PTP Accounts Production v24.3.2.46 11049308 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 27.12.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110493082023-03-31110493082024-03-31110493082023-04-012024-03-31110493082022-03-31110493082022-04-012023-03-31110493082023-03-3111049308ns15:EnglandWales2023-04-012024-03-3111049308ns14:PoundSterling2023-04-012024-03-3111049308ns10:Director12023-04-012024-03-3111049308ns10:Director22023-04-012024-03-3111049308ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111049308ns10:SmallEntities2023-04-012024-03-3111049308ns10:Audited2023-04-012024-03-3111049308ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111049308ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111049308ns10:FullAccounts2023-04-012024-03-3111049308ns10:RegisteredOffice2023-04-012024-03-3111049308ns5:CurrentFinancialInstruments2024-03-3111049308ns5:CurrentFinancialInstruments2023-03-3111049308ns5:Non-currentFinancialInstruments2024-03-3111049308ns5:Non-currentFinancialInstruments2023-03-3111049308ns5:ShareCapital2024-03-3111049308ns5:ShareCapital2023-03-3111049308ns5:RetainedEarningsAccumulatedLosses2024-03-3111049308ns5:RetainedEarningsAccumulatedLosses2023-03-3111049308ns5:PlantMachinery2023-03-3111049308ns5:PlantMachinery2023-04-012024-03-3111049308ns5:PlantMachinery2024-03-3111049308ns5:PlantMachinery2023-03-3111049308ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3111049308ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3111049308ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3111049308ns5:Non-currentFinancialInstruments2023-04-012024-03-3111049308ns5:WithinOneYearns5:HirePurchaseContracts2024-03-3111049308ns5:WithinOneYearns5:HirePurchaseContracts2023-03-3111049308ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3111049308ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3111049308ns5:HirePurchaseContracts2024-03-3111049308ns5:HirePurchaseContracts2023-03-3111049308ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3111049308ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-03-31
REGISTERED NUMBER: 11049308 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MILLSTAR PLANT LIMITED

MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MILLSTAR PLANT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: S J T Peck
J R Taylor





REGISTERED OFFICE: Mill Works
Hazeleigh
Nr. Purleigh
Chelmsford
Essex
CM3 6QT





REGISTERED NUMBER: 11049308 (England and Wales)





AUDITORS: Gowers Limited, Statutory Auditor
The Old School House
Bridge Road
Hunton Bridge
Kings Langley
Hertfordshire
WD4 8SZ

MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 721,763 632,861

CURRENT ASSETS
Debtors 4 791,020 279,680
Prepayments and accrued income - 2,337
Cash at bank 108,325 89,185
899,345 371,202
CREDITORS
Amounts falling due within one year 5 (395,869 ) (279,734 )
NET CURRENT ASSETS 503,476 91,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,225,239

724,329

CREDITORS
Amounts falling due after more than one year 6 (496,888 ) (247,776 )

PROVISIONS FOR LIABILITIES (180,400 ) (160,000 )
NET ASSETS 547,951 316,553

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 547,851 316,453
547,951 316,553

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 23rd December 2024 and were signed on its behalf by:



S J T Peck - Director



J R Taylor - Director


MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Cars - 25% on reducing balance
Computers - 25% on reducing balance
Sweepers - 20% on reducing balance
Commercial Vehicles - 25% on reducing balance
Plant (Other) - 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


1. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 837,940
Additions 776,000
Disposals (833,988 )
At 31st March 2024 779,952
DEPRECIATION
At 1st April 2023 205,079
Charge for year 140,078
Eliminated on disposal (286,968 )
At 31st March 2024 58,189
NET BOOK VALUE
At 31st March 2024 721,763
At 31st March 2023 632,861

The net book value in respect of assets held under hire purchase contracts is as follows:
20242023
££
Plant and machinery720,500453,229
720,500453,229

MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 296,953 220,899
Other debtors 25,699 36,550
322,652 257,449

Amounts falling due after more than one year:
Amounts owed by group undertakings 468,368 22,231

Aggregate amounts 791,020 279,680

The amount shown as owed by group undertakings is owed by E.J. Taylor & Sons Limited (2023: Fleetsmith Ltd) and is interest free.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 7) 156,327 132,044
Trade creditors 142,116 80,529
Taxation and social security 61,994 30,937
Other creditors 35,432 36,224
395,869 279,734

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 7) 496,888 247,726
Amounts owed to group undertakings - 50
496,888 247,776

The amount owed to group undertakings in 2023 relates to an amount due to E.J. Taylor & Sons Limited outside of normal commercial terms.

MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 224,541 154,360
Between one and five years 594,008 263,599
818,549 417,959

Finance charges repayable:
Within one year 68,214 22,316
Between one and five years 97,120 15,873
165,334 38,189

Net obligations repayable:
Within one year 156,327 132,044
Between one and five years 496,888 247,726
653,215 379,770

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Green FCA (Senior Statutory Auditor)
for and on behalf of Gowers Limited, Statutory Auditor

MILLSTAR PLANT LIMITED (REGISTERED NUMBER: 11049308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. RELATED PARTY DISCLOSURES

As at 31st March 2024 the company owed S J Peck, £4,358 (2023: £4,131). Interest is charged at a commercial rate.

As at 31st March 2024 the company owed J R Taylor, £508 (2023: £481). Interest is charged at a commercial rate.

As at 31st March 2024 the company owed L M Taylor, a member of the close family of the Directors, £15,000 (2023: £15,000). Interest is charged at a commercial rate.

The shares in the company were acquired by E J Taylor Group Limited, which became the parent company on 3rd September 2021.

Entities with control, joint control or significant influence over the entity.

E.J. Taylor & Sons Limited
(Related undertaking)

2024 2023
£ £
Amount due from related party at the balance sheet date 18,162 23,131
Amount due to related party at the balance sheet date 95,597 86,527


Sales of £98,858 (2023: £93,709) were made to, and purchases of £278,547 (2023: £256,349) were made from E.J. Taylor & Sons Limited by the company during the year on normal commercial terms.