IRIS Accounts Production v23.4.0.336 02819313 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028193132022-10-31028193132023-10-31028193132022-11-012023-10-31028193132021-10-31028193132021-11-012022-10-31028193132022-10-3102819313ns15:EnglandWales2022-11-012023-10-3102819313ns14:PoundSterling2022-11-012023-10-3102819313ns10:Director12022-11-012023-10-3102819313ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3102819313ns10:SmallEntities2022-11-012023-10-3102819313ns10:AuditExemptWithAccountantsReport2022-11-012023-10-3102819313ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3102819313ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3102819313ns10:FullAccounts2022-11-012023-10-3102819313ns10:Director22022-11-012023-10-3102819313ns10:CompanySecretary12022-11-012023-10-3102819313ns10:RegisteredOffice2022-11-012023-10-3102819313ns5:CurrentFinancialInstruments2023-10-3102819313ns5:CurrentFinancialInstruments2022-10-3102819313ns5:ShareCapital2023-10-3102819313ns5:ShareCapital2022-10-3102819313ns5:CapitalRedemptionReserve2023-10-3102819313ns5:CapitalRedemptionReserve2022-10-3102819313ns5:RetainedEarningsAccumulatedLosses2023-10-3102819313ns5:RetainedEarningsAccumulatedLosses2022-10-3102819313ns5:PlantMachinery2022-11-012023-10-3102819313ns5:PlantMachinery2022-10-3102819313ns5:PlantMachinery2023-10-3102819313ns5:PlantMachinery2022-10-3102819313ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3102819313ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31
REGISTERED NUMBER: 02819313 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Millframe Fine Arts Limited

Millframe Fine Arts Limited (Registered number: 02819313)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountant 5

Millframe Fine Arts Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P Bowskill
Mrs J Bowskill





SECRETARY: P Bowskill





REGISTERED OFFICE: The Pump House
Royston Road
Barkway
Royston
Hertfordshire
SG8 8BX





REGISTERED NUMBER: 02819313 (England and Wales)





ACCOUNTANT: Carol Willis FCCA
Kings Cottage
London Road
Barkway
Royston
Hertfordshire
SG8 8EZ

Millframe Fine Arts Limited (Registered number: 02819313)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,146 913

CURRENT ASSETS
Stocks 497,428 456,698
Debtors 5 213 433
Investments 6 934,142 929,115
Cash at bank 51,348 43,152
1,483,131 1,429,398
CREDITORS
Amounts falling due within one year 7 1,128,107 1,110,931
NET CURRENT ASSETS 355,024 318,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

356,170

319,380

CAPITAL AND RESERVES
Called up share capital 70 70
Capital redemption reserve 30 30
Retained earnings 356,070 319,280
SHAREHOLDERS' FUNDS 356,170 319,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 4 April 2024 and were signed on its behalf by:




P Bowskill - Director


Millframe Fine Arts Limited (Registered number: 02819313)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Millframe Fine Arts 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.
Plant and machinery etc - 25% 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Millframe Fine Arts Limited (Registered number: 02819313)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 45,859
Additions 717
At 31 October 2023 46,576
DEPRECIATION
At 1 November 2022 44,946
Charge for year 484
At 31 October 2023 45,430
NET BOOK VALUE
At 31 October 2023 1,146
At 31 October 2022 913

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 213 433

6. CURRENT ASSET INVESTMENTS
31.10.23 31.10.22
£    £   
Listed investments 934,142 929,115

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 81 89
Other creditors 1,128,026 1,110,842
1,128,107 1,110,931

Millframe Fine Arts Limited

Report of the Accountant to the Directors of
Millframe Fine Arts Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2023 set out on pages one to four and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.






Carol Willis FCCA
Kings Cottage
London Road
Barkway
Royston
Hertfordshire
SG8 8EZ


Date: .............................................