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COMPANY REGISTRATION NUMBER: 03483450
THE MILL HOUSE GROUP LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
THE MILL HOUSE GROUP LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
THE MILL HOUSE GROUP LTD
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr J R Warren
Company secretary
Mrs L P Warren
Registered office
Mill House
Selsfield Common
West Hoathly
West Sussex
RH19 4LW
Accountants
UHY Hacker Young
Chartered accountants
168 Church Road
Hove
BN3 2DL
THE MILL HOUSE GROUP LTD
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
183
245
Current assets
Debtors
5
87
Cash at bank and in hand
19,965
23,209
---------
---------
20,052
23,209
Creditors: amounts falling due within one year
6
639
3,433
---------
---------
Net current assets
19,413
19,776
---------
---------
Total assets less current liabilities
19,596
20,021
Provisions
Taxation including deferred tax
47
47
---------
---------
Net assets
19,549
19,974
---------
---------
THE MILL HOUSE GROUP LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
19,449
19,874
---------
---------
Shareholders funds
19,549
19,974
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 July 2024 , and are signed on behalf of the board by:
Mr J R Warren
Director
Company registration number: 03483450
THE MILL HOUSE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mill House, Selsfield Common, West Hoathly,West Sussex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's director.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The director believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the value of commissions for services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation 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:
Fixture & fitting
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 January 2023 and 31 December 2023
25,840
25,840
---------
---------
Depreciation
At 1 January 2023
25,595
25,595
Charge for the year
62
62
---------
---------
At 31 December 2023
25,657
25,657
---------
---------
Carrying amount
At 31 December 2023
183
183
---------
---------
At 31 December 2022
245
245
---------
---------
5. Debtors
2023
2022
£
£
Other debtors
87
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,807
Other creditors
639
626
----
-------
639
3,433
----
-------
7. Director's advances, credits and guarantees
As at 31 December 2023 the company owed the director £39 (2022: £26).
8. Related party transactions
The company was under the control of Mr J R Warren throughout the current and previous year. Mr J R Warren is the managing director and majority shareholder.