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REGISTERED NUMBER: 11152241 (England and Wales)















Milverton Sawmills Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Milverton Sawmills Limited (Registered number: 11152241)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Milverton Sawmills Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: L J Wadham
S J Wadham



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 11152241 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
31 Fore Street
Taunton
Somerset
TA1 1HN

Milverton Sawmills Limited (Registered number: 11152241)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 12,885 15,878

CURRENT ASSETS
Debtors 3,889 4,116
Cash at bank 1,450 245
5,339 4,361
CREDITORS
Amounts falling due within one year 31,705 37,333
NET CURRENT LIABILITIES (26,366 ) (32,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,481

)

(17,094

)

PROVISIONS FOR LIABILITIES 1,080 1,325
NET LIABILITIES (14,561 ) (18,419 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (14,563 ) (18,421 )
SHAREHOLDERS' FUNDS (14,561 ) (18,419 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Milverton Sawmills Limited (Registered number: 11152241)

Abridged Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





S J Wadham - Director


Milverton Sawmills Limited (Registered number: 11152241)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Milverton Sawmills 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.

The financial statements have been prepared on a going concern basis which assumes the continued support of the company's directors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and Straight line over 3 years

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 ) .

Milverton Sawmills Limited (Registered number: 11152241)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 36,555
DEPRECIATION
At 1 April 2023 20,677
Charge for year 2,993
At 31 March 2024 23,670
NET BOOK VALUE
At 31 March 2024 12,885
At 31 March 2023 15,878