REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
MILLERS TERRACE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
MILLERS TERRACE LIMITED |
MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MILLERS TERRACE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
London |
NW8 0DL |
MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812) |
BALANCE SHEET |
31 MAY 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812) |
BALANCE SHEET - continued |
31 MAY 2024 |
The financial statements were approved by the director and authorised for issue on |
MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Millers Terrace Limited is a |
2. | 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. |
The director reports net current liabilities of £2,106,123 (2023: £4,761,530) at the balance sheet date. The parent company confirms that it will continue to support the company and will not seek repayment of the amounts it is owed ahead of other creditors in the foreseeable future. |
Due to the above the director believes that it is appropriate for the financial statements to be prepared on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the rent received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Investment properties were valued on an open market basis and the director considers this to be the fair value at the balance sheet date. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Amounts owed to group undertakings |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | LOANS |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
The bank loans are secured against the investment properties owned by the company. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
12. | ULTIMATE CONTROLLING PARTY |
The company is wholly owned by Sho Investments Limited. |
Sho Investments Limited is jointly owned by Hoze Holdings Limited and Shiff Investments Limited. |