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Registered number: 13991982









M&E MILLS MANUFACTURING LTD (PREVIOUSLY M&E MILLS MEDIA LTD)









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
M&E MILLS MANUFACTURING LTD
REGISTERED NUMBER: 13991982

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
468,506
-

  
468,506
-

Current assets
  

Stocks
  
60,431
-

Debtors: amounts falling due within one year
 5 
149,330
10,000

Bank and cash balances
  
41,932
-

  
251,693
10,000

Creditors: amounts falling due within one year
 6 
(789,803)
-

Net current (liabilities)/assets
  
 
 
(538,110)
 
 
10,000

Total assets less current liabilities
  
(69,604)
10,000

Provisions for liabilities
  

Deferred tax
 7 
(117,127)
-

Net (liabilities)/assets
  
(186,731)
10,000


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
(196,731)
-

  
(186,731)
10,000


Page 1

 
M&E MILLS MANUFACTURING LTD
REGISTERED NUMBER: 13991982
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2024.


M Mills
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 

 
M&E MILLS MANUFACTURING LTD


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023



Called up share capital
Profit and loss account
Total equity


£
£
£



At 1 January 2022
10,000
-
10,000





At 1 January 2023
10,000
-
10,000





Loss for the year
-
(196,731)
(196,731)



At 31 December 2023
10,000
(196,731)
(186,731)



The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
M&E MILLS MANUFACTURING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

M&E Mills Manufacturing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 250 Tottenham Court Road, London, W1T 7QZ. The company was previously known as M&E Mills Media Ltd.
The company commenced trading on 1 December 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
M&E MILLS MANUFACTURING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

 
2.5

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
20% Straight Line
Fixtures and fittings
-
33% Straight Line

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
M&E MILLS MANUFACTURING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price. 

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from other third parties and related parties. 


3.


Employees

2023
2022
£
£

Wages and salaries
82,587
-


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2



Employees
25
-

27
2

Page 6

 
M&E MILLS MANUFACTURING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


Additions
472,858
3,000
475,858



At 31 December 2023

472,858
3,000
475,858



Depreciation


Charge for the year on owned assets
7,275
77
7,352



At 31 December 2023

7,275
77
7,352



Net book value



At 31 December 2023
465,583
2,923
468,506



At 31 December 2022
-
-
-


5.


Debtors

2023
2022
£
£


Trade debtors
19,970
-

Amounts owed by group undertakings
-
10,000

Other debtors
29,918
-

Prepayments
99,442
-

149,330
10,000


Page 7

 
M&E MILLS MANUFACTURING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
84,245
-

Amounts owed to group undertakings
648,836
-

Other taxation and social security
22,164
-

Accruals
34,558
-

789,803
-



7.


Deferred taxation




2023


£






Charged to profit or loss
(117,127)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(117,127)
-


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000  Ordinary share capital shares of £10.00 each
10,000
10,000



9.


Controlling party

The immediate parent undertaking is M&E MIlls Holdings Ltd by virtue of a 100% interest in the total issued share capital of Deliciously Ella Ltd. M&E Mills Holdings Ltd is incorporated in England and Wales, whose registered office is located at 250 Tottenham Court Road, London, W1T 7QZ. 
The ultimate parent undertaking largest group to consolidate these financial statements is M&E Mills Limited. Copies of the M&E Mills Limited consolidated financial statements are available from 250 Tottenham Court Road, London, W1T 7QZ.

Page 8

 
M&E MILLS MANUFACTURING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 July 2024 by Richard Paul (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

 
Page 9