MILLBROOKE ENTERPRISES CIC

Company Registration Number:
10017281 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

MILLBROOKE ENTERPRISES CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

MILLBROOKE ENTERPRISES CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

S P Bungey
C J Conroy
L A Hollyhead
J Moore


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 July 2024

And signed on behalf of the board by:
Name: S P Bungey
Status: Director

MILLBROOKE ENTERPRISES CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 63,776 48,612
Cost of sales: ( 26,646 ) ( 1,649 )
Gross profit(or loss): 37,130 46,963
Distribution costs: ( 27,637 ) ( 23,063 )
Administrative expenses: ( 12,538 ) ( 13,590 )
Other operating income: 3,500
Operating profit(or loss): 455 10,310
Profit(or loss) before tax: 455 10,310
Profit(or loss) for the financial year: 455 10,310

MILLBROOKE ENTERPRISES CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,295 0
Total fixed assets: 1,295 0
Current assets
Stocks: 4 88 51
Debtors: 5 2,010 0
Cash at bank and in hand: 18,472 22,713
Total current assets: 20,570 22,764
Creditors: amounts falling due within one year: 6 ( 21,864 ) ( 22,763 )
Net current assets (liabilities): (1,294) 1
Total assets less current liabilities: 1 1
Total net assets (liabilities): 1 1
Capital and reserves
Called up share capital: 1 1
Total Shareholders' funds: 1 1

The notes form part of these financial statements

MILLBROOKE ENTERPRISES CIC

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 29 July 2024
and signed on behalf of the board by:

Name: S P Bungey
Status: Director

The notes form part of these financial statements

MILLBROOKE ENTERPRISES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

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

    Tangible fixed assets depreciation policy

    Depreciation is calculated on the straight line method for the following asset: Plant and Machinery 25% on costAssets with a value of more than £500 will be capitalised.

    Other accounting policies

    StocksStocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.Financial instrumentsThe company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.Trade and other debtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.Cash and cash equivalentsCash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.Trade and other creditorsShort term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measuredsubsequently at amortised cost using the effective interest method.TaxationTaxation 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.Deferred taxDeferred 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 measuredusing 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.

MILLBROOKE ENTERPRISES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 1

MILLBROOKE ENTERPRISES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 1,003 1,003
Additions 1,727 1,727
Disposals
Revaluations
Transfers
At 31 March 2024 2,730 2,730
Depreciation
At 1 April 2023 1,003 1,003
Charge for year 432 432
On disposals
Other adjustments
At 31 March 2024 1,435 1,435
Net book value
At 31 March 2024 1,295 1,295
At 31 March 2023 0 0

MILLBROOKE ENTERPRISES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 88 51
Total 88 51

MILLBROOKE ENTERPRISES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Other debtors 2,010 0
Total 2,010 0

MILLBROOKE ENTERPRISES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 21,864 22,763
Total 21,864 22,763

COMMUNITY INTEREST ANNUAL REPORT

MILLBROOKE ENTERPRISES CIC

Company Number: 10017281 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The objects of Millbrooke Enterprises CIC are to carry out activities which benefit the community and in particular (without limitation) to provide an income resource for the Isle of Wight Society for the Blind (Registered Charity no. 1149415) also known as “Sight for Wight”. Millbrooke Enterprises CIC currently operates a charity boutique/dress agency ‘Dress for Less’, located at 57 Pyle Street, Newport, Isle of Wight. The charity boutique is operated entirely by one manager plus volunteers, and provides an income stream for Isle of Wight Society for the Blind to support its range of activities and services to those affected by sight loss living on the Isle of Wight. It provides an opportunity for volunteering to make a positive contribution to the community, and another means of affording local people the opportunity to support the charitable work of Sight for Wight through their purchasing choices.

Consultation with stakeholders

The company’s stakeholders are Registered Charity no. 1149415, Isle of Wight Society for the Blind, “Sight for Wight”, its supporters and volunteers, plus residents of, and visitors of the Isle of Wight who buy from the shop. Visitors of the shop, supporters and volunteers of the charity are encouraged to talk to shop volunteers, or staff and volunteers of the charity with their ideas and suggestions. Periodically special events are hosted at the shop to encourage such consultations. Such consultation identified that there is a demand for a larger shop premises that the company subsequently acted upon.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 July 2024

And signed on behalf of the board by:
Name: S P Bungey
Status: Director