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REGISTERED NUMBER: 05703992










MILLENNIUM SERVICE STATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 8

MILLENNIUM SERVICE STATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: M G Johnson
Mrs S M Bevan
A M Johnson





SECRETARY: M G Johnson





REGISTERED OFFICE: 8 Tarren Terrace
Cwmavon
Port Talbot
South Glamorgan
SA12 9HA





REGISTERED NUMBER: 05703992





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,277,504 1,071,699

CURRENT ASSETS
Stocks 115,796 80,482
Debtors 5 1,236,609 1,298,846
Cash at bank and in hand 163,230 301,985
1,515,635 1,681,313
CREDITORS
Amounts falling due within one year 6 648,242 549,618
NET CURRENT ASSETS 867,393 1,131,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,144,897

2,203,394

CREDITORS
Amounts falling due after more than one
year

7

(675,464

)

(689,669

)

PROVISIONS FOR LIABILITIES (2,580 ) (9,253 )
NET ASSETS 1,466,853 1,504,472

CAPITAL AND RESERVES
Called up share capital 2 2
Non-Distributable Reserves 9 886,334 886,334
Retained earnings 580,517 618,136
SHAREHOLDERS' FUNDS 1,466,853 1,504,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





A M Johnson - Director


MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Millennium Service Stations Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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.
Freehold property - 1% on cost
Plant and Machinery - 20% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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 Income Statement, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments held within a deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Freehold Property
On transition to FRS 102 freehold property was valued at deemed cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property Machinery fittings
£    £    £   
COST
At 1 March 2022 1,100,000 142,179 65,602
Additions - 81,017 141,123
At 28 February 2023 1,100,000 223,196 206,725
DEPRECIATION
At 1 March 2022 77,000 116,371 48,943
Charge for year 7,000 15,900 8,294
At 28 February 2023 84,000 132,271 57,237
NET BOOK VALUE
At 28 February 2023 1,016,000 90,925 149,488
At 28 February 2022 1,023,000 25,808 16,659

MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 22,568 21,915 1,352,264
Additions 22,177 - 244,317
At 28 February 2023 44,745 21,915 1,596,581
DEPRECIATION
At 1 March 2022 18,176 20,075 280,565
Charge for year 6,240 1,078 38,512
At 28 February 2023 24,416 21,153 319,077
NET BOOK VALUE
At 28 February 2023 20,329 762 1,277,504
At 28 February 2022 4,392 1,840 1,071,699

Included in cost of land and buildings is freehold land of £ 400,000 (2022 - £ 400,000 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
Machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 62,588 22,568 85,156
Additions 54,969 - 54,969
At 28 February 2023 117,557 22,568 140,125
DEPRECIATION
At 1 March 2022 40,362 18,176 58,538
Charge for year 11,756 4,392 16,148
At 28 February 2023 52,118 22,568 74,686
NET BOOK VALUE
At 28 February 2023 65,439 - 65,439
At 28 February 2022 22,226 4,392 26,618

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 108,321 117,637
Other debtors 1,128,288 1,181,209
1,236,609 1,298,846

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,796 35,796
Hire purchase contracts 15,816 9,663
Trade creditors 509,048 423,640
Taxation and social security 25,163 58,255
Other creditors 62,419 22,264
648,242 549,618

MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 652,630 688,425
Hire purchase contracts 22,834 1,244
675,464 689,669

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 688,426 724,221
Hire purchase contracts 38,650 10,907
727,076 735,128

The hire purchases are secured upon the assets to which they relate.

The loan facility is currently interest only and capital repayments commenced in October 2021 with a 5 year profile. The maturity of the loans is based on this repayment profile with a lump sum paid at the end of the 5 years.


For all charges, the amount secured by Barclays Bank Plc, is all the company's liabilities to Bank Barclays Bank Plc of any kind in any currency (whether present or future actual or contingent and whether incurred alone or jointly with another) including banking charges, commission interest costs and expenses.

9. RESERVES
Non-Distributable
Reserves
£   
At 1 March 2022
and 28 February 2023 886,334

The revaluation reserve represents the fair value increases in property when compared to historical cost.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
A M Johnson
Balance outstanding at start of year (90 ) 97
Amounts advanced 65,151 73,613
Amounts repaid (65,160 ) (73,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (99 ) (90 )

MILLENNIUM SERVICE STATIONS LIMITED (REGISTERED NUMBER: 05703992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

11. RELATED PARTY DISCLOSURES

Entities with control, joint control, or significant influence over the company
2023 2022
£ £
Amount due from related parties - Johnsons Retail Limited 1,093,997 1,146,918
Amount due to related parties 50,004 9,384

The debt due from Johnsons Retail Limited is receivable in more than 12 months.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MILLENNIUM SERVICE STATIONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Millennium Service Stations Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Millennium Service Stations Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Millennium Service Stations Limited and state those matters that we have agreed to state to the Board of Directors of Millennium Service Stations Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Millennium Service Stations Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Millennium Service Stations 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 Millennium Service Stations Limited. You consider that Millennium Service Stations 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 Millennium Service Stations 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.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


26 September 2023