REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
MILLER INDUSTRIAL CLADDING LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
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. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2022 |
Additions |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
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. |