGISTICS LIMITED (REGISTERED NUMBER: 04619856)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2021
and 31 May 2022 30,000
AMORTISATION
At 1 June 2021
and 31 May 2022 30,000
NET BOOK VALUE
At 31 May 2022 -
At 31 May 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2021 211,190
Additions 12,950
At 31 May 2022 224,140
DEPRECIATION
At 1 June 2021 133,775
Charge for year 22,296
At 31 May 2022 156,071
NET BOOK VALUE
At 31 May 2022 68,069
At 31 May 2021 77,415

MILLICHAMP LOGISTICS LIMITED (REGISTERED NUMBER: 04619856)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2022

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2021 37,900
Transfer to ownership (37,900 )
At 31 May 2022 -
DEPRECIATION
At 1 June 2021 21,911
Transfer to ownership (21,911 )
At 31 May 2022 -
NET BOOK VALUE
At 31 May 2022 -
At 31 May 2021 15,989

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 201,456 171,767
Other debtors 700,081 595,084
901,537 766,851

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 50,179 38,750
Hire purchase contracts - 8,561
Trade creditors 59,615 67,826
Taxation and social security 37,628 19,148
Other creditors 455,424 446,073
602,846 580,358

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 105,834 136,250

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary £1 1,000 1,000