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REGISTERED NUMBER: 03260745 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MILLSTOCK STAINLESS LIMITED

MILLSTOCK STAINLESS LIMITED (REGISTERED NUMBER: 03260745)

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


MILLSTOCK STAINLESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D J Smith
Mr G Lloyd
Mr A R Jones





REGISTERED OFFICE: Fusion House
The Crescent
Willenhall
West Midlands
WV13 2QR





REGISTERED NUMBER: 03260745 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

MILLSTOCK STAINLESS LIMITED (REGISTERED NUMBER: 03260745)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 516,531 505,380

CURRENT ASSETS
Stocks 1,176,323 935,684
Debtors 5 2,063,528 1,450,151
Cash at bank 1,610,940 1,521,120
4,850,791 3,906,955
CREDITORS
Amounts falling due within one year 6 2,491,617 2,552,049
NET CURRENT ASSETS 2,359,174 1,354,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,875,705

1,860,286

CREDITORS
Amounts falling due after more than
one year

7

(215,045

)

(229,218

)

PROVISIONS FOR LIABILITIES 10 (12,275 ) (8,882 )
NET ASSETS 2,648,385 1,622,186

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,647,385 1,621,186
SHAREHOLDERS' FUNDS 2,648,385 1,622,186

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.

MILLSTOCK STAINLESS LIMITED (REGISTERED NUMBER: 03260745)

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:




Mr D J Smith - Director



Mr A R Jones - Director


MILLSTOCK STAINLESS LIMITED (REGISTERED NUMBER: 03260745)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Millstock Stainless 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. 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 and improvements - 2% on cost
Plant and machinery - 15% on cost
Office equipment - 15% on cost

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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

Investments
Investments held as fixed assets are shown at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

MILLSTOCK STAINLESS LIMITED (REGISTERED NUMBER: 03260745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Freehold
property
and Plant and Office
improvements machinery equipment Totals
£    £    £    £   
COST
At 1 April 2022 574,391 184,142 58,879 817,412
Additions - 36,643 4,991 41,634
Disposals - - (7,509 ) (7,509 )
At 31 March 2023 574,391 220,785 56,361 851,537
DEPRECIATION
At 1 April 2022 120,779 142,008 49,245 312,032
Charge for year 11,486 15,665 3,332 30,483
Eliminated on disposal - - (7,509 ) (7,509 )
At 31 March 2023 132,265 157,673 45,068 335,006
NET BOOK VALUE
At 31 March 2023 442,126 63,112 11,293 516,531
At 31 March 2022 453,612 42,134 9,634 505,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,914,626 1,256,515
Other debtors 148,902 193,636
2,063,528 1,450,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,503 317,999
Trade creditors 1,754,690 1,698,365
Amounts owed to participating interests 336,046 312,352
Taxation and social security 356,506 197,412
Other creditors 28,872 25,921
2,491,617 2,552,049

MILLSTOCK STAINLESS LIMITED (REGISTERED NUMBER: 03260745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 215,045 229,218

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
Instalments

141,968

164,123

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 2,189

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 302,780
Bank loans 230,548 244,437
230,548 547,217

Amounts are secured on the assets of the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 12,275 8,882

Deferred
tax
£   
Balance at 1 April 2022 8,882
Provided during year 3,393
Balance at 31 March 2023 12,275