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Registration number: 13488499

S. Miller Contractors Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

S. Miller Contractors Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

S. Miller Contractors Ltd

(Registration number: 13488499)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

99,154

62,211

Current assets

 

Debtors

5

44,504

57,444

Cash at bank and in hand

 

13,129

50,504

 

57,633

107,948

Creditors: Amounts falling due within one year

6

(102,606)

(68,375)

Net current (liabilities)/assets

 

(44,973)

39,573

Total assets less current liabilities

 

54,181

101,784

Creditors: Amounts falling due after more than one year

6

(36,961)

(22,271)

Provisions for liabilities

(13,632)

(14,072)

Net assets

 

3,588

65,441

Capital and reserves

 

Called up share capital

1

1

Retained earnings

3,587

65,440

Shareholders' funds

 

3,588

65,441

 

S. Miller Contractors Ltd

(Registration number: 13488499)
Balance Sheet as at 30 June 2023

For the financial year ending 30 June 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 20 September 2024
 

S Miller
Director

   
     
 

S. Miller Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
13 Rubens Close
Basingstoke
Hampshire
RG21 3EL
England

These financial statements were authorised for issue by the director on 20 September 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

S. Miller Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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

Plant and machinery

25% reducing balance

Office equipment

33% straight line

Motor vehicles

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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

S. Miller Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

 

S. Miller Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

52,832

1,140

29,103

83,075

Additions

60,717

1,527

8,167

70,411

At 30 June 2023

113,549

2,667

37,270

153,486

Depreciation

At 1 July 2022

13,208

380

7,276

20,864

Charge for the year

25,085

885

7,498

33,468

At 30 June 2023

38,293

1,265

14,774

54,332

Carrying amount

At 30 June 2023

75,256

1,402

22,496

99,154

At 30 June 2022

39,624

760

21,827

62,211

5

Debtors

2023
£

2022
£

Trade debtors

21,600

29,724

Other debtors

22,904

27,720

44,504

57,444

6

Creditors

Due within one year

Note

2023
£

2022
£

 

Loans and borrowings

7

12,430

7,366

Trade creditors

 

4,800

-

Social security and other taxes

 

80,275

45,062

Accruals

 

5,101

7,150

Corporation tax liability

-

8,797

 

102,606

68,375

Due after one year

 

Loans and borrowings

7

36,961

22,271

 

S. Miller Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

36,961

22,271

Non-current loans and borrowing includes secured liabilities of £36,961 (2022: £22,271). The liabilities are secured on the underlying assets.

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

12,430

7,366

Current loans and borrowing includes secured liabilities of £21,800 (2022: £7,366). The liabilities are secured on the underlying assets.

8

Related party transactions

During the year a loan was made to the director. No interest was charged. The loan was repayable on demand.

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

S Miller

27,499

68,191

(72,786)

22,904

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

S Miller

-

77,134

(49,635)

27,499