MILLBAY INVESTMENT COMPANY LIMITED

Company Registration Number:
NI041852 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

MILLBAY INVESTMENT COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

MILLBAY INVESTMENT COMPANY LIMITED

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 81,700
Investments: 4 0 17,000
Total fixed assets: 0 98,700
Current assets
Cash at bank and in hand: 155,359 59,284
Total current assets: 155,359 59,284
Creditors: amounts falling due within one year:   (5,415) (3,961)
Net current assets (liabilities): 149,944 55,323
Total assets less current liabilities: 149,944 154,023
Total net assets (liabilities): 149,944 154,023
Capital and reserves
Called up share capital: 79,986 79,986
Share premium account: 18,726 18,726
Revaluation reserve:5015,688
Profit and loss account: 51,232 39,623
Shareholders funds: 149,944 154,023

The notes form part of these financial statements

MILLBAY INVESTMENT COMPANY LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 November 2023
and signed on behalf of the board by:

Name: T Hanna I Johnston
Status: Director

The notes form part of these financial statements

MILLBAY INVESTMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assetsTangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulateddepreciation and impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluationless any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in othercomprehensive income and accumulated in capital and reserves, except to the extent it reverses arevaluation decrease of the same asset previously recognised in profit or loss. A decrease in thecarrying amount of an asset as a result of revaluation is recognised in other comprehensive income tothe extent of any previously recognised revaluation increase accumulated in capital and reserves inrespect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gainsaccumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit orloss.DepreciationDepreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows:If there is an indication that there has been a significant change in depreciation rate, useful life orresidual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

MILLBAY INVESTMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

MILLBAY INVESTMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 81,700
Disposals (81,700)
At 31 October 2023 0
Net book value
At 31 October 2023 0
At 31 October 2022 81,700

MILLBAY INVESTMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Fixed investments

Investments£CostAt 1 November 2021 and 31 October 2022 22,500ImpairmentAt 1 November 2021 and 31 October 2022 5,500Carrying amountAt 31 October 2022 17,000At 31 October 2021 17,000

MILLBAY INVESTMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Revaluation reserve

2023
£
Balance at 01 November 2022 15,688
Surplus or deficit after revaluation (15,688)
Balance at 31 October 2023 0