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REGISTERED NUMBER: 00999399 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Mills Parkes & Colledge Limited

Mills Parkes & Colledge Limited (Registered number: 00999399)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mills Parkes & Colledge Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Mills
Mrs S Mills





SECRETARY: A Mills





REGISTERED OFFICE: 10 The Grove
Hartlepool
TS26 9NE





REGISTERED NUMBER: 00999399 (England and Wales)





ACCOUNTANTS: KING HOPE
CHARTERED ACCOUNTANTS
18 Scarborough Street
Hartlepool
TS24 7DA

Mills Parkes & Colledge Limited (Registered number: 00999399)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17 22
Investment property 5 350,000 400,000
350,017 400,022

CURRENT ASSETS
Debtors 6 (167 ) 1,867
Cash at bank 26,242 26,587
26,075 28,454
CREDITORS
Amounts falling due within one year 7 57,233 55,078
NET CURRENT LIABILITIES (31,158 ) (26,624 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,859

373,398

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 214,870 264,870
Retained earnings 103,889 108,428
SHAREHOLDERS' FUNDS 318,859 373,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:



A Mills - Director


Mills Parkes & Colledge Limited (Registered number: 00999399)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mills Parkes & Colledge 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment properties are shown at fair valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Profit and Loss Account. Deferred tax is provided on all such gains.
The directors consider it prudent to transfer the surplus less related deferred tax to a non-distributable fair value reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Rental income
Income from operating leases is recognised in the profit and loss account in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Mills Parkes & Colledge Limited (Registered number: 00999399)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 588 755 1,343
DEPRECIATION
At 1 January 2023 583 738 1,321
Charge for year 1 4 5
At 31 December 2023 584 742 1,326
NET BOOK VALUE
At 31 December 2023 4 13 17
At 31 December 2022 5 17 22

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 400,000
Revaluations (50,000 )
At 31 December 2023 350,000
NET BOOK VALUE
At 31 December 2023 350,000
At 31 December 2022 400,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 350,000

All of the company's investment properties are available for use in operating leases.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors (175 ) 1,859
Other debtors 8 8
(167 ) 1,867

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 5,964 15,683
Other creditors 51,269 39,395
57,233 55,078

Mills Parkes & Colledge Limited (Registered number: 00999399)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. OTHER FINANCIAL COMMITMENTS

A dividend for the year of £25,000 was declared on 25 March 2024. This is not provided for in the accounts.