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REGISTERED NUMBER: 00845435 (England and Wales)
















Financial Statements

for the Year Ended 30 April 2023

for

Millwood Motor Company Ltd

Millwood Motor Company Ltd (Registered number: 00845435)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Millwood Motor Company Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTORS: J G Vicker
Mrs M A Griffith
P Griffith



SECRETARY: Mrs M A Griffith



REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT



REGISTERED NUMBER: 00845435 (England and Wales)



ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT



BANKERS: National Westminster Bank
84 Commercial Road
Swindon
Wiltshire
SN1 5NW

Millwood Motor Company Ltd

Report of the Accountants to the Directors of
Millwood Motor Company Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


15 November 2023

Millwood Motor Company Ltd (Registered number: 00845435)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,010,375 1,008,646

CURRENT ASSETS
Stocks 313,096 197,478
Debtors 5 216,578 252,641
Cash at bank and in hand 687,451 610,830
1,217,125 1,060,949
CREDITORS
Amounts falling due within one year 6 513,654 674,995
NET CURRENT ASSETS 703,471 385,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,713,846

1,394,600

PROVISIONS FOR LIABILITIES 39,216 37,168
NET ASSETS 1,674,630 1,357,432

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 2,000 2,000
Retained earnings 1,671,630 1,354,432
SHAREHOLDERS' FUNDS 1,674,630 1,357,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Millwood Motor Company Ltd (Registered number: 00845435)

Balance Sheet - continued
30 April 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:




P Griffith - Director



J G Vicker - Director


Millwood Motor Company Ltd (Registered number: 00845435)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

Millwood Motor Company 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - nil
Garage Equipment - 12.5% on cost
Office Equipment - 33% on cost
Motor vehicles - 25% on reducing balance

No depreciation is provided on freehold property. It is the company's policy to maintain property to ensure its value does not diminish due to physical deterioration over the course of time. The associated maintenance costs are charged to the profit and loss account as incurred.

Improvements to property are the costs of demolition and reconstruction of the petrol forecourt and convenience store in conjunction with full land remediation. Such costs are considered to be inseparable from the freehold property and have been recategorised accordingly.

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

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 15 (2022 - 19 ) .

Millwood Motor Company Ltd (Registered number: 00845435)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022 780,464 867,860 1,648,324
Additions 9,262 39,366 48,628
Disposals - (217 ) (217 )
At 30 April 2023 789,726 907,009 1,696,735
DEPRECIATION
At 1 May 2022 - 639,678 639,678
Charge for year - 46,892 46,892
Eliminated on disposal - (210 ) (210 )
At 30 April 2023 - 686,360 686,360
NET BOOK VALUE
At 30 April 2023 789,726 220,649 1,010,375
At 30 April 2022 780,464 228,182 1,008,646

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,853 50,039
Other debtors 200,725 202,602
216,578 252,641

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 317,473 218,824
Taxation and social security 158,707 100,783
Other creditors 37,474 355,388
513,654 674,995

Millwood Motor Company Ltd (Registered number: 00845435)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 25,200 16,800
Between one and five years 92,400 -
117,600 16,800