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REGISTERED NUMBER: 05873756 (England and Wales)










Millmead Holdings Limited

Unaudited Financial Statements

for the Period 1 January 2023 to 31 July 2023






Millmead Holdings Limited (Registered number: 05873756)






Contents of the Financial Statements
for the Period 1 January 2023 to 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Millmead Holdings Limited

Company Information
for the Period 1 January 2023 to 31 July 2023







DIRECTORS: R I Wood
D E Wood





SECRETARY: D E Wood





REGISTERED OFFICE: Boldre Mead
Southampton Road
Boldre
Hampshire
SO41 8ND





REGISTERED NUMBER: 05873756 (England and Wales)

Millmead Holdings Limited (Registered number: 05873756)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 63 84
Investments 6 - 250,000
63 250,084

CURRENT ASSETS
Debtors 7 384,426 234,416
Cash at bank 193,373 349,383
577,799 583,799
CREDITORS
Amounts falling due within one year 8 (11,693 ) (6,107 )
NET CURRENT ASSETS 566,106 577,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

566,169

827,776

CREDITORS
Amounts falling due after more than one year 9 - (250,000 )
NET ASSETS 566,169 577,776

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 566,069 577,676
566,169 577,776

Millmead Holdings Limited (Registered number: 05873756)

Balance Sheet - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2023 and were signed on its behalf by:





R I Wood - Director


Millmead Holdings Limited (Registered number: 05873756)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 July 2023

1. GENERAL INFORMATION

Millmead Holdings 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GROUP ACCOUNTS NOT PREPARED
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate
Office equipment 25% reducing balance basis
Computer equipment 25% straight line basis

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.


Millmead Holdings Limited (Registered number: 05873756)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

3. ACCOUNTING POLICIES - continued
TAX
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss
Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

Millmead Holdings Limited (Registered number: 05873756)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 July 2023 3,293
DEPRECIATION
At 1 January 2023 3,209
Charge for period 21
At 31 July 2023 3,230
NET BOOK VALUE
At 31 July 2023 63
At 31 December 2022 84

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2023 250,000
Disposals (250,000 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 December 2022 250,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Madison Property Developments Limited
Registered office: Boldre Mead, Southampton Road Boldre, Lymington, Hampshire,SO41 8ND England and wales
Nature of business:
%
Class of shares: holding
Ordinary shares 100.00

Madison Residential Property Limited
Registered office: Boldre Mead, Southampton Road Boldre, Lymington, Hampshire,SO41 8ND England and wales
Nature of business:
%
Class of shares: holding
Ordinary shares 100.00

Millmead Holdings Limited (Registered number: 05873756)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

6. FIXED ASSET INVESTMENTS - continued

2023 2022
£    £   
Investments in subsidiaries - 18,665

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 78,169 78,169
Directors' current accounts 306,257 156,247
384,426 234,416

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax liability - 81
Accruals and deferred income 11,693 6,026
11,693 6,107

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 2-5 years - 250,000

10. OTHER FINANCIAL ASSETS (CURRENT AND NON-CURRENT)

2023 2022
£    £   
Non-current financial assets
Financial assets at cost less impairment - 250,000

Millmead Holdings Limited (Registered number: 05873756)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

11. RELATED PARTY TRANSACTIONS

The following advances and credits to a director subsisted during the period ended 31 July 2023 and the year ended 31 December 2022:

2023 2022
£    £   
R I Wood
Balance outstanding at start of period 156,247 306,257
Amounts advanced 150,010 -
Amounts repaid - (150,010 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 306,257 156,247

12. DIVIDENDS

2023 2022
£    £   

Interim dividend - 650,000