Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseconstruction of commercial buildings35truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03720191 2022-03-01 2023-02-28 03720191 2021-03-01 2022-02-28 03720191 2023-02-28 03720191 2022-02-28 03720191 c:Director1 2022-03-01 2023-02-28 03720191 d:Buildings 2022-03-01 2023-02-28 03720191 d:Buildings 2023-02-28 03720191 d:Buildings 2022-02-28 03720191 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03720191 d:PlantMachinery 2022-03-01 2023-02-28 03720191 d:PlantMachinery 2023-02-28 03720191 d:PlantMachinery 2022-02-28 03720191 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03720191 d:MotorVehicles 2022-03-01 2023-02-28 03720191 d:MotorVehicles 2023-02-28 03720191 d:MotorVehicles 2022-02-28 03720191 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03720191 d:FurnitureFittings 2022-03-01 2023-02-28 03720191 d:FurnitureFittings 2023-02-28 03720191 d:FurnitureFittings 2022-02-28 03720191 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03720191 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03720191 d:CurrentFinancialInstruments 2023-02-28 03720191 d:CurrentFinancialInstruments 2022-02-28 03720191 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03720191 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 03720191 d:ShareCapital 2023-02-28 03720191 d:ShareCapital 2022-02-28 03720191 d:RetainedEarningsAccumulatedLosses 2023-02-28 03720191 d:RetainedEarningsAccumulatedLosses 2022-02-28 03720191 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 03720191 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 03720191 c:FRS102 2022-03-01 2023-02-28 03720191 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 03720191 c:FullAccounts 2022-03-01 2023-02-28 03720191 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03720191 2 2022-03-01 2023-02-28 03720191 e:PoundSterling 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 03720191









MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
REGISTERED NUMBER: 03720191

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
372,560
376,566

  
372,560
376,566

Current assets
  

Stocks
 5 
96,980
2,293

Debtors: amounts falling due within one year
 6 
108,468
53,068

Cash at bank and in hand
 7 
204,530
278,275

  
409,978
333,636

Creditors: amounts falling due within one year
 8 
(316,736)
(263,650)

Net current assets
  
 
 
93,242
 
 
69,986

Total assets less current liabilities
  
465,802
446,552

  

Net assets
  
465,802
446,552


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
465,800
446,550

  
465,802
446,552


Page 1

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
REGISTERED NUMBER: 03720191
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




................................................
Richard Abbott
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Millennium Construction & Maintenance UK Limited is a private company incorporated in England and Wales, limited by share capital.  The principal activity throughout the year was that of shop fitting, joinery and design.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 5).

Page 5

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 March 2022
357,361
33,244
51,275
9,068
450,948


Additions
-
442
-
-
442



At 28 February 2023

357,361
33,686
51,275
9,068
451,390



Depreciation


At 1 March 2022
-
25,889
40,876
7,617
74,382


Charge for the year on owned assets
-
1,559
2,599
290
4,448



At 28 February 2023

-
27,448
43,475
7,907
78,830



Net book value



At 28 February 2023
357,361
6,238
7,800
1,161
372,560



At 28 February 2022
357,361
7,355
10,399
1,451
376,566

Page 6

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Stocks

2023
2022
£
£

Work in progress
96,480
1,793

Finished goods and goods for resale
500
500

96,980
2,293



6.


Debtors

2023
2022
£
£


Trade debtors
97,946
42,310

Other debtors
6
-

Prepayments and accrued income
10,516
10,758

108,468
53,068



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
204,530
278,275

204,530
278,275



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
105,318
112,338

Amounts owed to joint ventures
109,901
110,011

Corporation tax
21,514
7,746

Other taxation and social security
33,407
5,176

Other creditors
129
129

Accruals and deferred income
46,467
28,250

316,736
263,650


Page 7

 
MILLENNIUM CONSTRUCTION & MAINTENANCE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
204,530
278,275




Financial assets measured at fair value through profit or loss comprise cash in bank and in hand.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £645 (2022 - £582) . Contributions totalling £129 (2022 - £129) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


12.


Related party transactions

Millennium Construction and Maintenance (Southern) Limited is a company in which Helen Abbott is a director and shareholder.  
During the year, the Company paid expenses of £110 (2022 - £100) on behalf of Millennium Construction and Maintenance (Southern) Limited, and received transfers of £nil (2022 - £nil) from the above company. At the end of the year, the company owed Millennium Construction and Manitenance (Southern) Limited £109,901 (2022 - £110,011).


13.


Controlling party

The Company is controlled by the director, Richard Abbott and his wife, Helen Abbott, by virtue of their shareholding as described in the director's report.

 
Page 8