Company Registration No. 05370248 (England and Wales)
John Miller And Sons Limited
Unaudited accounts
for the year ended 31 March 2024
John Miller And Sons Limited
Unaudited accounts
Contents
John Miller And Sons Limited
Company Information
for the year ended 31 March 2024
Directors
David Miller
John Miller Snr
Company Number
05370248 (England and Wales)
Registered Office
Ardtoget
Church Walk
Ulverston
Cumbria
LA12 7EW
England
Accountants
EHA Accountancy Ltd
2 Lower Brook Street
Ulverston
Cumbria
LA12 7EE
John Miller And Sons Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,177,586
1,057,887
Cash at bank and in hand
145,455
90,315
Creditors: amounts falling due within one year
(146,945)
(99,045)
Net current assets
203,603
228,042
Total assets less current liabilities
1,382,283
1,287,023
Creditors: amounts falling due after more than one year
(192,158)
(212,497)
Provisions for liabilities
Deferred tax
(87,638)
(64,895)
Net assets
1,102,487
1,009,631
Called up share capital
100
100
Profit and loss account
1,102,387
1,009,531
Shareholders' funds
1,102,487
1,009,631
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by
John Miller Snr
Director
Company Registration No. 05370248
John Miller And Sons Limited
Notes to the Accounts
for the year ended 31 March 2024
John Miller And Sons Limited is a private company, limited by shares, registered in England and Wales, registration number 05370248. The registered office is Ardtoget, Church Walk , Ulverston, Cumbria, LA12 7EW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. It is amortised on a straight line basis over the useful economic life of the asset.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
John Miller And Sons Limited
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2023
716,333
601,247
203,623
8,374
1,705
1,531,282
Additions
-
182,197
46,000
-
-
228,197
Disposals
-
-
(25,133)
-
-
(25,133)
At 31 March 2024
716,333
783,444
224,490
8,374
1,705
1,734,346
At 1 April 2023
-
339,085
126,436
7,448
426
473,395
Charge for the year
-
78,197
23,514
231
426
102,368
On disposals
-
-
(19,003)
-
-
(19,003)
At 31 March 2024
-
417,282
130,947
7,679
852
556,760
At 31 March 2024
716,333
366,162
93,543
695
853
1,177,586
At 31 March 2023
716,333
262,162
77,187
926
1,279
1,057,887
6
Investments
Other investments
Valuation at 1 April 2023
1,094
Valuation at 31 March 2024
1,094
John Miller And Sons Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
2,850
81,343
Amounts due from group undertakings etc.
46,385
27,291
Accrued income and prepayments
421
607
Other debtors
64,263
62,696
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
25,600
29,600
Obligations under finance leases and hire purchase contracts
67,500
-
Trade creditors
6,036
11,735
Taxes and social security
11,028
-
9
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
192,158
212,497
Aggregate of amounts that fall due for payment after five years
64,158
134,000
There is a legal charge over the freehold property known as Scrap Yard at Canal Head House Ulverston.
Interest has been charged on the loan at the beneficial loan interest rate.
11
Transactions with related parties
Included within debtors is a loan with a related party, Ulverston Tyres Ltd of £46,385 (2023:£27,291)
12
Average number of employees
During the year the average number of employees was 7 (2023: 6).