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REGISTERED NUMBER: 06054743 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MILWYN JENKINS & JENKINS LIMITED

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILWYN JENKINS & JENKINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: C W Ransford
A Foulkes
K Goodman





REGISTERED OFFICE: Mid Wales House
Great Oak Street
Llanidloes
Powys
SY18 6BN





REGISTERED NUMBER: 06054743 (England and Wales)





ACCOUNTANTS: Malthouse & Company Chartered Accountants
America House, Rumford Court
Rumford Place
Liverpool
Merseyside
L3 9DD

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 240,913 8,693
240,913 8,693

CURRENT ASSETS
Stocks 39,932 39,261
Debtors 6 224,806 270,518
Cash at bank and in hand 8,860 44,037
273,598 353,816
CREDITORS
Amounts falling due within one year 7 198,641 141,165
NET CURRENT ASSETS 74,957 212,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,870

221,344

CREDITORS
Amounts falling due after more than one
year

8

(210,057

)

(51,355

)

PROVISIONS FOR LIABILITIES (1,428 ) (1,651 )
NET ASSETS 104,385 168,338

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

BALANCE SHEET - continued
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 104,383 168,336
SHAREHOLDERS' FUNDS 104,385 168,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 30 August 2023 and were signed on its behalf by:




C W Ransford - Director



A Foulkes - Director


MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Milwyn Jenkins & Jenkins 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 represents net invoiced sales of services, excluding value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the incorporation of the business in 2007, is being amortised evenly over its estimated useful life of ten years.

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 - 2% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially recognised at cost.

STOCK
Stock is work in progress and is valued at the lower of cost and net realisable value.

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.


MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 25 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 85,000
AMORTISATION
At 1 March 2022
and 28 February 2023 85,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022 - 13,965 31,491 45,456
Additions 240,000 - 1,233 241,233
At 28 February 2023 240,000 13,965 32,724 286,689
DEPRECIATION
At 1 March 2022 - 13,965 22,798 36,763
Charge for year 4,800 - 4,213 9,013
At 28 February 2023 4,800 13,965 27,011 45,776
NET BOOK VALUE
At 28 February 2023 235,200 - 5,713 240,913
At 28 February 2022 - - 8,693 8,693

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 170,166 167,022
Directors' loan accounts 43,967 93,389
Tax - 2,761
Prepayments 10,673 7,346
224,806 270,518

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 45,398 37,483
Tax 48,763 37,371
Social security and other taxes 55,803 48,557
Other creditors 1,878 1,802
Directors' loan accounts 42,893 13,644
Accrued expenses 3,906 2,308
198,641 141,165

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 19,200 14,896
Bank loans - 2-5 years 57,600 36,459
Bank loans more than 5 years 133,257 -
210,057 51,355

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 133,257 -

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank overdrafts 14,531 23,006
Bank loans 240,924 -
255,455 23,006

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


11. RESERVES
Retained
earnings
£   

At 1 March 2022 168,336
Profit for the year 56,258
Dividends (120,211 )
At 28 February 2023 104,383

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
C W Ransford
Balance outstanding at start of year 43,971 48,828
Amounts advanced 92,831 44,923
Amounts repaid (169,780 ) (49,780 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (32,978 ) 43,971

A Foulkes
Balance outstanding at start of year 49,418 50,820
Amounts advanced 45,764 49,678
Amounts repaid (51,215 ) (51,080 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,967 49,418

K Goodman
Balance outstanding at start of year (13,644 ) -
Amounts advanced 26,719 36,136
Amounts repaid (22,991 ) (49,780 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,916 ) (13,644 )

MILWYN JENKINS & JENKINS LIMITED (REGISTERED NUMBER: 06054743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest is charged on overdrawn directors' loan accounts at the rate of 2% per annum.

13. RELATED PARTY DISCLOSURES

During the year, dividends totalling £120,211 (2022: £147,000) were paid to the directors.

14. ULTIMATE CONTROLLING PARTY

The company was considered to be under the control of the directors for the period under review.