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REGISTERED NUMBER: 02717505 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

MILLER INDUSTRIAL CLADDING LIMITED

MILLER INDUSTRIAL CLADDING LIMITED (REGISTERED NUMBER: 02717505)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


MILLER INDUSTRIAL CLADDING LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: Mr J V Ash
Mr T Lees
Mr C M Collett





SECRETARY: Mr J V Ash





REGISTERED OFFICE: Miller House
Premier Estate
The Leys
Brierley Hill
West Midlands
DY5 3UP





REGISTERED NUMBER: 02717505 (England and Wales)





ACCOUNTANTS: Wright & Co Partnership Limited
Chartered Accountants
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ

MILLER INDUSTRIAL CLADDING LIMITED (REGISTERED NUMBER: 02717505)

ABRIDGED BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,640 11,043

CURRENT ASSETS
Stocks 61,357 12,404
Debtors 550,623 483,038
Cash at bank 438,433 272,856
1,050,413 768,298
CREDITORS
Amounts falling due within one year 654,723 444,727
NET CURRENT ASSETS 395,690 323,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,330

334,614

CREDITORS
Amounts falling due after more than one year 16,237 -
NET ASSETS 409,093 334,614

CAPITAL AND RESERVES
Called up share capital 2,040 2,040
Retained earnings 407,053 332,574
SHAREHOLDERS' FUNDS 409,093 334,614

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 December 2023 and were signed on its behalf by:





Mr J V Ash - Director


MILLER INDUSTRIAL CLADDING LIMITED (REGISTERED NUMBER: 02717505)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Miller Industrial Cladding 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at cost of materials and labour including a proportion of overheads.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 18,309
Additions 26,165
At 31 May 2023 44,474
DEPRECIATION
At 1 June 2022 7,266
Charge for year 7,568
At 31 May 2023 14,834
NET BOOK VALUE
At 31 May 2023 29,640
At 31 May 2022 11,043

MILLER INDUSTRIAL CLADDING LIMITED (REGISTERED NUMBER: 02717505)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 26,165
At 31 May 2023 26,165
DEPRECIATION
Charge for year 4,905
At 31 May 2023 4,905
NET BOOK VALUE
At 31 May 2023 21,260

5. CONTINGENT LIABILITIES

There is a fixed and floating charge on the assets of the company in respect of all debts, incurred by the company, due to J. Ash, R. Miller, S. Green and Collclad Limited.

6. RELATED PARTY DISCLOSURES

During the year the company incurred, in the normal course of business, charges for goods and services amounting to £115,598 (2022 - £78,242) and invoiced, for goods and services, £211,202 (2022 - £150,416) to companies with a director in common. At 31st May 2023 the company was owed £83,766 (2022 £38,540) by those companies.

Miller Industrial Cladding Limited is a wholly owned subsidiary of Collclad Limited.

During the year the company paid dividends of £300,000 (2022 - £75,000) to its parent company.

At 31st May 2023 the company owed £74,846 (2022 - £91,440 was owed) to its parent company.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr C M Collett by virtue of his ownership of the majority of the parent company's issued share capital.