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Company No: 03507535 (England and Wales)

MILLER COMMERCIAL VALUERS LIMITED

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

MILLER COMMERCIAL VALUERS LIMITED

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

MILLER COMMERCIAL VALUERS LIMITED

BALANCE SHEET

As at 31 March 2024
MILLER COMMERCIAL VALUERS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Current assets
Stocks 500 7,500
Debtors 4 98,588 87,499
Cash at bank and in hand 15,874 16,562
114,962 111,561
Creditors: amounts falling due within one year 5 ( 45,510) ( 38,771)
Net current assets 69,452 72,790
Total assets less current liabilities 69,452 72,790
Provision for liabilities 517 619
Net assets 69,969 73,409
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account 68,970 72,412
Total shareholders' funds 69,970 73,412

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Miller Commercial Valuers Limited (registered number: 03507535) were approved and authorised for issue by the Board of Directors on 08 August 2024. They were signed on its behalf by:

Mr M S Nightingale
Director
MILLER COMMERCIAL VALUERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
MILLER COMMERCIAL VALUERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Miller Commercial Valuers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
Mansion House
Princes Street
Truro
Cornwall
TR1 2RF

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The reporting length has been shortened to 11 months so that the year end is coterminous with other related entities.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 4 years straight line
Office equipment 4 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Classification

The company holds the following financial instruments
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.


Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 0 0

3. Tangible assets

Vehicles Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 May 2023 7,208 45,364 0 52,572
Disposals ( 7,208) 0 0 ( 7,208)
At 31 March 2024 0 45,364 0 45,364
Accumulated depreciation
At 01 May 2023 7,208 45,364 0 52,572
Disposals ( 7,208) 0 0 ( 7,208)
At 31 March 2024 0 45,364 0 45,364
Net book value
At 31 March 2024 0 0 0 0
At 30 April 2023 0 0 0 0

4. Debtors

31.03.2024 30.04.2023
£ £
Trade debtors 72,448 57,999
Amounts owed by related parties 21,959 13,234
Other debtors 4,181 16,266
98,588 87,499

5. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Trade creditors 569 5,272
Corporation tax 15,401 11,549
Other taxation and social security 8,137 4,185
Other creditors 21,403 17,765
45,510 38,771

6. Called-up share capital

31.03.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

7. Related party transactions

Other related party transactions

31.03.2024 30.04.2023
£ £
Services provided from the LLP to the company 537,781 486,942

Miller Commercial LLP
(Miller Commercial is an LLP in which the shareholders of the company are designated members)

The company has charged the LLP £10,542 (2023: £19,924) in relation to rent and associated service charges for the use of the property Mansion House where the company has directly incurred the related costs under the lease agreement. At the balance sheet date the net amount due from Miller Commercial LLP was £21,959 (2023: £13,234).