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Registered number: 06900440
Mill Co. Studios Limited
Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06900440
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 62,306 62,306
62,306 62,306
CURRENT ASSETS
Debtors 5 46,814 34,353
Cash at bank and in hand 11,065 6,740
57,879 41,093
Creditors: Amounts Falling Due Within One Year 6 (86,168 ) (56,045 )
NET CURRENT ASSETS (LIABILITIES) (28,289 ) (14,952 )
TOTAL ASSETS LESS CURRENT LIABILITIES 34,017 47,354
NET ASSETS 34,017 47,354
CAPITAL AND RESERVES
Called up share capital 7 25,000 25,000
Other reserves 2,456 2,456
Profit and Loss Account 6,561 19,898
SHAREHOLDERS' FUNDS 34,017 47,354
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Claire Martin
Director
31 July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mill Co. Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06900440 . The registered office is The Rose Lipman Building Studio 1, 43 De Beauvoir Road, London, England, N1 5SQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Reducing
Plant & Machinery 15% reducing
Fixtures & Fittings 10% Reducing
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: NIL)
1 -
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 3,229 70,441 73,670
As at 31 October 2023 3,229 70,441 73,670
Depreciation
As at 1 November 2022 - 11,364 11,364
As at 31 October 2023 - 11,364 11,364
Net Book Value
As at 31 October 2023 3,229 59,077 62,306
As at 1 November 2022 3,229 59,077 62,306
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 9,112 9,833
Deposits 19,125 19,125
HARA Loan Account 18,577 5,395
46,814 34,353
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 68,796 18,022
Corporation tax (1 ) (1 )
VAT 1,283 146
Other creditors (1) 4,000 25,000
License Deposits 9,779 8,000
Accruals and deferred income 1,360 4,188
Director's loan account 951 690
86,168 56,045
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 25,000 25,000
8. Ultimate Controlling Party
The company's ultimate controlling party is Mrs Claire Martin by virtue of her ownership of 100% of the issued share capital in the company.
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