Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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575,732 | 842,718 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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2,676,789 | 2,953,570 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 1,879,089 | 1,925,729 | ||
Total assets less current liabilities | 2,454,821 | 2,768,447 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Milkwood Publishing Limited (registered number:
Mrs L Thompson
Director |
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.
Milkwood Publishing 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 Milkwood House Jon Davey Drive, Treleigh Industrial Estate, Redruth, TR16 4AX, 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 £.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Goodwill |
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Computer software |
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Trademarks, patents and licences | not amortised |
Land and buildings |
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Vehicles |
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Fixtures and fittings |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Goodwill | Computer software | Trademarks, patents and licences |
Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2022 |
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At 31 March 2023 |
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Accumulated amortisation | |||||||
At 01 April 2022 |
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At 31 March 2023 |
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Net book value | |||||||
At 31 March 2023 |
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At 31 March 2022 |
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Land and buildings | Vehicles | Fixtures and fittings | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2022 |
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Additions |
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Disposals | (
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At 31 March 2023 |
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Accumulated depreciation | |||||||
At 01 April 2022 |
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Charge for the financial year |
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Disposals | (
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At 31 March 2023 |
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Net book value | |||||||
At 31 March 2023 |
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At 31 March 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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102 | 102 |
Commitments
2023 | 2022 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Interest free loan to Mrs L Thompson | 95,222 | 94,122 |
Advances
Parent Company:
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Milkwood House Jon Davey Drive, Treleigh Industrial Estate, Redruth, Cornwall, United Kingdom, TR16 4AX |