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Registered Number: 12242004
England and Wales

 

 

 

MILLER & LANCASTER LETTINGS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,349,732    1,068,408 
1,349,732    1,068,408 
Current assets      
Cash at bank and in hand 14,884    10,135 
Creditors: amount falling due within one year 4 (289,791)   (299,359)
Net current assets (274,907)   (289,224)
 
Total assets less current liabilities 1,074,825    779,184 
Creditors: amount falling due after more than one year 5 (745,571)   (745,571)
Net assets 329,254    33,613 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 329,154    33,513 
Shareholder's funds 329,254    33,613 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 April 2024 and were signed on its behalf by:


-------------------------------
Brian Lancaster
Director
1
General Information
Miller & Lancaster Lettings Limited is a private company, limited by shares, registered in England and Wales, registration number 12242004, registration address 13 Leander Avenue, Choppington, Northumberland, NE62 5AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Computer Equipment 20% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 April 2023 1,067,493    1,183    1,068,676 
Additions    
Disposals    
Revaluations 281,507      281,507 
At 31 March 2024 1,349,000    1,183    1,350,183 
Depreciation
At 01 April 2023   268    268 
Charge for year   183    183 
On disposals    
At 31 March 2024   451    451 
Net book values
Closing balance as at 31 March 2024 1,349,000    732    1,349,732 
Opening balance as at 01 April 2023 1,067,493    915    1,068,408 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 3,358    6,041 
Accrued Expenses 420    420 
Directors' Current Accounts 286,013    292,898 
289,791    299,359 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Long Term Bank Loans 745,571    745,571 
745,571    745,571 

6.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £288,013 (2023 - £292,898).

7.

Controlling party

For the whole of the period under review the company was under the control of Brian & Sara Lancaster, directors of the company.

2