Company No:
Contents
Note | 31.03.2024 | 30.04.2023 | ||
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Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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114,962 | 111,561 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 69,452 | 72,790 | ||
Total assets less current liabilities | 69,452 | 72,790 | ||
Provision for liabilities |
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Miller Commercial Valuers Limited (registered number:
Mr M S Nightingale
Director |
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.
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 £.
The reporting length has been shortened to 11 months so that the year end is coterminous with other related entities.
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.
Vehicles |
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Office equipment |
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Computer equipment |
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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.
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.
Period from 01.05.2023 to 31.03.2024 |
Year ended 30.04.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Vehicles | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 May 2023 |
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Disposals | (
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 May 2023 |
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Disposals | (
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 30 April 2023 |
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31.03.2024 | 30.04.2023 | ||
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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31.03.2024 | 30.04.2023 | ||
£ | £ | ||
Trade creditors |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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31.03.2024 | 30.04.2023 | ||
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Allotted, called-up and fully-paid | |||
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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).