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REGISTERED NUMBER: 08370220 (England and Wales)















MCMILLAN ALLOYS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






MCMILLAN ALLOYS LIMITED (REGISTERED NUMBER: 08370220)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCMILLAN ALLOYS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: J G McMillan





REGISTERED OFFICE: Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG





REGISTERED NUMBER: 08370220 (England and Wales)





ACCOUNTANTS: Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG

MCMILLAN ALLOYS LIMITED (REGISTERED NUMBER: 08370220)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,295 34,940

CURRENT ASSETS
Stocks 3,000 2,000
Debtors 5 51,402 42,698
Cash at bank and in hand 31,919 31,624
86,321 76,322
CREDITORS
Amounts falling due within one year 6 31,745 33,055
NET CURRENT ASSETS 54,576 43,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,871

78,207

CREDITORS
Amounts falling due after more than one
year

7

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES (2,336 ) (6,601 )
NET ASSETS 48,702 45,773

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48,602 45,673
SHAREHOLDERS' FUNDS 48,702 45,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MCMILLAN ALLOYS LIMITED (REGISTERED NUMBER: 08370220)

BALANCE SHEET - continued
31ST DECEMBER 2023


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st August 2024 and were signed by:





J G McMillan - Director


MCMILLAN ALLOYS LIMITED (REGISTERED NUMBER: 08370220)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

McMillan Alloys Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no significant judgements that have a material effect on the financial statements nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period.

Turnover
Turnover represents the value of goods and services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MCMILLAN ALLOYS LIMITED (REGISTERED NUMBER: 08370220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023
and 31st December 2023 107,028 1,496 45,150 2,333 156,007
DEPRECIATION
At 1st January 2023 73,615 374 45,146 1,932 121,067
Charge for year 21,976 374 - 295 22,645
At 31st December 2023 95,591 748 45,146 2,227 143,712
NET BOOK VALUE
At 31st December 2023 11,437 748 4 106 12,295
At 31st December 2022 33,413 1,122 4 401 34,940

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,079 33,030
Prepayments 10,323 9,668
51,402 42,698

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,217 8,741
Corporation tax payable 7,868 -
Social security and other taxes 5,570 7,174
Other creditors 329 304
Directors' current accounts 2,343 3,648
Accrued expenses 3,418 3,188
31,745 33,055

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,833 15,833
15,833 25,833