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REGISTERED NUMBER: 03799524 (England and Wales)




Unaudited Financial Statements

for the Year Ended 31 March 2023

for

MILLENNIUM PLANT (EASTERN) LIMITED

MILLENNIUM PLANT (EASTERN) LIMITED (REGISTERED NUMBER: 03799524)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILLENNIUM PLANT (EASTERN) LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Brown
D S Davison





SECRETARY: M Brown





REGISTERED OFFICE: Victoria House
50 Alexandra Street
Southend on Sea
Essex
SS1 1BN





REGISTERED NUMBER: 03799524 (England and Wales)





ACCOUNTANTS: Barnard Mountstephens Childs Limited
Chartered Certified Accountants
Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN

MILLENNIUM PLANT (EASTERN) LIMITED (REGISTERED NUMBER: 03799524)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 437,049 806,759

CURRENT ASSETS
Debtors 6 17,612 2,675
Cash at bank 326,020 62,912
343,632 65,587
CREDITORS
Amounts falling due within one year 7 131,087 11,946
NET CURRENT ASSETS 212,545 53,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,594

860,400

PROVISIONS FOR LIABILITIES 122,800 122,800
NET ASSETS 526,794 737,600

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 526,694 737,500
SHAREHOLDERS' FUNDS 526,794 737,600

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

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

MILLENNIUM PLANT (EASTERN) LIMITED (REGISTERED NUMBER: 03799524)

Balance Sheet - continued
31 March 2023


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 Comprehensive Income has not been delivered.

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





M Brown - Director


MILLENNIUM PLANT (EASTERN) LIMITED (REGISTERED NUMBER: 03799524)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Millennium Plant (Eastern) 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.

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 preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced plant hire services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & equipment - at varying rates on cost
Motor vehicles - 20% on cost

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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MILLENNIUM PLANT (EASTERN) LIMITED (REGISTERED NUMBER: 03799524)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than the carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant & Motor
equipment vehicles Totals
£    £    £   
COST
At 1 April 2022 4,814,870 243,239 5,058,109
Disposals (3,039,837 ) (145,781 ) (3,185,618 )
At 31 March 2023 1,775,033 97,458 1,872,491
DEPRECIATION
At 1 April 2022 4,025,077 226,273 4,251,350
Charge for year 184,428 2,723 187,151
Eliminated on disposal (2,868,797 ) (134,262 ) (3,003,059 )
At 31 March 2023 1,340,708 94,734 1,435,442
NET BOOK VALUE
At 31 March 2023 434,325 2,724 437,049
At 31 March 2022 789,793 16,966 806,759

MILLENNIUM PLANT (EASTERN) LIMITED (REGISTERED NUMBER: 03799524)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 16,115 -
Prepayments 1,497 2,675
17,612 2,675

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors - 2,769
Corporation tax 13,084 -
VAT 113,080 6,678
Other creditors 1,923 -
Accrued expenses 3,000 2,499
131,087 11,946

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of RBS Group Ltd, a company registered in England.

The company has no overall controlling party.