IRIS Accounts Production v24.3.0.553 02894536 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028945362023-02-28028945362024-02-29028945362023-03-012024-02-29028945362022-02-28028945362022-03-012023-02-28028945362023-02-2802894536ns15:EnglandWales2023-03-012024-02-2902894536ns14:PoundSterling2023-03-012024-02-2902894536ns10:Director12023-03-012024-02-2902894536ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2902894536ns10:SmallEntities2023-03-012024-02-2902894536ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2902894536ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2902894536ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2902894536ns10:FullAccounts2023-03-012024-02-2902894536ns10:OrdinaryShareClass12023-03-012024-02-2902894536ns10:Director22023-03-012024-02-2902894536ns10:RegisteredOffice2023-03-012024-02-2902894536ns5:CurrentFinancialInstruments2024-02-2902894536ns5:CurrentFinancialInstruments2023-02-2802894536ns5:Non-currentFinancialInstruments2024-02-2902894536ns5:Non-currentFinancialInstruments2023-02-2802894536ns5:ShareCapital2024-02-2902894536ns5:ShareCapital2023-02-2802894536ns5:RetainedEarningsAccumulatedLosses2024-02-2902894536ns5:RetainedEarningsAccumulatedLosses2023-02-2802894536ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-03-012024-02-2902894536ns5:PlantMachinery2023-03-012024-02-2902894536ns5:MotorVehicles2023-03-012024-02-2902894536ns5:ComputerEquipment2023-03-012024-02-2902894536ns5:LandBuildings2023-02-2802894536ns5:PlantMachinery2023-02-2802894536ns5:FurnitureFittings2023-02-2802894536ns5:LandBuildings2023-03-012024-02-2902894536ns5:FurnitureFittings2023-03-012024-02-2902894536ns5:LandBuildings2024-02-2902894536ns5:PlantMachinery2024-02-2902894536ns5:FurnitureFittings2024-02-2902894536ns5:LandBuildings2023-02-2802894536ns5:PlantMachinery2023-02-2802894536ns5:FurnitureFittings2023-02-2802894536ns5:MotorVehicles2023-02-2802894536ns5:ComputerEquipment2023-02-2802894536ns5:MotorVehicles2024-02-2902894536ns5:ComputerEquipment2024-02-2902894536ns5:MotorVehicles2023-02-2802894536ns5:ComputerEquipment2023-02-2802894536ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2902894536ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2802894536ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-02-2902894536ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2802894536ns5:DeferredTaxation2023-02-2802894536ns5:DeferredTaxation2023-03-012024-02-2902894536ns5:DeferredTaxation2024-02-2902894536ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 02894536 (England and Wales)














MILLSON ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024






MILLSON ENGINEERING LIMITED (REGISTERED NUMBER: 02894536)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILLSON ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: T T Soloducha
Mrs S Soloducha





REGISTERED OFFICE: Beauchamp House
402-403 Stourport Road
Kidderminster
Worcestershire
DY11 7BG





REGISTERED NUMBER: 02894536 (England and Wales)

MILLSON ENGINEERING LIMITED (REGISTERED NUMBER: 02894536)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 302,257 310,380

CURRENT ASSETS
Stocks 45,262 82,515
Debtors 5 285,788 170,466
Cash at bank and in hand 411 182
331,461 253,163
CREDITORS
Amounts falling due within one year 6 218,274 214,706
NET CURRENT ASSETS 113,187 38,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,444

348,837

CREDITORS
Amounts falling due after more than one
year

7

(26,667

)

(49,995

)

PROVISIONS FOR LIABILITIES 8 - (6,956 )
NET ASSETS 388,777 291,886

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 388,677 291,786
SHAREHOLDERS' FUNDS 388,777 291,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MILLSON ENGINEERING LIMITED (REGISTERED NUMBER: 02894536)

BALANCE SHEET - continued
29TH FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th November 2024 and were signed on its behalf by:





T T Soloducha - Director


MILLSON ENGINEERING LIMITED (REGISTERED NUMBER: 02894536)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Millson Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MILLSON ENGINEERING LIMITED (REGISTERED NUMBER: 02894536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
property machinery fittings
£ £ £
COST
At 1st March 2023 250,314 236,228 1,692
Additions - - -
At 29th February 2024 250,314 236,228 1,692
DEPRECIATION
At 1st March 2023 3,102 201,393 474
Charge for year - 5,225 244
At 29th February 2024 3,102 206,618 718
NET BOOK VALUE
At 29th February 2024 247,212 29,610 974
At 28th February 2023 247,212 34,835 1,218

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1st March 2023 253,299 1,137 742,670
Additions 5,500 - 5,500
At 29th February 2024 258,799 1,137 748,170
DEPRECIATION
At 1st March 2023 226,184 1,137 432,290
Charge for year 8,154 - 13,623
At 29th February 2024 234,338 1,137 445,913
NET BOOK VALUE
At 29th February 2024 24,461 - 302,257
At 28th February 2023 27,115 - 310,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 129,308 60,794
Amounts owed by group undertakings 148,341 102,364
Other debtors 4,813 4,813
Prepayments and accrued income 3,326 2,495
285,788 170,466

MILLSON ENGINEERING LIMITED (REGISTERED NUMBER: 02894536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 45,482 61,892
Hire purchase contracts 3,328 6,244
Trade creditors 57,307 54,745
Amounts owed to group undertakings 418 56,963
Social security and other taxes 2,810 2,196
VAT 46,224 31,116
Accrued expenses 62,705 1,550
218,274 214,706

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 26,667 46,667
Hire purchase contracts - 3,328
26,667 49,995

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax - 6,956

Deferred tax
£
Balance at 1st March 2023 6,956
Provided during year (6,956 )
Balance at 29th February 2024 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the year end loans between related companies existed as the below:

As at 28 February 2024 Millson Engineering Limited was owed £8,273 by MV Products Limited (2023 Millson Engineering Limited owed £56,963 to M.V Products Limited). MV Products is a fellow subsidiary in the group.

As at 28 February 2024 Millson Engineering Limited were owed £140,068 by TRS Manufacturing Group Limited (2023 £102,364). TRS Manufacturing Group Limited is the company's holding company.

There is no ultimate controlling party by virtue of no controlling interest in the ultimate parent company.