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REGISTERED NUMBER: 08177989 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

The Milford Collection Limited

The Milford Collection Limited (Registered number: 08177989)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Milford Collection Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: W T Halford
D C Blower
J S Blower
J R Blower





SECRETARY:





REGISTERED OFFICE: Myrick House
Hendomen
Montgomery
Powys
SY15 6EZ





REGISTERED NUMBER: 08177989 (England and Wales)





ACCOUNTANTS: Corfield Accountancy Limited
Chartered Accountants
Myrick House
Hendomen
Montgomery
Powys
SY15 6EZ

The Milford Collection Limited (Registered number: 08177989)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 619,419 143,622
619,419 143,622

CURRENT ASSETS
Stocks 599,181 591,429
Debtors 6 158,838 240,662
Cash at bank and in hand 1,786 102,430
759,805 934,521
CREDITORS
Amounts falling due within one year 7 447,161 342,962
NET CURRENT ASSETS 312,644 591,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

932,063

735,181

CREDITORS
Amounts falling due after more than one
year

8

543,482

359,008
NET ASSETS 388,581 376,173

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 30,000 30,000
Retained earnings 358,481 346,073
388,581 376,173

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 Milford Collection Limited (Registered number: 08177989)

Balance Sheet - continued
30 April 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





D C Blower - Director


The Milford Collection Limited (Registered number: 08177989)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

The Milford Collection 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013 has been amortised evenly over its estimated useful life of ten years.

Intangible assets
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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 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 Income Statement, 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.


The Milford Collection Limited (Registered number: 08177989)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 192,000
AMORTISATION
At 1 May 2023
and 30 April 2024 192,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

The Milford Collection Limited (Registered number: 08177989)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 95,675 232,780 328,455
Additions 498,035 15,469 513,504
Disposals - (530 ) (530 )
At 30 April 2024 593,710 247,719 841,429
DEPRECIATION
At 1 May 2023 15,281 169,552 184,833
Charge for year 12,405 25,302 37,707
Eliminated on disposal - (530 ) (530 )
At 30 April 2024 27,686 194,324 222,010
NET BOOK VALUE
At 30 April 2024 566,024 53,395 619,419
At 30 April 2023 80,394 63,228 143,622

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 117,568 145,507
Other debtors 41,270 95,155
158,838 240,662

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 180,321 41,336
Trade creditors 67,737 50,100
Taxation and social security 41,550 99,805
Other creditors 157,553 151,721
447,161 342,962

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 368,959 112,190
Other creditors 174,523 246,818
543,482 359,008

The Milford Collection Limited (Registered number: 08177989)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.4.24 30.4.23
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 143,112 -

Repayable by instalments
Bank loans more 5 yr by instal 151,421 4,367

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdrafts 86,063 5
Bank loans 463,217 153,521
549,280 153,526

The bank loans are secured by fixed charges over the properties concerned. The overdraft is secured by a fixed and floating charge over all assets.