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REGISTERED NUMBER: 07385154 (England and Wales)

















Milhaven Homes Limited

Financial Statements for the Year Ended 30 September 2023






Milhaven Homes Limited (Registered number: 07385154)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Milhaven Homes Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: Mr I R Battye
Mrs T Battye





REGISTERED OFFICE: 5 Smook Hills Road
Hollym
East Yorkshire
HU19 2QQ





REGISTERED NUMBER: 07385154 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Milhaven Homes Limited (Registered number: 07385154)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 110,000 110,000

CURRENT ASSETS
Debtors 5 178 150

CREDITORS
Amounts falling due within one year 6 99,113 101,331
NET CURRENT LIABILITIES (98,935 ) (101,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,065

8,819

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 11,220 11,220
Retained earnings (255 ) (2,501 )
SHAREHOLDERS' FUNDS 11,065 8,819

Milhaven Homes Limited (Registered number: 07385154)

Balance Sheet - continued
30 September 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





Mr I R Battye - Director


Milhaven Homes Limited (Registered number: 07385154)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Milhaven Homes 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of rents receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 110,000
NET BOOK VALUE
At 30 September 2023 110,000
At 30 September 2022 110,000

Milhaven Homes Limited (Registered number: 07385154)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2015 6,220
Valuation in 2018 5,000
Cost 98,780
110,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 98,780 98,780

Investment property was valued on an open market basis on 30 September 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 178 150

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 5,430 5,430
Directors' current accounts 92,714 93,682
Accruals 969 2,219
99,113 101,331

7. RESERVES
Revaluation
reserve
£   
At 1 October 2022
and 30 September 2023 11,220