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Registered number: 01425839
Mike Miller Associates Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
SeavorChartered
Chartered Accountants & Tax Advisers
Clifford Court
Cooper Way
Carlisle
Cumbria
CA3 0JG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 01425839
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 106,398 116,856
Investments 5 91,350 116,565
197,748 233,421
CURRENT ASSETS
Stocks 174,210 154,500
Debtors 485,480 474,645
659,690 629,145
Creditors: Amounts Falling Due Within One Year (292,656 ) (233,324 )
NET CURRENT ASSETS (LIABILITIES) 367,034 395,821
TOTAL ASSETS LESS CURRENT LIABILITIES 564,782 629,242
Creditors: Amounts Falling Due After More Than One Year (297,542 ) (340,773 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (14,891 ) (12,767 )
NET ASSETS 252,349 275,702
CAPITAL AND RESERVES
Called up share capital 8 194,100 194,100
Profit and Loss Account 58,249 81,602
SHAREHOLDERS' FUNDS 252,349 275,702
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Johanne Doherty
Director
6 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Mike Miller Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01425839 . The registered office is The Old Brewery, Caldbeck, Cumbria, CA7 8EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Leasehold 20% & 25% reducing balance
Plant & Machinery 10% & 15 yrs straight line & 25% reducing balance
Motor Vehicles 15 yrs straight line & 20 & 25% reducing balance
Fixtures & Fittings 15 yrs straight line & 20% reducing balance
Computer Equipment 4 yrs straight line & 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.6. Taxation
The tax charge represents the sum of the tax currently payable and deferred tax.

Corporation tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

2.9. Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
2.10. Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
2.11. Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 21)
21 21
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 948,292
Additions 10,036
As at 29 February 2024 958,328
Depreciation
As at 1 March 2023 831,436
Provided during the period 20,494
As at 29 February 2024 851,930
Net Book Value
As at 29 February 2024 106,398
As at 1 March 2023 116,856
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5. Investments
Total
£
Cost
As at 1 March 2023 504,301
As at 29 February 2024 504,301
Provision
As at 1 March 2023 387,736
Impairment losses 25,215
As at 29 February 2024 412,951
Net Book Value
As at 29 February 2024 91,350
As at 1 March 2023 116,565
6. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts - 281,236
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 14,891 12,767
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 194,100 194,100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 70,500 70,500
Later than one year and not later than five years 282,000 282,000
Later than five years 1,012,629 1,083,129
1,365,129 1,435,629
10. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,202 (2023: £1,376) were due to the fund. They are included in Other Creditors.
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11. Related Party Transactions
During the year the company continued to borrow funds from the director, Mrs J E Doherty. At the balance sheet date the company owed to Mrs J E Doherty £54,639 (2023: £6,318).
The company has taken advantage of the small group exemptions not to disclose transactions with its parent or fellow wholly owned subsidiaries.
12. Ultimate Controlling Party
The company's ultimate controlling party is Twoey 1996 Ltd by virtue of his ownership of 100% of the issued share capital in the company.
13. Subsidiary undertaking - participating interest
As part of a small group, this company is exempt from producing group financial statements and disclosing transactions with its subsidiary undertaking, Active Designs & Ideas Limited. These financial statements are for this company alone.
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