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Registered number: 13843530
Millersdale Holdings Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13843530
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,533 142,136
53,533 142,136
CURRENT ASSETS
Debtors 5 7,720 16,575
Cash at bank and in hand 17,380 12,032
25,100 28,607
Creditors: Amounts Falling Due Within One Year 6 (21,650 ) (55,977 )
NET CURRENT ASSETS (LIABILITIES) 3,450 (27,370 )
TOTAL ASSETS LESS CURRENT LIABILITIES 56,983 114,766
Creditors: Amounts Falling Due After More Than One Year 7 (32,941 ) (68,977 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,171 ) (27,005 )
NET ASSETS 13,871 18,784
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 13,771 18,684
SHAREHOLDERS' FUNDS 13,871 18,784
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Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr W J Ryley
Director
26 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Millersdale Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13843530 . The registered office is Suite 5, The Willows, Ransom Wood Business Park, Southwell Road West, Rainworth, Mansfield, Nottinghamshire, NG21 0HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 84,910 75,088 159,998
Additions 2,548 31,990 34,538
Disposals (71,273 ) (54,598 ) (125,871 )
As at 31 January 2024 16,185 52,480 68,665
Depreciation
As at 1 February 2023 6,828 11,034 17,862
Provided during the period 3,623 13,529 17,152
Disposals (6,635 ) (13,247 ) (19,882 )
As at 31 January 2024 3,816 11,316 15,132
Net Book Value
As at 31 January 2024 12,369 41,164 53,533
As at 1 February 2023 78,082 64,054 142,136
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
31 January 2024 31 January 2023
£ £
Plant & Machinery 9,310 54,486
Motor Vehicles 41,164 64,054
50,474 118,540
5. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Other debtors - 6,575
Due after more than one year
Other debtors 7,720 10,000
7,720 16,575
6. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,180 30,847
Trade creditors 673 24,380
Other creditors 750 750
Taxation and social security 7,047 -
21,650 55,977
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7. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,941 68,977
8. Obligations Under Finance Leases and Hire Purchase
31 January 2024 31 January 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,180 30,847
Later than one year and not later than five years 32,941 68,977
46,121 99,824
46,121 99,824
9. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 100 100
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