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REGISTERED NUMBER: 03658719 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Millquick Ltd

Millquick Ltd (Registered number: 03658719)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Millquick Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: F Crystall
C Crystall
J Crystall
M Crystall





SECRETARY: F Crystall





REGISTERED OFFICE: Unit 14
Waterhouse Business Park
4 Cromar Way
Chelmsford
Essex
CM1 2GL





REGISTERED NUMBER: 03658719 (England and Wales)





ACCOUNTANTS: Tiffin Green
Swan House
9 Queens Road
Brentwood
Essex
CM14 4HE

Millquick Ltd (Registered number: 03658719)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 140
Investment property 5 2,430,000 2,430,000
2,430,000 2,430,140

CURRENT ASSETS
Debtors 6 800 -
Cash at bank and in hand 57,490 44,307
58,290 44,307
CREDITORS
Amounts falling due within one year 7 888,474 835,195
NET CURRENT LIABILITIES (830,184 ) (790,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,599,816

1,639,252

CREDITORS
Amounts falling due after more than one
year

8

(387,390

)

(419,219

)

PROVISIONS FOR LIABILITIES (31,458 ) (31,458 )
NET ASSETS 1,180,968 1,188,575

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 541,296 541,296
Retained earnings 639,572 647,179
1,180,968 1,188,575

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Millquick Ltd (Registered number: 03658719)

Balance Sheet - continued
31 December 2022


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 30 October 2023 and were signed on its behalf by:





F Crystall - Director


Millquick Ltd (Registered number: 03658719)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Millquick Ltd 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.

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
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss

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.


Millquick Ltd (Registered number: 03658719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 8,977
DEPRECIATION
At 1 January 2022 8,837
Charge for year 140
At 31 December 2022 8,977
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 140

T

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022
and 31 December 2022 2,436,254
DEPRECIATION
At 1 January 2022
and 31 December 2022 6,254
NET BOOK VALUE
At 31 December 2022 2,430,000
At 31 December 2021 2,430,000

Millquick Ltd (Registered number: 03658719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 800 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 32,365 31,562
Payments on account 2,800 2,800
Taxation and social security 26,680 26,648
Other creditors 826,629 774,185
888,474 835,195

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 387,390 419,219

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 321,180 321,180

9. RESERVES
Fair
value
reserve
£   
At 1 January 2022
and 31 December 2022 541,296