4
31/08/2023
2023-08-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2022-09-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
03089504
2022-09-01
2023-08-31
03089504
2023-08-31
03089504
2022-08-31
03089504
2022-08-31
03089504
2021-08-31
03089504
core:PlantMachinery
2022-09-01
2023-08-31
03089504
core:FurnitureFittingsToolsEquipment
2022-09-01
2023-08-31
03089504
core:MotorVehicles
2022-09-01
2023-08-31
03089504
bus:RegisteredOffice
2022-09-01
2023-08-31
03089504
bus:LeadAgentIfApplicable
2022-09-01
2023-08-31
03089504
bus:Director1
2022-09-01
2023-08-31
03089504
bus:Director2
2022-09-01
2023-08-31
03089504
bus:CompanySecretary1
2022-09-01
2023-08-31
03089504
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-08-31
03089504
core:PlantMachinery
2022-08-31
03089504
core:FurnitureFittingsToolsEquipment
2022-08-31
03089504
core:MotorVehicles
2022-08-31
03089504
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-08-31
03089504
core:PlantMachinery
2023-08-31
03089504
core:FurnitureFittingsToolsEquipment
2023-08-31
03089504
core:MotorVehicles
2023-08-31
03089504
core:WithinOneYear
2023-08-31
03089504
core:WithinOneYear
2022-08-31
03089504
core:AfterOneYear
2023-08-31
03089504
core:AfterOneYear
2022-08-31
03089504
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-08-31
03089504
core:PlantMachinery
2022-08-31
03089504
core:FurnitureFittingsToolsEquipment
2022-08-31
03089504
core:MotorVehicles
2022-08-31
03089504
core:ShareCapital
2023-08-31
03089504
core:ShareCapital
2022-08-31
03089504
core:RevaluationReserve
2023-08-31
03089504
core:RevaluationReserve
2022-08-31
03089504
core:RetainedEarningsAccumulatedLosses
2023-08-31
03089504
core:RetainedEarningsAccumulatedLosses
2022-08-31
03089504
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-09-01
2023-08-31
03089504
bus:Director1
2022-08-31
03089504
bus:Director1
2023-08-31
03089504
bus:Director2
2022-08-31
03089504
bus:Director2
2023-08-31
03089504
bus:Director1
2021-08-31
03089504
bus:Director1
2022-08-31
03089504
bus:Director2
2021-08-31
03089504
bus:Director2
2022-08-31
03089504
bus:SmallEntities
2022-09-01
2023-08-31
03089504
bus:AuditExemptWithAccountantsReport
2022-09-01
2023-08-31
03089504
bus:FullAccounts
2022-09-01
2023-08-31
03089504
bus:SmallCompaniesRegimeForAccounts
2022-09-01
2023-08-31
03089504
bus:PrivateLimitedCompanyLtd
2022-09-01
2023-08-31
Company registration number:
03089504
Mill Street Properties Limited
Unaudited filleted financial statements
31 August 2023
Mill Street Properties Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
Mill Street Properties Limited
Directors and other information
|
|
|
|
Directors |
Mr Simon Ridgway |
|
|
Mr John Ridgway |
|
|
|
|
|
|
|
Secretary |
J A Ridgway |
|
|
|
|
|
|
|
Company number |
03089504 |
|
|
|
|
|
|
|
Registered office |
Old Mill Antiques Centre |
|
|
Mill Street |
|
|
Bridgnorth |
|
|
WV15 5AG |
|
|
|
|
|
|
|
Accountant |
R G Justice & Co |
|
|
36 Heath Street |
|
|
Stourbridge |
|
|
West Midlands |
|
|
DY8 1SB |
|
|
|
Mill Street Properties Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Mill Street Properties Limited
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Mill Street Properties Limited for the year ended 31 August 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Mill Street Properties Limited, as a body, in accordance with the terms of my engagement letter dated 1 November 2007. My work has been undertaken solely to prepare for your approval the financial statements of Mill Street Properties Limited and state those matters that we have agreed to state to the board of directors of Mill Street Properties Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Mill Street Properties Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Mill Street Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mill Street Properties Limited. You consider that Mill Street Properties Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Mill Street Properties Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
R G Justice & Co
Chartered Accountants
36 Heath Street
Stourbridge
West Midlands
DY8 1SB
14 March 2024
Mill Street Properties Limited
Statement of financial position
31 August 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
277,947 |
|
|
|
255,195 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
277,947 |
|
|
|
255,195 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
132,000 |
|
|
|
131,500 |
|
|
Debtors |
|
|
740 |
|
|
|
2,816 |
|
|
Cash at bank and in hand |
|
|
110,904 |
|
|
|
72,845 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
243,644 |
|
|
|
207,161 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
5 |
(
360,826) |
|
|
|
(
340,930) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
117,182) |
|
|
|
(
133,769) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
160,765 |
|
|
|
121,426 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
6 |
|
|
(
32,297) |
|
|
|
(
27,500) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
128,468 |
|
|
|
93,926 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
2 |
|
|
|
2 |
Revaluation reserve |
|
|
|
|
180,000 |
|
|
|
180,000 |
Profit and loss account |
|
|
|
|
(
51,534) |
|
|
|
(
86,076) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
128,468 |
|
|
|
93,926 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors
and authorised for issue on
14 March 2024
, and are signed on behalf of the board by:
Mr John Ridgway
Director
Company registration number:
03089504
Mill Street Properties Limited
Notes to the financial statements
Year ended 31 August 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Old Mill Antiques Centre, Mill Street, Bridgnorth, WV15 5AG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
No depreciation is charged |
|
|
Plant and machinery |
- |
20 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
20 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 September 2022 |
248,872 |
4,694 |
17,043 |
18,998 |
|
|
|
|
Additions |
- |
- |
- |
29,995 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 August 2023 |
248,872 |
4,694 |
17,043 |
48,993 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 September 2022 |
- |
4,672 |
16,967 |
12,773 |
|
|
|
|
Charge for the year |
- |
4 |
15 |
7,224 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 August 2023 |
- |
4,676 |
16,982 |
19,997 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 August 2023 |
248,872 |
18 |
61 |
28,996 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 August 2022 |
248,872 |
22 |
76 |
6,225 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
|
|
|
|
|
|
|
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
At 31 August 2023 |
|
|
|
|
|
|
|
|
Aggregate cost |
248,872 |
4,694 |
17,043 |
48,993 |
319,602 |
|
|
|
Aggregate depreciation |
- |
(4,676) |
(16,982) |
(19,997) |
(41,655) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
248,872 |
18 |
61 |
28,996 |
277,947 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
At 31 August 2022 |
|
|
|
|
|
|
|
|
Aggregate cost |
248,872 |
4,694 |
17,043 |
18,998 |
289,607 |
|
|
|
Aggregate depreciation |
- |
(4,672) |
(16,967) |
(12,773) |
(34,412) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
248,872 |
22 |
76 |
6,225 |
255,195 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
5.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
10,000 |
|
Trade creditors |
|
158,200 |
146,300 |
|
Social security and other taxes |
|
7,318 |
6,450 |
|
Other creditors |
|
185,308 |
178,180 |
|
|
|
_______ |
_______ |
|
|
|
360,826 |
340,930 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
17,500 |
27,500 |
|
Other creditors |
|
14,797 |
- |
|
|
|
_______ |
_______ |
|
|
|
32,297 |
27,500 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Instalments on Bounce Back Loan are repayable @ 2.5% interest.
Hire purchase instalments are payable over the next 4 years.
7.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Simon Ridgway |
(
157,295) |
(
2,000) |
(
159,295) |
|
|
|
|
Mr John Ridgway |
(
18,481) |
- |
(
18,481) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
175,776) |
(
2,000) |
(
177,776) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Simon Ridgway |
(
157,295) |
- |
(
157,295) |
|
|
|
|
Mr John Ridgway |
(
18,481) |
- |
(
18,481) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
175,776) |
- |
(
175,776) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
8.
Controlling party
All the directors hold a controlling interest in the company.