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Registered Number: 06472505
England

 

 

 

MILLHOUSE FURNITURE & INTERIORS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors Mr L Goldthorpe
Mr A P Goldthorpe
Registered Number 06472505
Registered Office Warren House Farm
Selby Road
Leeds
West Yorkshire
LS15 8QW
Accountants UWM Accountants
UWM House
6 Fusion Court
Leeds
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 56,000    70,000 
Tangible fixed assets 4 175,652    193,852 
231,652    263,852 
Current assets      
Stocks 5 283,961    297,000 
Debtors 6 83,775    47,729 
Cash at bank and in hand 48,120    78,070 
415,856    422,799 
Creditors: amount falling due within one year 7 (389,246)   (392,377)
Net current assets 26,610    30,422 
 
Total assets less current liabilities 258,262    294,274 
Creditors: amount falling due after more than one year 8 (83,086)   (144,887)
Provisions for liabilities 9 (23,869)   (27,305)
Net assets 151,307    122,082 
 

Capital and reserves
     
Called up share capital 8,801    10,001 
Capital Redemption Reserve 10 3,200    2,000 
Profit and loss account 139,306    110,081 
Shareholders' funds 151,307    122,082 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 January 2025 and were signed on its behalf by:


-------------------------------
Mr L Goldthorpe
Director
2
General Information
Millhouse Furniture & Interiors Limited is a private company, limited by shares, registered in England, registration number 06472505, registration address Warren House Farm, Selby Road, Leeds, West Yorkshire, LS15 8QW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, 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:
Land and buildings 0%
Plant and machinery etc 12.5% RB
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 14 (2023 : 15).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 May 2023 280,000    280,000 
Additions  
Disposals  
At 30 April 2024 280,000    280,000 
Amortisation
At 01 May 2023 210,000    210,000 
Charge for year 14,000    14,000 
On disposals  
At 30 April 2024 224,000    224,000 
Net book values
At 30 April 2024 56,000    56,000 
At 30 April 2023 70,000    70,000 


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 May 2023 48,250    302,557    350,807 
Additions    
Disposals    
At 30 April 2024 48,250    302,557    350,807 
Depreciation
At 01 May 2023   156,955    156,955 
Charge for year   18,200    18,200 
On disposals    
At 30 April 2024   175,155    175,155 
Net book values
Closing balance as at 30 April 2024 48,250    127,402    175,652 
Opening balance as at 01 May 2023 48,250    145,602    193,852 

The net book value of Motor Vehicles includes £ 83,606 (2023 £95,550) in respect of assets leased under finance leases or hire purchase contracts.

5.

Stocks

2024
£
  2023
£
Stocks 283,961    297,000 
283,961    297,000 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 10,297    27,314 
Other Debtors 73,478    20,415 
83,775    47,729 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 157,515    222,838 
Bank Loans & Overdrafts 38,062    38,062 
Taxation and Social Security 135,726    74,042 
Obligations under HP/Financial Leases 23,277    23,277 
Other Creditors 34,666    34,158 
389,246    392,377 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 48,246    86,770 
Obligations under HP/Financial Leases 34,840    58,117 
83,086    144,887 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 23,869    27,305 
23,869    27,305 

10.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 2,000    2,000 
Purchase of Own Shares (Nominal Value) 1,200   
3,200    2,000 

3