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REGISTERED NUMBER: 10506217 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Miles Franklin Group Ltd

Miles Franklin Group Ltd (Registered number: 10506217)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Miles Franklin Group Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: J M Franklin





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 10506217 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Miles Franklin Group Ltd (Registered number: 10506217)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,217,318 3,913,685

CURRENT ASSETS
Debtors 5 223,261 300,153
Cash at bank 8,928 82,349
232,189 382,502
CREDITORS
Amounts falling due within one year 6 2,746,984 2,625,295
NET CURRENT LIABILITIES (2,514,795 ) (2,242,793 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,702,523 1,670,892

CREDITORS
Amounts falling due after more than one year 7 (1,273,425 ) (1,298,510 )

PROVISIONS FOR LIABILITIES (42,762 ) -
NET ASSETS 386,336 372,382

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 386,236 372,282
SHAREHOLDERS' FUNDS 386,336 372,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 director and authorised for issue on 29 August 2024 and were signed by:




J M Franklin - Director


Miles Franklin Group Ltd (Registered number: 10506217)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Miles Franklin Group Ltd 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.

Turnover
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 is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

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.

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 10 (2022 - 6 ) .

Miles Franklin Group Ltd (Registered number: 10506217)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2022 3,728,633 78,054 143,765 3,950,452
Additions 425,630 3,037 18,250 446,917
Disposals - - (143,765 ) (143,765 )
At 30 November 2023 4,154,263 81,091 18,250 4,253,604
DEPRECIATION
At 1 December 2022 - 19,307 17,460 36,767
Charge for year - 16,066 912 16,978
Eliminated on disposal - - (17,459 ) (17,459 )
At 30 November 2023 - 35,373 913 36,286
NET BOOK VALUE
At 30 November 2023 4,154,263 45,718 17,337 4,217,318
At 30 November 2022 3,728,633 58,747 126,305 3,913,685

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 8,020 180,153
Other debtors 211,456 120,000
Prepayments and accrued income 3,785 -
223,261 300,153

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors 29,340 435,510
Tax 100,555 44,304
Social security and other taxes 17,874 24,496
VAT 46,684 38,883
Other creditors 136,429 89,672
Directors' current accounts 2,400,952 1,987,280
Accruals and deferred income 5,150 5,150
2,746,984 2,625,295

Miles Franklin Group Ltd (Registered number: 10506217)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 10,000 35,000
Bank loans - 2-5 years 5,000 -
Bank loans more 5 yr by instal 1,258,425 -
Trade creditors - 5,150
Other creditors - 1,258,360
1,273,425 1,298,510

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,258,425 -

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 1,283,425 -

The bank loan is secured against the properties to which the loan relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1.00 100 100

10. RESERVES
Retained
earnings
£   

At 1 December 2022 372,282
Profit for the year 14,954
Dividends (1,000 )
At 30 November 2023 386,236