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COMPANY REGISTRATION NUMBER: 06919598
TERRY MILNER HOLDINGS LTD.
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
TERRY MILNER HOLDINGS LTD.
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
6
1,008,018
1,071,764
Investments
7
100
------------
------------
1,008,118
1,071,764
CURRENT ASSETS
Debtors
8
344,438
Cash at bank and in hand
281,640
526,654
---------
---------
626,078
526,654
CREDITORS: amounts falling due within one year
9
( 106,912)
( 276,372)
---------
---------
NET CURRENT ASSETS
519,166
250,282
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,527,284
1,322,046
CREDITORS: amounts falling due after more than one year
10
( 704,101)
( 478,745)
PROVISIONS
Taxation including deferred tax
( 35,135)
( 40,779)
------------
------------
NET ASSETS
788,048
802,522
------------
------------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
787,948
802,422
---------
---------
SHAREHOLDERS FUNDS
788,048
802,522
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TERRY MILNER HOLDINGS LTD.
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
T Milner
Director
Company registration number: 06919598
TERRY MILNER HOLDINGS LTD.
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Wine & Co, 20-22 Bridge End, Leeds, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
4% straight line
Plant and Machinery
-
10% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25 % reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to Nil (2023: 32 ).
5. TAX ON (LOSS)/PROFIT
Major components of tax expense
Period from
Year to
1 Nov 21 to
30 Apr 24
30 Apr 23
£
£
Current tax:
UK current tax expense
10,183
43,603
Adjustments in respect of prior periods
867
445
--------
--------
Total current tax
11,050
44,048
--------
--------
Deferred tax:
Origination and reversal of timing differences
( 5,644)
2,284
-------
--------
Tax on (loss)/profit
5,406
46,332
-------
--------
6. TANGIBLE ASSETS
Freehold Property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 May 2023
934,752
530,166
59,724
29,211
4,188
1,558,041
Disposals
( 11,711)
( 11,711)
---------
---------
--------
--------
-------
------------
At 30 Apr 2024
934,752
530,166
59,724
17,500
4,188
1,546,330
---------
---------
--------
--------
-------
------------
Depreciation
At 1 May 2023
88,475
344,215
24,828
25,710
3,049
486,277
Charge for the year
37,390
18,594
5,236
419
283
61,922
Disposals
( 9,887)
( 9,887)
---------
---------
--------
--------
-------
------------
At 30 Apr 2024
125,865
362,809
30,064
16,242
3,332
538,312
---------
---------
--------
--------
-------
------------
Carrying amount
At 30 Apr 2024
808,887
167,357
29,660
1,258
856
1,008,018
---------
---------
--------
--------
-------
------------
At 30 Apr 2023
846,277
185,951
34,896
3,501
1,139
1,071,764
---------
---------
--------
--------
-------
------------
7. INVESTMENTS
Unlisted
£
Cost
At 1 May 2023
Additions
100
----
At 30 April 2024
100
----
Impairment
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
100
----
At 30 April 2023
----
8. DEBTORS
2024
2023
£
£
Other debtors
344,438
---------
----
9. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
57,800
57,800
Corporation tax
20,109
53,530
Social security and other taxes
8,126
8,135
Other creditors
20,877
156,907
---------
---------
106,912
276,372
---------
---------
10. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
440,125
478,745
Amounts owed to group undertakings and undertakings in which the company has a participating interest
249,708
Other creditors
14,268
---------
---------
704,101
478,745
---------
---------