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REGISTERED NUMBER: 10068201 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

MILLGROVE CAPITAL LIMITED

MILLGROVE CAPITAL LIMITED (REGISTERED NUMBER: 10068201)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

MILLGROVE CAPITAL LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: M J Pearcey
N Humphries





REGISTERED OFFICE: HAYVENHURSTS
Fairway House Links Business Park
St.Mellons
Cardiff
CF3 0LT





REGISTERED NUMBER: 10068201 (England and Wales)





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

MILLGROVE CAPITAL LIMITED (REGISTERED NUMBER: 10068201)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 5 1,755,671 1,755,671

CURRENT ASSETS
Debtors 6 32,026 1,669
Cash at bank 27,315 2,626
59,341 4,295
CREDITORS
Amounts falling due within one year 7 (307,498 ) (489,029 )
NET CURRENT LIABILITIES (248,157 ) (484,734 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,507,514

1,270,937

CREDITORS
Amounts falling due after more than one
year

8

(1,165,541

)

(938,333

)
NET ASSETS 341,973 332,604

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 341,873 332,504
341,973 332,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:




M J Pearcey - Director



N Humphries - Director


MILLGROVE CAPITAL LIMITED (REGISTERED NUMBER: 10068201)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Millgrove Capital 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The financial statements are prepared under the going concern basis. The directors believe this is appropriate as they believe that the company has the necessary resources at its disposal to meet its liabilities as they fall due.

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MILLGROVE CAPITAL LIMITED (REGISTERED NUMBER: 10068201)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,755,671
NET BOOK VALUE
At 30 April 2024 1,755,671
At 30 April 2023 1,755,671

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 28,500 -
Other debtors 1,000 -
Prepayments 2,526 1,669
32,026 1,669

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,000 60,000
Social security and other taxes 17,831 11,188
Directors' current accounts 251,000 409,000
Accrued expenses 8,667 8,841
307,498 489,029

The directors loan account is interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 35,000 60,000
Bank loans - 2-5 years 443,041 160,833
Bank loans more 5 yr by instal 687,500 717,500
1,165,541 938,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 687,500 717,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,195,541 998,333

10. ULTIMATE CONTROLLING PARTY

The directors consider that there is no ultimate controlling party as they each hold a 50% shareholding in the Company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Millgrove Capital Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Millgrove Capital Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Millgrove Capital Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Millgrove Capital Limited and state those matters that we have agreed to state to the Board of Directors of Millgrove Capital Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Millgrove Capital Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Millgrove Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Millgrove Capital Limited. You consider that Millgrove Capital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Millgrove Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT


10 September 2024