0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,852 1,388 46 1,434 418 464 xbrli:pure xbrli:shares iso4217:GBP 06900195 2023-06-01 2024-05-31 06900195 2024-05-31 06900195 2023-05-31 06900195 2022-06-01 2023-05-31 06900195 2023-05-31 06900195 2022-05-31 06900195 core:PlantMachinery 2023-06-01 2024-05-31 06900195 core:PlantMachinery 2023-05-31 06900195 core:PlantMachinery 2024-05-31 06900195 core:WithinOneYear 2024-05-31 06900195 core:WithinOneYear 2023-05-31 06900195 core:ShareCapital 2024-05-31 06900195 core:ShareCapital 2023-05-31 06900195 core:RetainedEarningsAccumulatedLosses 2024-05-31 06900195 core:RetainedEarningsAccumulatedLosses 2023-05-31 06900195 core:PlantMachinery 2023-05-31 06900195 bus:Director1 2023-06-01 2024-05-31 06900195 bus:SmallEntities 2023-06-01 2024-05-31 06900195 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06900195 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06900195 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06900195 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 06900195
MILLER HOMES INSULATION LIMITED
Filleted Unaudited Financial Statements
31 May 2024
MILLER HOMES INSULATION LIMITED
Financial Statements
Year ended 31st May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
MILLER HOMES INSULATION LIMITED
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
418
464
Current assets
Stocks
136,130
136,130
Debtors
5
30
30
Cash at bank and in hand
3,419
3,400
---------
---------
139,579
139,560
Creditors: amounts falling due within one year
6
119,769
119,341
---------
---------
Net current assets
19,810
20,219
--------
--------
Total assets less current liabilities
20,228
20,683
--------
--------
Net assets
20,228
20,683
--------
--------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
19,228
19,683
--------
--------
Shareholders funds
20,228
20,683
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st May 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MILLER HOMES INSULATION LIMITED
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
MR J MILLER
DIRECTOR
Company registration number: 06900195
MILLER HOMES INSULATION LIMITED
Notes to the Financial Statements
Year ended 31st May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260/268 Chapel Street,, Chapel Street, Salford, Manchester, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1st June 2023 and 31st May 2024
1,852
1,852
-------
-------
Depreciation
At 1st June 2023
1,388
1,388
Charge for the year
46
46
-------
-------
At 31st May 2024
1,434
1,434
-------
-------
Carrying amount
At 31st May 2024
418
418
-------
-------
At 31st May 2023
464
464
-------
-------
5. Debtors
2024
2023
£
£
Other debtors
30
30
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
119,769
119,341
---------
---------
7. Director's advances, credits and guarantees
Included within other creditors above is a balance of £28,284 (2023: £27,941) owed to the director. No interest has been charged to the company in respect of the loan which is repayable on demand.
8. Related party transactions
The company was under the control of Mr.Miller throughout the current and previous year. Mr. Miller is the managing director and majority shareholder. Included in creditors is a balance of £90,743 (2023 £90,743) in respect of monies owed to Woodhouses Park Limited, a company in which Mr. Miller is a director and shareholder.