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Registration number: 03903060



Mill Dam Consulting Limited
Annual Report and
Unaudited Financial Statements

31 December 2023

 

Mill Dam Consulting Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Mill Dam Consulting Limited

Balance Sheet
31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,269

657

Current assets

 

Debtors

5

12,660

3,003

Cash at bank and in hand

 

62,039

101,497

 

74,699

104,500

Creditors: Amounts falling due within one year

6

(6,448)

(13,162)

Net current assets

 

68,251

91,338

Total assets less current liabilities

 

69,520

91,995

Provisions for liabilities

(240)

(125)

Net assets

 

69,280

91,870

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

69,279

91,869

Shareholders' funds

 

69,280

91,870

 

Mill Dam Consulting Limited

Balance Sheet
31 December 2023

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 September 2024
 

.........................................
Mr R J Senior
Director

Company Registration Number: 03903060

 

Mill Dam Consulting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 All Saints Court
38 Manor Street
Otley
West Yorkshire
LS21 1AX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The Company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Mill Dam Consulting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

Mill Dam Consulting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2022 - 1).

 

Mill Dam Consulting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2023

5,316

5,316

Additions

932

932

At 31 December 2023

6,248

6,248

Depreciation

At 1 January 2023

4,659

4,659

Charge for the year

320

320

At 31 December 2023

4,979

4,979

Carrying amount

At 31 December 2023

1,269

1,269

At 31 December 2022

657

657

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,660

3,003

 

12,660

3,003

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

45

374

Taxation and social security

6,310

12,627

Other creditors

93

161

6,448

13,162

 

Mill Dam Consulting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Related party transactions

Director's remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.
The directors who are also shareholders receive dividends as part of this remuneration package.