3 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 2023 - FRS102_2023 240,000 240,000 xbrli:pure xbrli:shares iso4217:GBP 09035441 2023-06-01 2024-05-31 09035441 2024-05-31 09035441 2023-05-31 09035441 2022-06-01 2023-05-31 09035441 2023-05-31 09035441 2022-05-31 09035441 core:NetGoodwill 2023-06-01 2024-05-31 09035441 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09035441 core:MotorVehicles 2023-06-01 2024-05-31 09035441 bus:Director1 2023-06-01 2024-05-31 09035441 core:NetGoodwill 2024-05-31 09035441 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 09035441 core:PlantMachinery 2023-05-31 09035441 core:MotorVehicles 2023-05-31 09035441 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 09035441 core:PlantMachinery 2024-05-31 09035441 core:MotorVehicles 2024-05-31 09035441 core:PlantMachinery 2023-06-01 2024-05-31 09035441 core:WithinOneYear 2024-05-31 09035441 core:WithinOneYear 2023-05-31 09035441 core:ShareCapital 2024-05-31 09035441 core:ShareCapital 2023-05-31 09035441 core:RetainedEarningsAccumulatedLosses 2024-05-31 09035441 core:RetainedEarningsAccumulatedLosses 2023-05-31 09035441 core:BetweenOneFiveYears 2024-05-31 09035441 core:BetweenOneFiveYears 2023-05-31 09035441 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 09035441 core:PlantMachinery 2023-05-31 09035441 core:MotorVehicles 2023-05-31 09035441 bus:SmallEntities 2023-06-01 2024-05-31 09035441 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09035441 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09035441 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09035441 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 09035441
MILBORNE HEALTHCARE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
MILBORNE HEALTHCARE LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
79,095
92,524
CURRENT ASSETS
Debtors
7
2,827
3,402
Cash at bank and in hand
173,078
160,945
---------
---------
175,905
164,347
CREDITORS: amounts falling due within one year
8
35,441
32,492
---------
---------
NET CURRENT ASSETS
140,464
131,855
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
219,559
224,379
PROVISIONS
15,332
17,893
---------
---------
NET ASSETS
204,227
206,486
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
204,127
206,386
---------
---------
SHAREHOLDERS FUNDS
204,227
206,486
---------
---------
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 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MILBORNE HEALTHCARE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
J R Milborne
Director
Company registration number: 09035441
MILBORNE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 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 Melton House, 42 West Street, Oundle, Peterborough, PE8 4EF, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Leasehold improvements
-
20% straight line
Plant & Machinery
-
15% reducing balance and 33 1/3% straight line
Motor Vehicles
-
25% straight line
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
240,000
---------
Amortisation
At 1 June 2023 and 31 May 2024
240,000
---------
Carrying amount
At 31 May 2024
---------
At 31 May 2023
---------
6. TANGIBLE ASSETS
Leasehold improvements
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
95,178
59,904
32,000
187,082
Additions
1,099
1,099
--------
--------
--------
---------
At 31 May 2024
95,178
61,003
32,000
188,181
--------
--------
--------
---------
Depreciation
At 1 June 2023
29,896
40,256
24,406
94,558
Charge for the year
9,517
3,112
1,899
14,528
--------
--------
--------
---------
At 31 May 2024
39,413
43,368
26,305
109,086
--------
--------
--------
---------
Carrying amount
At 31 May 2024
55,765
17,635
5,695
79,095
--------
--------
--------
---------
At 31 May 2023
65,282
19,648
7,594
92,524
--------
--------
--------
---------
7. DEBTORS
2024
2023
£
£
Trade debtors
2,827
3,402
-------
-------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Corporation tax
2,438
11,404
Other creditors
33,003
21,088
--------
--------
35,441
32,492
--------
--------
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
24,000
24,000
Later than 1 year and not later than 5 years
24,000
48,000
--------
--------
48,000
72,000
--------
--------