REGISTERED NUMBER: |
Millmead Holdings Limited |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 July 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Millmead Holdings Limited (Registered number: 05873756) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
Millmead Holdings Limited (Registered number: 05873756) |
Balance Sheet - continued |
31 July 2023 |
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. |
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 |
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 |
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 |
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 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 December 2022 |
6. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Boldre Mead, Southampton Road Boldre, Lymington, Hampshire,SO41 8ND England and wales |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Boldre Mead, Southampton Road Boldre, Lymington, Hampshire,SO41 8ND England and wales |
Nature of business: |
% |
Class of shares: | holding |
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 |
Directors' current accounts | 306,257 | 156,247 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Corporation tax liability |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans - 2-5 years |
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 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
12. | DIVIDENDS |
2023 | 2022 |
£ | £ |
Interim dividend | - | 650,000 |