2023-01-01 10539599 2023-12-31 10539599 2023-01-01 2023-12-31 10539599 2022-12-31 10539599 2022-01-01 2022-12-31 10539599 uk-core:WithinOneYear 2022-12-31 10539599 uk-core:WithinOneYear 2023-12-31 10539599 uk-core:AfterOneYear 2022-12-31 10539599 uk-core:AfterOneYear 2023-12-31 10539599 uk-core:ShareCapital 2023-12-31 10539599 uk-core:ShareCapital 2022-12-31 10539599 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 10539599 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 10539599 uk-bus:Director1 2023-01-01 2023-12-31 10539599 uk-core:PlantMachinery 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure 10539599 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10539599 uk-bus:FRS102 2023-01-01 2023-12-31 10539599 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 10539599 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Millfield Precision Engineering Ltd
Registered Number:10539599
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
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
3
Registered Number :
10539599
As at 31 December 2023
Millfield Precision Engineering Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
454,427
413,381
2
454,427
413,381
Current assets
Inventories
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
Capital and reserves
Called up share capital
2
2
Retained earnings
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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4
Registered Number :
10539599
For the year ended 31 December 2023
Millfield Precision Engineering Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
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5
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.
Registered address:
Unit 8, Bartlett Park
Millfield Industrial Estate
Chard
Somerset
TA20 2BB
The presentation currency is £ sterling.
1. Accounting policies
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
20% Reducing balance
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
Plant and
Machinery
£
Cost or
valuation
At 01 January 2023
595,190
154,653
Additions
At 31 December 2023
749,843
Provision for depreciation and impairment
At 01 January 2023
181,809
Charge for year
113,607
At 31 December 2023
295,416
At 31 December 2023
Net book value
454,427
At 31 December 2022
413,381
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6
For the year ended 31 December 2023
Millfield Precision Engineering Ltd
Notes to the Financial Statements Continued
3. Inventories
2022
2023
£
£
Stocks
24,000
16,000
4. Trade and other receivables
2022
2023
£
£
Trade debtors
51,572
60,786
Other debtors
9,011
6,102
66,888
60,583
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
35,897
50,037
Taxation and social security
84,365
44,879
Other creditors
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
Other creditors
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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