1 January 2023 false No description of principal activity Taxfiler 2024.1 NI055915business:PrivateLimitedCompanyLtd2023-01-012023-12-31 NI0559152022-12-31 NI0559152023-01-012023-12-31 NI055915business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 NI055915business:FilletedAccounts2023-01-012023-12-31 NI0559152023-12-31 NI055915business:Director12023-01-012023-12-31 NI055915business:Director22023-01-012023-12-31 NI055915business:CompanySecretary12023-01-012023-12-31 NI055915business:RegisteredOffice2023-01-012023-12-31 NI0559152022-12-31 NI055915core:WithinOneYear2023-12-31 NI055915core:WithinOneYear2022-12-31 NI055915core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 NI055915core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 NI055915core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 NI055915core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 NI055915core:PreviouslyStatedAmount2023-12-31 NI055915core:PreviouslyStatedAmount2022-12-31 NI055915business:SmallEntities2023-01-012023-12-31 NI055915countries:NorthernIreland2023-01-012023-12-31 NI055915core:PlantMachinery2023-01-012023-12-31 NI055915core:MotorVehicles2023-01-012023-12-31 NI055915core:FurnitureFittings2023-01-012023-12-31 NI055915core:ComputerEquipment2023-01-012023-12-31 NI055915core:PlantMachinery2022-12-31 NI055915core:MotorVehicles2022-12-31 NI055915core:FurnitureFittings2022-12-31 NI055915core:ComputerEquipment2022-12-31 NI055915core:PlantMachinery2023-12-31 NI055915core:MotorVehicles2023-12-31 NI055915core:FurnitureFittings2023-12-31 NI055915core:ComputerEquipment2023-12-31 NI055915core:AfterOneYear2023-12-31 NI055915core:AfterOneYear2022-12-31 NI0559152022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. NI055915 (Northern Ireland)
MILLWOOD CONSTRUCTION LTD Unaudited accounts for the year ended 31 December 2023
MILLWOOD CONSTRUCTION LTD Unaudited accounts Contents
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MILLWOOD CONSTRUCTION LTD Company Information for the year ended 31 December 2023
Directors
Desmond Johnston Cherith Johnston
Secretary
Desmond Johnston
Company Number
NI055915 (Northern Ireland)
Registered Office
COOLANE ROAD MILLWOOD LISBELLAW BT94 5HQ
Accountants
W F Lemon & Co Ltd 76 Main Street Lisnaskea Co Fermanagh BT92 0JD
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MILLWOOD CONSTRUCTION LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,424 
35,220 
Current assets
Debtors
8,414 
9,937 
Cash at bank and in hand
74,086 
129,630 
82,500 
139,567 
Creditors: amounts falling due within one year
(16,672)
(22,631)
Net current assets
65,828 
116,936 
Total assets less current liabilities
92,252 
152,156 
Provisions for liabilities
Deferred tax
(6,363)
(8,508)
Net assets
85,889 
143,648 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
75,889 
133,648 
Shareholders' funds
85,889 
143,648 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by
Desmond Johnston Director Company Registration No. NI055915
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MILLWOOD CONSTRUCTION LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
MILLWOOD CONSTRUCTION LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI055915. The registered office is COOLANE ROAD, MILLWOOD, LISBELLAW, BT94 5HQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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MILLWOOD CONSTRUCTION LTD Notes to the Accounts for the year ended 31 December 2023
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
120,756 
27,130 
4,739 
1,589 
154,214 
At 31 December 2023
120,756 
27,130 
4,739 
1,589 
154,214 
Depreciation
At 1 January 2023
106,780 
6,782 
4,739 
693 
118,994 
Charge for the year
3,485 
5,087 
- 
224 
8,796 
At 31 December 2023
110,265 
11,869 
4,739 
917 
127,790 
Net book value
At 31 December 2023
10,491 
15,261 
- 
672 
26,424 
At 31 December 2022
13,976 
20,348 
- 
896 
35,220 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,015 
9,937 
Amounts falling due after more than one year
Other debtors
1,399 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
412 
704 
VAT
3,153 
6,132 
Trade creditors
4,753 
1,647 
Taxes and social security
8,354 
12,408 
Loans from directors
- 
1,740 
16,672 
22,631 
7
Average number of employees
During the year the average number of employees was 2 (2022: 3).
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