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REGISTERED NUMBER: 03589639 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

J.H. Milnes Limited

J.H. Milnes Limited (Registered number: 03589639)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.H. Milnes Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr J H Milnes





SECRETARY: Mrs N J Milnes





REGISTERED OFFICE: New Chapel Farm
Chapel Lane
Penistone
Sheffield
South Yorkshire
S36 6AQ





REGISTERED NUMBER: 03589639 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

J.H. Milnes Limited (Registered number: 03589639)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 598,189 412,652

CURRENT ASSETS
Stocks 5,452,694 4,999,302
Debtors 6 1,094,321 851,687
Cash at bank 480,639 474,973
7,027,654 6,325,962
CREDITORS
Amounts falling due within one year 7 4,097,630 3,464,519
NET CURRENT ASSETS 2,930,024 2,861,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,528,213

3,274,095

PROVISIONS FOR LIABILITIES 133,369 76,715
NET ASSETS 3,394,844 3,197,380

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 3,394,843 3,197,379
SHAREHOLDERS' FUNDS 3,394,844 3,197,380

J.H. Milnes Limited (Registered number: 03589639)

Balance Sheet - continued
30 June 2024


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2025 and were signed by:





Mr J H Milnes - Director


J.H. Milnes Limited (Registered number: 03589639)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in compliance with FRS 102, 'The Financial Standard Applicable in the UK and the Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


J.H. Milnes Limited (Registered number: 03589639)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 44,460 762,487 45,542 28,000 880,489
Additions - 309,450 - 122,545 431,995
Disposals - (169,000 ) - - (169,000 )
At 30 June 2024 44,460 902,937 45,542 150,545 1,143,484
DEPRECIATION
At 1 July 2023 35,569 372,804 34,280 25,184 467,837
Charge for year 4,446 86,496 1,689 31,339 123,970
Eliminated on disposal - (46,512 ) - - (46,512 )
At 30 June 2024 40,015 412,788 35,969 56,523 545,295
NET BOOK VALUE
At 30 June 2024 4,445 490,149 9,573 94,022 598,189
At 30 June 2023 8,891 389,683 11,262 2,816 412,652

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,019,321 649,453
Other debtors 75,000 202,234
1,094,321 851,687

J.H. Milnes Limited (Registered number: 03589639)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 494,078 641,454
Amounts owed to group undertakings 3,204,048 2,616,018
Taxation and social security 317,809 150,031
Other creditors 81,695 57,016
4,097,630 3,464,519

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J H Milnes.