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REGISTERED NUMBER: 03770351 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

J. & C. R. Milnes Limited

J. & C. R. Milnes Limited (Registered number: 03770351)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J. & C. R. Milnes Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr J H Milnes





SECRETARY: Mrs C R Milnes





REGISTERED OFFICE: New Chapel Farm
Chapel Lane
Penistone
Sheffield
South Yorkshire
S36 6AQ





REGISTERED NUMBER: 03770351 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

J. & C. R. Milnes Limited (Registered number: 03770351)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 27,209 33,013

CURRENT ASSETS
Stocks 2,505 2,505
Debtors 6 27,533 27,548
Cash at bank 16,827 13,501
46,865 43,554
CREDITORS
Amounts falling due within one year 7 162,703 154,298
NET CURRENT LIABILITIES (115,838 ) (110,744 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(88,629

)

(77,731

)

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (88,631 ) (77,733 )
SHAREHOLDERS' FUNDS (88,629 ) (77,731 )

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





Mr J H Milnes - Director


J. & C. R. Milnes Limited (Registered number: 03770351)

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

1. STATUTORY INFORMATION

J. & C. R. Milnes 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 and functional 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 on a going concern basis under the historical cost convention.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Tractors - 25% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


J. & C. R. Milnes Limited (Registered number: 03770351)

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

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery Tractors vehicles Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 84,378 24,773 16,880 126,031
DEPRECIATION
At 1 June 2023 59,897 18,947 14,174 93,018
Charge for year 3,672 1,456 676 5,804
At 31 May 2024 63,569 20,403 14,850 98,822
NET BOOK VALUE
At 31 May 2024 20,809 4,370 2,030 27,209
At 31 May 2023 24,481 5,826 2,706 33,013

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,000 25,000
Other debtors 2,533 2,548
27,533 27,548

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 160 -
Taxation and social security 1,766 1,749
Other creditors 160,777 152,549
162,703 154,298

J. & C. R. Milnes Limited (Registered number: 03770351)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2