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REGISTERED NUMBER: 13154627 (England and Wales)















MILKWOOD ARTISANS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023






MILKWOOD ARTISANS LTD (REGISTERED NUMBER: 13154627)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILKWOOD ARTISANS LTD

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: R E Baker
D J Baker





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
HD1 5LS





REGISTERED NUMBER: 13154627 (England and Wales)





ACCOUNTANTS: Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

MILKWOOD ARTISANS LTD (REGISTERED NUMBER: 13154627)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 20,472 25,656
Tangible assets 5 30,703 38,722
51,175 64,378

CURRENT ASSETS
Stocks 14,803 27,500
Debtors 6 1,865 2,687
Cash at bank 9,537 11,727
26,205 41,914
CREDITORS
Amounts falling due within one year 7 (116,774 ) (101,473 )
NET CURRENT LIABILITIES (90,569 ) (59,559 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,394

)

4,819

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (39,494 ) 4,719
SHAREHOLDERS' FUNDS (39,394 ) 4,819

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

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

MILKWOOD ARTISANS LTD (REGISTERED NUMBER: 13154627)

BALANCE SHEET - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:




R E Baker - Director



D J Baker - Director


MILKWOOD ARTISANS LTD (REGISTERED NUMBER: 13154627)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023


1. STATUTORY INFORMATION

Milkwood Artisans 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the invoiced value of goods, net of value added tax, recognised at the time of their supply.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of eight years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MILKWOOD ARTISANS LTD (REGISTERED NUMBER: 13154627)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 18,217 12,316 30,533
AMORTISATION
At 1 February 2022 3,713 1,164 4,877
Charge for year 3,644 1,540 5,184
At 31 January 2023 7,357 2,704 10,061
NET BOOK VALUE
At 31 January 2023 10,860 9,612 20,472
At 31 January 2022 14,504 11,152 25,656

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 49,198
Additions 2,265
At 31 January 2023 51,463
DEPRECIATION
At 1 February 2022 10,476
Charge for year 10,284
At 31 January 2023 20,760
NET BOOK VALUE
At 31 January 2023 30,703
At 31 January 2022 38,722

MILKWOOD ARTISANS LTD (REGISTERED NUMBER: 13154627)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,865 2,103
Other debtors - 584
1,865 2,687

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,749 1,810
Taxation and social security 2,408 1,636
Other creditors 112,617 98,027
116,774 101,473

8. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £102,581 (2022 - £97,127) were outstanding at the year end, the amounts are repayable on demand.

9. GOING CONCERN

The business is dependant on the continuing support of the directors.