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REGISTERED NUMBER: 10414451 (England and Wales)











MILLIFONT GUEST HOUSE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023






MILLIFONT GUEST HOUSE LIMITED (REGISTERED NUMBER: 10414451)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


MILLIFONT GUEST HOUSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: G S Cheema
Mrs O Cheema





REGISTERED OFFICE: 20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE





REGISTERED NUMBER: 10414451 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

MILLIFONT GUEST HOUSE LIMITED (REGISTERED NUMBER: 10414451)

BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,665 29,363

CURRENT ASSETS
Debtors 5 22,349 19,020
Cash at bank 5,777 14,142
28,126 33,162
CREDITORS
Amounts falling due within one year 6 8,636 8,263
NET CURRENT ASSETS 19,490 24,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,155

54,262

CREDITORS
Amounts falling due after more than
one year

7

-

12,334
NET ASSETS 44,155 41,928

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 44,055 41,828
SHAREHOLDERS' FUNDS 44,155 41,928

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

MILLIFONT GUEST HOUSE LIMITED (REGISTERED NUMBER: 10414451)

BALANCE SHEET - continued
31ST OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd March 2024 and were signed on its behalf by:





Mrs O Cheema - Director


MILLIFONT GUEST HOUSE LIMITED (REGISTERED NUMBER: 10414451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

Millifont Guest House 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 and recognised when the services have been carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MILLIFONT GUEST HOUSE LIMITED (REGISTERED NUMBER: 10414451)

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


2. ACCOUNTING POLICIES - continued

Grant income recognition
Grant income has been recognised under the performance model.

Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1st November 2022
and 31st October 2023 26,426 39,778 66,204
DEPRECIATION
At 1st November 2022 5,285 31,556 36,841
Charge for year 2,643 2,055 4,698
At 31st October 2023 7,928 33,611 41,539
NET BOOK VALUE
At 31st October 2023 18,498 6,167 24,665
At 31st October 2022 21,141 8,222 29,363

The improvements are to convert the property to 8 self contained holiday lets. The improvements are to be written off over an estimated useful life of 10 years.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 22,349 19,020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,000
Taxation and social security 293 -
Other creditors 8,343 4,263
8,636 8,263

MILLIFONT GUEST HOUSE LIMITED (REGISTERED NUMBER: 10414451)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 12,334

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

During the year current accounts existed with companies with shared ownership.

The balance at the year end owed by companies with shared ownership was £19,020 (2022 - £19,020).

The balance at the year end owed to companies with shared ownership was £2,500 (2022 - £2,500).

The loans are interest free and fully repayable.