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REGISTERED NUMBER: 10612329 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Millets Playbarn Limited

Millets Playbarn Limited (Registered number: 10612329)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Millets Playbarn Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: N J Carter
A D Carter





REGISTERED OFFICE: Hermes House
Fire Fly Avenue
Swindon
Wiltshire
SN2 2GA





REGISTERED NUMBER: 10612329 (England and Wales)

Millets Playbarn Limited (Registered number: 10612329)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 756,758 495,735
756,758 495,735

CURRENT ASSETS
Stocks 22,432 27,944
Debtors 7 16,692 16,433
Cash at bank and in hand 219,500 299,304
258,624 343,681
CREDITORS
Amounts falling due within one year 8 239,216 174,878
NET CURRENT ASSETS 19,408 168,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

776,166

664,538

CAPITAL AND RESERVES
Called up share capital 400,100 400,100
Retained earnings 376,066 264,438
776,166 664,538

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 16 August 2024 and were signed on its behalf by:




A D Carter - Director



N J Carter - Director


Millets Playbarn Limited (Registered number: 10612329)

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

1. STATUTORY INFORMATION

Millets Playbarn 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Sale of goods and services

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to either revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset.

Other income

Other income is recognised in the period to which it relates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Playbarn Improvements - 4% on a straight line basis
Playbarn Equipment - 10% on straight line basis
Office Equipment & Vehicles - 10% - 20% on straight line basis
Electrical Equipment - 4% on a straight line basis

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.


Millets Playbarn Limited (Registered number: 10612329)

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

3. ACCOUNTING POLICIES - continued
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.

Financial instruments
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares of options are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 19 ) .

5. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 February 2023
and 31 January 2024 2,205
AMORTISATION
At 1 February 2023
and 31 January 2024 2,205
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Millets Playbarn Limited (Registered number: 10612329)

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

6. TANGIBLE FIXED ASSETS
Short Playbarn Playbarn
leasehold Improvements Equipment
£    £    £   
COST
At 1 February 2023 3,632 129,715 450,131
Additions - - 232,416
At 31 January 2024 3,632 129,715 682,547
DEPRECIATION
At 1 February 2023 - 24,924 218,518
Charge for year - 5,189 68,256
At 31 January 2024 - 30,113 286,774
NET BOOK VALUE
At 31 January 2024 3,632 99,602 395,773
At 31 January 2023 3,632 104,791 231,613

Office
Equipment Electrical
& Vehicles Solar Equipment Totals
£    £    £    £   
COST
At 1 February 2023 13,194 3,732 181,228 781,632
Additions 13,340 99,836 - 345,592
At 31 January 2024 26,534 103,568 181,228 1,127,224
DEPRECIATION
At 1 February 2023 6,210 - 36,245 285,897
Charge for year 3,874 - 7,250 84,569
At 31 January 2024 10,084 - 43,495 370,466
NET BOOK VALUE
At 31 January 2024 16,450 103,568 137,733 756,758
At 31 January 2023 6,984 3,732 144,983 495,735

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,827 14,784
Other debtors 2,865 1,649
16,692 16,433

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 168,358 54,685
Tax - 25,225
VAT 16,505 28,244
Other creditors 54,353 66,724
239,216 174,878

Millets Playbarn Limited (Registered number: 10612329)

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

9. RELATED PARTY DISCLOSURES

JL Carter & Partners
A partnership in which N J Carter and A D Carter are partners.

During the period the company made sales of £nil (2023 - £128) and purchases/recharged expenses of £1,095 (2023 - £138) to/from J L Carter & Partners. Management charges of £84,000 (2023 - £80,000) were paid to J L Carter & Partners.

Millets Farm Centre Ltd
A company in which N J Carter and A D Carter are directors and shareholders.

During the period the company made sales of £130,306 (2023 - £98,852) and purchases/recharged expenses of £317,501 (2023 - £188,932) and paid rent of £60,000 (2023 - £60,000) to Millets Farm Centre Limited. Rent of £54,677 (2023 - £49,507) was received from Millets Farm Centre Ltd and management charges of £78,940 (2023 - £68,099) were paid to Millets Farm Centre Ltd.

At the year end amounts of £46,081 (2023 - £40,192) and £11,903 (2023 - £14,604) were owed to/(due from) Millets Farm Centre Ltd.