Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr C Smith 02/12/2014 Mr R Smith 02/12/2014 Mr A Smith 06/04/2017 Mrs T Smith 06/04/2017 06 June 2025 no description of principal activity 09337212 2024-12-31 09337212 bus:Director1 2024-12-31 09337212 bus:Director2 2024-12-31 09337212 bus:Director3 2024-12-31 09337212 bus:Director4 2024-12-31 09337212 2023-12-31 09337212 core:CurrentFinancialInstruments 2024-12-31 09337212 core:CurrentFinancialInstruments 2023-12-31 09337212 core:Non-currentFinancialInstruments 2024-12-31 09337212 core:Non-currentFinancialInstruments 2023-12-31 09337212 core:ShareCapital 2024-12-31 09337212 core:ShareCapital 2023-12-31 09337212 core:RetainedEarningsAccumulatedLosses 2024-12-31 09337212 core:RetainedEarningsAccumulatedLosses 2023-12-31 09337212 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 09337212 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 09337212 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 09337212 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 09337212 core:LandBuildings 2023-12-31 09337212 core:LeaseholdImprovements 2023-12-31 09337212 core:PlantMachinery 2023-12-31 09337212 core:Vehicles 2023-12-31 09337212 core:OfficeEquipment 2023-12-31 09337212 core:LandBuildings 2024-12-31 09337212 core:LeaseholdImprovements 2024-12-31 09337212 core:PlantMachinery 2024-12-31 09337212 core:Vehicles 2024-12-31 09337212 core:OfficeEquipment 2024-12-31 09337212 2022-12-31 09337212 2024-01-01 2024-12-31 09337212 bus:FilletedAccounts 2024-01-01 2024-12-31 09337212 bus:SmallEntities 2024-01-01 2024-12-31 09337212 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09337212 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09337212 bus:Director1 2024-01-01 2024-12-31 09337212 bus:Director2 2024-01-01 2024-12-31 09337212 bus:Director3 2024-01-01 2024-12-31 09337212 bus:Director4 2024-01-01 2024-12-31 09337212 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2024-01-01 2024-12-31 09337212 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 09337212 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 09337212 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 09337212 core:Vehicles 2024-01-01 2024-12-31 09337212 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 09337212 2023-01-01 2023-12-31 09337212 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 09337212 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 09337212 core:LandBuildings 2024-01-01 2024-12-31 09337212 core:LeaseholdImprovements 2024-01-01 2024-12-31 09337212 core:PlantMachinery 2024-01-01 2024-12-31 09337212 core:OfficeEquipment 2024-01-01 2024-12-31 09337212 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 09337212 (England and Wales)

TOTAL MILLING SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

TOTAL MILLING SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

TOTAL MILLING SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
TOTAL MILLING SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,264 5,006
Tangible assets 4 817,825 879,465
822,089 884,471
Current assets
Stocks 5 40,000 35,000
Debtors 6 183,431 94,964
Cash at bank and in hand 252,192 226,859
475,623 356,823
Creditors: amounts falling due within one year 7 ( 280,649) ( 190,322)
Net current assets 194,974 166,501
Total assets less current liabilities 1,017,063 1,050,972
Creditors: amounts falling due after more than one year 8 ( 214,702) ( 212,706)
Provision for liabilities 9 ( 67,915) ( 83,022)
Net assets 734,446 755,244
Capital and reserves
Called-up share capital 350 350
Profit and loss account 734,096 754,894
Total shareholders' funds 734,446 755,244

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Total Milling Solutions Limited (registered number: 09337212) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Mr R Smith
Director

06 June 2025

TOTAL MILLING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
TOTAL MILLING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Total Milling Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 16 & 17 Sterling Complex Farthing Road Industrial Estate, Ipswich, IP1 5AP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences not amortised
Website costs 5 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 10 years straight line
Plant and machinery 4 years straight line
Vehicles 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 9

3. Intangible assets

Trademarks, patents
and licences
Website costs Total
£ £ £
Cost
At 01 January 2024 2,532 3,710 6,242
At 31 December 2024 2,532 3,710 6,242
Accumulated amortisation
At 01 January 2024 0 1,236 1,236
Charge for the financial year 0 742 742
At 31 December 2024 0 1,978 1,978
Net book value
At 31 December 2024 2,532 1,732 4,264
At 31 December 2023 2,532 2,474 5,006

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2024 506,939 83,051 178,824 353,788 37,694 1,160,296
Additions 0 13,322 21,423 0 2,377 37,122
Disposals 0 0 ( 5,846) ( 385) ( 13,274) ( 19,505)
At 31 December 2024 506,939 96,373 194,401 353,403 26,797 1,177,913
Accumulated depreciation
At 01 January 2024 0 13,195 73,206 174,039 20,391 280,831
Charge for the financial year 0 8,781 34,703 44,937 9,575 97,996
Disposals 0 0 ( 5,244) ( 318) ( 13,177) ( 18,739)
At 31 December 2024 0 21,976 102,665 218,658 16,789 360,088
Net book value
At 31 December 2024 506,939 74,397 91,736 134,745 10,008 817,825
At 31 December 2023 506,939 69,856 105,618 179,749 17,303 879,465

5. Stocks

2024 2023
£ £
Finished goods 40,000 35,000

6. Debtors

2024 2023
£ £
Trade debtors 72,473 78,681
Amounts owed by directors 5,144 9,560
Prepayments 105,690 5,600
Other debtors 124 1,123
183,431 94,964

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 18,413 32,814
Amounts owed to directors 1,702 1,546
Other loans 17,605 16,957
Accruals 118,548 1,260
Taxation and social security 101,170 62,805
Obligations under finance leases and hire purchase contracts 21,320 73,449
Other creditors 1,891 1,491
280,649 190,322

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 195,104 212,706
Obligations under finance leases and hire purchase contracts 19,598 0
214,702 212,706

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 83,022) ( 79,600)
Credited/(charged) to the Income Statement 15,107 ( 3,422)
At the end of financial year ( 67,915) ( 83,022)