Registered number
06348440
THE SURREY MILLING CENTRE LIMITED
Unaudited Accounts
31 December 2023
THE SURREY MILLING CENTRE LIMITED
Registered number: 06348440
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,016 2,686
Current assets
Stocks 900 900
Debtors 4 20,160 44,288
Cash at bank and in hand 2,853 3,330
23,913 48,518
Creditors: amounts falling due within one year 5 (1,355) (1,466)
Net current assets 22,558 47,052
Net assets 24,574 49,738
Capital and reserves
Called up share capital 3 3
Profit and loss account 24,571 49,735
Shareholders' funds 24,574 49,738
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
ALAN BESANT
Director
Approved by the board on 23 August 2024
THE SURREY MILLING CENTRE LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 138,601
At 31 December 2023 138,601
Depreciation
At 1 January 2023 135,915
Charge for the year 670
At 31 December 2023 136,585
Net book value
At 31 December 2023 2,016
At 31 December 2022 2,686
4 Debtors 2023 2022
£ £
Trade debtors 8,327 9,853
Other debtors 11,833 34,435
20,160 44,288
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 350 591
Taxation and social security costs 160 -
Other creditors 845 875
1,355 1,466
6 Other information
THE SURREY MILLING CENTRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
96 Elm Road
New Malden
Surrey
KT3 3HN
7 Related party transaction
A loan of £11,000 has been made to All Ceramics Ltd, a trading company in which the
the directors have an interest as shareholders. The loan was outstanding at the year end and
is unsecured and interest free.
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