David Mills Estates (Oxford) Limited 993441 false 2022-04-06 2023-04-05 2023-04-05 The principal activity of the company is that of property management and interior design Digita Accounts Production Advanced 6.30.9574.0 true 993441 2022-04-06 2023-04-05 993441 2023-04-05 993441 core:RetainedEarningsAccumulatedLosses 2023-04-05 993441 core:ShareCapital 2023-04-05 993441 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 993441 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-05 993441 core:FurnitureFittings 2023-04-05 993441 core:MotorVehicles 2023-04-05 993441 core:PlantMachinery 2023-04-05 993441 bus:SmallEntities 2022-04-06 2023-04-05 993441 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 993441 bus:FullAccounts 2022-04-06 2023-04-05 993441 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 993441 bus:RegisteredOffice 2022-04-06 2023-04-05 993441 bus:Director3 2022-04-06 2023-04-05 993441 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 993441 core:ComputerEquipment 2022-04-06 2023-04-05 993441 core:FurnitureFittings 2022-04-06 2023-04-05 993441 core:MotorVehicles 2022-04-06 2023-04-05 993441 core:OfficeEquipment 2022-04-06 2023-04-05 993441 core:PlantMachinery 2022-04-06 2023-04-05 993441 countries:EnglandWales 2022-04-06 2023-04-05 993441 2022-04-05 993441 core:FurnitureFittings 2022-04-05 993441 core:MotorVehicles 2022-04-05 993441 core:PlantMachinery 2022-04-05 993441 2021-04-06 2022-04-05 993441 2022-04-05 993441 core:RetainedEarningsAccumulatedLosses 2022-04-05 993441 core:ShareCapital 2022-04-05 993441 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-05 993441 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-05 993441 core:FurnitureFittings 2022-04-05 993441 core:MotorVehicles 2022-04-05 993441 core:PlantMachinery 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 993441

David Mills Estates (Oxford) Limited

trading as Mills Properties

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2023

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

(Registration number: 993441)
Balance Sheet as at 5 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

40,438

27,903

Current assets

 

Debtors

5

26,578

33,580

Cash at bank and in hand

 

154,433

181,449

 

181,011

215,029

Creditors: Amounts falling due within one year

6

(31,639)

(31,219)

Net current assets

 

149,372

183,810

Total assets less current liabilities

 

189,810

211,713

Creditors: Amounts falling due after more than one year

6

(154,392)

(164,754)

Net assets

 

35,418

46,959

Capital and reserves

 

Called up share capital

800

800

Profit and loss account

34,618

46,159

Total equity

 

35,418

46,959

For the financial year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

(Registration number: 993441)
Balance Sheet as at 5 April 2023

.........................................
B Mills
Director

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

Notes to the Financial Statements for the Year Ended 5 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Sand Furlong
Bletchingdon
Oxfordshire
OX5 3EY

These financial statements were authorised for issue by the Board on 15 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

Notes to the Financial Statements for the Year Ended 5 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Computer equipment

20% straight line

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

Notes to the Financial Statements for the Year Ended 5 April 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2022 - 3).

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

Notes to the Financial Statements for the Year Ended 5 April 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 6 April 2022

15,384

33,449

46,428

95,261

Additions

3,680

1,538

19,737

24,955

At 5 April 2023

19,064

34,987

66,165

120,216

Depreciation

At 6 April 2022

14,388

32,113

20,857

67,358

Charge for the year

678

415

11,327

12,420

At 5 April 2023

15,066

32,528

32,184

79,778

Carrying amount

At 5 April 2023

3,998

2,459

33,981

40,438

At 5 April 2022

996

1,336

25,571

27,903

5

Debtors

2023
£

2022
£

Prepayments

26,578

33,580

26,578

33,580

 

David Mills Estates (Oxford) Limited

trading as Mills Properties

Notes to the Financial Statements for the Year Ended 5 April 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

9,670

6,885

Taxation and social security

 

237

225

Other creditors

 

21,732

24,109

 

31,639

31,219

Due after one year

 

Other creditors

154,392

164,754

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

154,392

164,754

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £90.55 (2022 - £88.60) per ordinary share

 

72,440

 

70,900