Bright AccountsProduction v1.0.0 v1.0.0 2022-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is property rental and management services. 16 January 2024 0 0 NI038604 2023-06-30 NI038604 2022-06-30 NI038604 2021-06-30 NI038604 2022-07-01 2023-06-30 NI038604 2021-07-01 2022-06-30 NI038604 uk-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 NI038604 uk-curr:PoundSterling 2022-07-01 2023-06-30 NI038604 uk-bus:AbridgedAccounts 2022-07-01 2023-06-30 NI038604 uk-core:ShareCapital 2023-06-30 NI038604 uk-core:ShareCapital 2022-06-30 NI038604 uk-core:OtherReservesSubtotal 2023-06-30 NI038604 uk-core:OtherReservesSubtotal 2022-06-30 NI038604 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI038604 uk-core:RetainedEarningsAccumulatedLosses 2022-06-30 NI038604 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI038604 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-06-30 NI038604 uk-bus:FRS102 2022-07-01 2023-06-30 NI038604 uk-core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 NI038604 2022-07-01 2023-06-30 NI038604 uk-bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 NI038604 uk-bus:Director2 2022-07-01 2023-06-30 NI038604 uk-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Milltown MS Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 June 2023



Milltown MS Ltd
Company Registration Number: NI038604
ABRIDGED BALANCE SHEET
as at 30 June 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 - 44
Investment properties 5 175,000 175,000
───────── ─────────
175,000 175,044
───────── ─────────
 
Current Assets
Cash at bank and in hand 4,294 15,346
Creditors: amounts falling due within one year (61,869) (51,560)
───────── ─────────
Net Current Liabilities (57,575) (36,214)
───────── ─────────
Total Assets less Current Liabilities 117,425 138,830
═════════ ═════════
 
Capital and Reserves
Called up share capital 202 202
Other reserves 115,000 115,000
Retained earnings 2,223 23,628
───────── ─────────
Shareholders' Funds 117,425 138,830
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 16 January 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Mr. Liam Leddy     Mr. Brian Magennis
Director     Director
           



Milltown MS Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 June 2023

   
1. General Information
 
Milltown MS Ltd is a private company limited by shares incorporated in Northern Ireland. Unit 5 Milltown Industrial Estate, Greenan Road, Warrenpoint, Co. Down, BT34 3FN, Northern Ireland is the registered office, which is also the principal place of business of the company. The company number is NI038604.

The financial statements cover the individual entity for the year ended 30 June 2023.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 June 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The company did not engage any employees in the financial period or the comparative period.
       
4. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost or Valuation
At 1 July 2022 10,643 10,643
  ───────── ─────────
 
At 30 June 2023 10,643 10,643
  ───────── ─────────
Depreciation
At 1 July 2022 10,599 10,599
Charge for the financial year 44 44
  ───────── ─────────
At 30 June 2023 10,643 10,643
  ───────── ─────────
Net book value
At 30 June 2023 - -
  ═════════ ═════════
At 30 June 2022 44 44
  ═════════ ═════════
     
5. Investment Properties
  Investment
  properties
 
  £
Cost
 
At 30 June 2023 175,000
  ─────────
Net book value
At 30 June 2023 175,000
  ═════════
At 30 June 2022 175,000
  ═════════
 
The property at Unit 5, Milltown Industrial Estate, Warrenpoint, was valued by an independant third party, during the year ended 30th June 2017. The directors are of the opinion that the value stated in the financial statements has not changed in the financial year ended 30th June 2023 based on the value of comparable properties in the area.