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Registration number: 05413119

Millie Miles Event Hire Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Millie Miles Event Hire Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Millie Miles Event Hire Limited

Company Information

Director

Ms Lorna Miles

Registered office

Weston Grounds Farm
Weston On The Green
Bicester
Oxon
OX25 3QX

Accountants

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Millie Miles Event Hire Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Millie Miles Event Hire Limited for the year ended 30 April 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Millie Miles Event Hire Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Millie Miles Event Hire Limited and state those matters that we have agreed to state to the Board of Directors of Millie Miles Event Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Millie Miles Event Hire Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Millie Miles Event Hire Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Millie Miles Event Hire Limited. You consider that Millie Miles Event Hire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Millie Miles Event Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

15 November 2024

 

Millie Miles Event Hire Limited

(Registration number: 05413119)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

281,940

315,173

Current assets

 

Debtors

5

57,183

53,827

Cash at bank and in hand

 

10,227

10,983

 

67,410

64,810

Creditors: Amounts falling due within one year

6

(77,655)

(100,228)

Net current liabilities

 

(10,245)

(35,418)

Total assets less current liabilities

 

271,695

279,755

Creditors: Amounts falling due after more than one year

6

(127,499)

(147,454)

Provisions for liabilities

(16,095)

(21,628)

Net assets

 

128,101

110,673

Capital and reserves

 

Called up share capital

99

99

Retained earnings

128,002

110,574

Shareholders' funds

 

128,101

110,673

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 November 2024
 

.........................................
Ms Lorna Miles
Director

 

Millie Miles Event Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Weston Grounds Farm
Weston On The Green
Bicester
Oxon
OX25 3QX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Millie Miles Event Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Plant & Machinery

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Millie Miles Event Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2023 - 12).

 

Millie Miles Event Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

201,583

138,483

452,544

792,610

Disposals

-

(7,102)

-

(7,102)

At 30 April 2024

201,583

131,381

452,544

785,508

Depreciation

At 1 May 2023

10,080

89,718

377,639

477,437

Charge for the year

2,016

12,191

18,726

32,933

Eliminated on disposal

-

(6,802)

-

(6,802)

At 30 April 2024

12,096

95,107

396,365

503,568

Carrying amount

At 30 April 2024

189,487

36,274

56,179

281,940

At 30 April 2023

191,503

48,765

74,905

315,173

Included within the net book value of land and buildings above is £189,487 (2023 - £191,503) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

42,354

5,794

Other debtors

14,829

48,033

 

57,183

53,827

 

Millie Miles Event Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

19,514

19,116

Trade creditors

 

505

4,861

Taxation and social security

 

52,647

59,280

Accruals and deferred income

 

2,700

16,940

Other creditors

 

2,289

31

 

77,655

100,228

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

127,499

147,454

 

Millie Miles Event Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

115,421

123,911

Other borrowings

12,078

23,543

127,499

147,454

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,444

8,400

Other borrowings

11,070

10,716

19,514

19,116