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REGISTERED NUMBER: 06406319 (England and Wales)



















THE MILLERS GRINDING & TINNING COMPANY
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,380
Tangible assets 5 50,159 64,291
50,159 71,671

CURRENT ASSETS
Stocks 47,870 47,869
Debtors 6 875,829 779,631
Cash at bank and in hand 418,156 209,445
1,341,855 1,036,945
CREDITORS
Amounts falling due within one year 7 1,195,711 856,782
NET CURRENT ASSETS 146,144 180,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,303

251,834

CREDITORS
Amounts falling due after more than one
year

8

(70,833

)

(176,815

)

PROVISIONS FOR LIABILITIES (12,540 ) -
NET ASSETS 112,930 75,019

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 112,830 74,919
SHAREHOLDERS' FUNDS 112,930 75,019

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

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

The directors acknowledge their 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.

THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)

BALANCE SHEET - continued
31 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





Mr D R Broadbent - Director


THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)

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

1. STATUTORY INFORMATION

The Millers Grinding & Tinning Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06406319

Registered office: Unit 2, College Fields Bus Ctr
Prince George'S Rd
Merton
London
SW19 2PT

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

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

THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 11 ) .

THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 36,900
AMORTISATION
At 1 January 2023 29,520
Amortisation for year 7,380
At 31 December 2023 36,900
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 7,380

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 59,675 10,510 41,343 111,528
Additions 11,175 - - 11,175
At 31 December 2023 70,850 10,510 41,343 122,703
DEPRECIATION
At 1 January 2023 29,323 4,091 13,823 47,237
Charge for year 17,261 1,052 6,994 25,307
At 31 December 2023 46,584 5,143 20,817 72,544
NET BOOK VALUE
At 31 December 2023 24,266 5,367 20,526 50,159
At 31 December 2022 30,352 6,419 27,520 64,291

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 603,814 711,630
Other debtors 5,700 25,230
609,514 736,860

THE MILLERS GRINDING & TINNING COMPANY
LIMITED (REGISTERED NUMBER: 06406319)

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

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 266,315 42,771

Aggregate amounts 875,829 779,631

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 856,893 642,750
Taxation and social security 169,114 148,501
Other creditors 119,704 15,531
1,195,711 856,782

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 70,833 120,833
Amounts owed to group undertakings - 55,982
70,833 176,815

9. ULTIMATE CONTROLLING PARTY

Parent & Ultimate Parent Company
Millers Group Limited is regarded by the directors as being the parent company, the ultimate parent company is Millers Group Trustee Limited which is incorporated in England and Wales.

The registered office of the ultimate parent company is Unit 2, College Fields Business Centre, Prince Georges Road, London, SW19 2PT.