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Registered Number: 12242004
England and Wales

 

 

 

MILLER & LANCASTER LETTINGS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,068,408    974,988 
1,068,408    974,988 
Current assets      
Cash at bank and in hand 10,135    7,299 
Creditors: amount falling due within one year 4 (299,359)   (290,431)
Net current liabilities (289,224)   (283,132)
 
Total assets less current liabilities 779,184    691,856 
Creditors: amount falling due after more than one year 5 (745,571)   (681,050)
Net assets 33,613    10,806 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 33,513    10,706 
Shareholder's funds 33,613    10,806 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 November 2023 and were signed on its behalf by:


-------------------------------
Brian Lancaster
Director
1
General Information
Miller & Lancaster Lettings Limited is a private company, limited by shares, registered in England and Wales, registration number 12242004, registration address 13 Leander Avenue, Choppington, Northumberland, NE62 5AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
As with most businesses the company has been impacted by the Coronavirus (Covid-19). This has had an impact on operations and the directors are taking the steps it can to protect the future of the business. Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 20% Reducing Balance
Land and Buildings 0% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 April 2022 974,833    194    975,027 
Additions 92,660    989    93,649 
Disposals    
At 31 March 2023 1,067,493    1,183    1,068,676 
Depreciation
At 01 April 2022   39    39 
Charge for year   229    229 
On disposals    
At 31 March 2023   268    268 
Net book values
Closing balance as at 31 March 2023 1,067,493    915    1,068,408 
Opening balance as at 01 April 2022 974,833    155    974,988 


4.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 6,041    3,399 
Accrued Expenses 420    420 
Directors' Current Accounts 292,898    286,612 
299,359    290,431 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Long Term Bank Loans 745,571    681,050 
745,571    681,050 

6.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £292,898 (2022 - £286,612).

7.

Controlling party

For the whole of the period under review the company was under the control of Brian Lancaster, director of the company.

2