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REGISTERED NUMBER: 05520559 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MILLWELLS ESTATES LTD

MILLWELLS ESTATES LTD (REGISTERED NUMBER: 05520559)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MILLWELLS ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Y E Englander
Mrs R Englander





SECRETARY: C M Englander





REGISTERED OFFICE: 115 Craven Park Road
Stamford Hill
London
N15 6BL





REGISTERED NUMBER: 05520559 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

MILLWELLS ESTATES LTD (REGISTERED NUMBER: 05520559)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 890 1,059
Investment property 5 560,000 560,000
560,890 561,059

CURRENT ASSETS
Debtors 6 4,000 7,348
Cash at bank 936 3,837
4,936 11,185
CREDITORS
Amounts falling due within one year 7 (46,047 ) (55,884 )
NET CURRENT LIABILITIES (41,111 ) (44,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

519,779

516,360

CREDITORS
Amounts falling due after more than one
year

8

(84,825

)

(90,566

)

PROVISIONS FOR LIABILITIES (65,459 ) (65,459 )
NET ASSETS 369,495 360,335

CAPITAL AND RESERVES
Called up share capital 9 3 3
Revaluation reserve 10 344,520 344,520
Retained earnings 10 24,972 15,812
SHAREHOLDERS' FUNDS 369,495 360,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MILLWELLS ESTATES LTD (REGISTERED NUMBER: 05520559)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2025 and were signed on its behalf by:





Y E Englander - Director


MILLWELLS ESTATES LTD (REGISTERED NUMBER: 05520559)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Millwells Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment properties
Investment property is shown at most recent valuation. 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 statement of financial position date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MILLWELLS ESTATES LTD (REGISTERED NUMBER: 05520559)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 10,783 570 11,353
DEPRECIATION
At 1 January 2024 9,778 516 10,294
Charge for year 151 18 169
At 31 December 2024 9,929 534 10,463
NET BOOK VALUE
At 31 December 2024 854 36 890
At 31 December 2023 1,005 54 1,059

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 560,000
NET BOOK VALUE
At 31 December 2024 560,000
At 31 December 2023 560,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2016 284,520
Valuation in 2021 60,000
Cost 215,480
560,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 3,348
Other debtors 4,000 4,000
4,000 7,348

MILLWELLS ESTATES LTD (REGISTERED NUMBER: 05520559)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 137 499
Taxation and social security 2,188 9,658
Other creditors 43,722 45,727
46,047 55,884

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 84,825 90,566

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 84,825 90,566

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
3 Ordinary 1 3 3

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2024 15,812 344,520 360,332
Profit for the year 9,160 9,160
At 31 December 2024 24,972 344,520 369,492

11. ULTIMATE CONTROLLING PARTY

The controlling party is Y E Englander.