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Registration number: 01748394

Millhaze Builders Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Millhaze Builders Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Millhaze Builders Limited

Company Information

Director

Mr PJ Tully

Company secretary

Mrs BJ Tully

Registered office

Bincombe Bartons
Over Stowey
Bridgwater
Somerset
TA5 1HR

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Millhaze Builders Limited

(Registration number: 01748394)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,305

21,846

Current assets

 

Debtors

5

76,236

27,156

Cash at bank and in hand

 

-

22,232

 

76,236

49,388

Creditors: Amounts falling due within one year

6

(61,476)

(44,153)

Net current assets

 

14,760

5,235

Total assets less current liabilities

 

22,065

27,081

Creditors: Amounts falling due after more than one year

6

(14,167)

(25,868)

Net assets

 

7,898

1,213

Capital and reserves

 

Called up share capital

300

300

Retained earnings

7,598

913

Shareholders' funds

 

7,898

1,213

For the financial 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.

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.

 

Millhaze Builders Limited

(Registration number: 01748394)
Balance Sheet as at 31 January 2024

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 31 October 2024
 

.........................................
Mr PJ Tully
Director

 

Millhaze Builders Limited

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

1

General information

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

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 presentation currency of the financial statements is the Pound Sterling (£). All monetary amounts are rounded to the nearest £.

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.

 

Millhaze Builders Limited

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

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current 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.

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

20% Reducing balance

Computer Equipment

33% Straight line

Motor Vehicles

25% Reducing balance

 

Millhaze Builders Limited

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

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 2).

 

Millhaze Builders Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,027

29,600

14,223

44,850

Disposals

-

(12,450)

-

(12,450)

At 31 January 2024

1,027

17,150

14,223

32,400

Depreciation

At 1 February 2023

914

10,838

11,253

23,005

Charge for the year

113

1,643

594

2,350

Eliminated on disposal

-

(260)

-

(260)

At 31 January 2024

1,027

12,221

11,847

25,095

Carrying amount

At 31 January 2024

-

4,929

2,376

7,305

At 31 January 2023

114

18,762

2,970

21,846

5

Debtors

Current

2024
£

2023
£

Trade debtors

63,392

-

Prepayments

629

852

Other debtors

12,215

26,304

 

76,236

27,156

 

Millhaze Builders Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

24,871

8,968

Trade creditors

 

13,877

4,966

Taxation and social security

 

16,831

24,743

Accruals and deferred income

 

2,775

2,500

Other creditors

 

3,122

2,976

 

61,476

44,153

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

14,167

25,868

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,167

25,868

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

8,968

Bank overdrafts

14,871

-

24,871

8,968

 

Millhaze Builders Limited

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

8

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr PJ Tully

16,019

52,296

(68,462)

(147)

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mr PJ Tully

33,382

61,748

(79,111)

16,019