Registered number
08298778
The Millpool (Coventry) Ltd
Filleted Accounts
30 November 2023
The Millpool (Coventry) Ltd
Registered number: 08298778
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,123 17,277
Current assets
Stocks 15,221 12,688
Debtors 4 6,760 36,869
Cash at bank and in hand 51,889 48,938
73,870 98,495
Creditors: amounts falling due within one year 5 (42,538) (26,691)
Net current assets 31,332 71,804
Total assets less current liabilities 46,455 89,081
Creditors: amounts falling due after more than one year 6 (15,967) (25,816)
Net assets 30,488 63,265
Capital and reserves
Called up share capital 100 100
Profit and loss account 30,388 63,165
Shareholders' funds 30,488 63,265
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.
J Carey
Director
Approved by the board on 20 August 2024
The Millpool (Coventry) Ltd
Notes to the Accounts
for the year ended 30 November 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land buildings over 5 years
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
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). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 19 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 120,947 21,946 3,173 146,066
Additions - 5,755 332 6,087
At 30 November 2023 120,947 27,701 3,505 152,153
Depreciation
At 1 December 2022 116,487 10,417 1,885 128,789
Charge for the year 4,460 3,457 324 8,241
At 30 November 2023 120,947 13,874 2,209 137,030
Net book value
At 30 November 2023 - 13,827 1,296 15,123
At 30 November 2022 4,460 11,529 1,288 17,277
4 Debtors 2023 2022
£ £
Trade debtors 3,843 5,818
Deferred tax asset 331 -
Brewery Bond 2,226 2,226
Other debtors 360 28,825
6,760 36,869
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 11,309 8,816
Taxation and social security costs 15,650 4,727
Other creditors 4,931 2,500
42,538 26,691
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,967 25,816
7 Other information
The Millpool (Coventry) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Hipswell Highway
Coventry
West Midlands
CV2 5FR
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