Millfield Precision Engineering Ltd |
Registered Number:10539599 |
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2023
Millfield Precision Engineering Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Millfield Precision Engineering Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
454,427
413,381
2
454,427
413,381
16,000
24,000
3
Trade and other receivables |
66,888
60,583
4
167,630
Cash and cash equivalents |
209,310
293,893
250,518
Trade and other payables: amounts falling due within one |
year |
(178,696)
(244,562)
5
71,822
49,331
Net current assets
Total assets less current liabilities |
503,758
485,203
Trade and other payables: amounts falling due after more |
than one year |
(275,990)
(265,970)
6
(19,316)
(11,797)
Provisions for liabilities |
218,472
Net assets
197,416
2
2
218,470
197,414
218,472
197,416
Shareholders' funds
For the year ended 31 December 2023 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Kristian Avrill Director |
These financial statements were approved and authorised for issue by the Board on 31 December 2023 and were signed by: |
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For the year ended 31 December 2023
Millfield Precision Engineering Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 4
For the year ended 31 December 2023
Millfield Precision Engineering Ltd
Notes to the Financial Statements
Statutory Information
Millfield Precision Engineering Ltd is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 10539599. |
Unit 8, Bartlett Park
Millfield Industrial Estate
Chard
Somerset
TA20 2BB
The presentation currency is £ sterling. |
Basis of preparing the financial statements
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
2. Property, plant and equipment |
595,190
154,653
749,843
Provision for depreciation and impairment |
181,809
Charge for year
113,607
295,416
454,427
413,381
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For the year ended 31 December 2023
Millfield Precision Engineering Ltd
Notes to the Financial Statements Continued
2022
2023
24,000
16,000
4. Trade and other receivables |
2022
2023
51,572
60,786
9,011
6,102
66,888
60,583
5. Trade and other payables: amounts falling due within one year |
2022
2023
35,897
50,037
Taxation and social security |
84,365
44,879
124,300
83,780
244,562
178,696
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
-
38,000
265,970
237,990
265,970
275,990
7. Average number of persons employed |
During the year the average number of employees was 2 (2022 : 2)
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