Neal L Millstein Limited
Registered number: 07477080
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 52,775 62,318
Current assets
Debtors 4 33,446 31,673
Cash at bank and in hand 220,627 208,743
254,073 240,416
Creditors: amounts falling due within one year 5 (30,169) (30,728)
Net current assets 223,904 209,688
Total assets less current liabilities 276,679 272,006
Creditors: amounts falling due after more than one year 6 (72,639) (79,332)
Net assets 204,040 192,674
Capital and reserves
Called up share capital 6 6
Profit and loss account 204,034 192,668
Shareholders' funds 204,040 192,674
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Neal Millstein
Director
Approved by the board on 16 June 2025
Neal L Millstein Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2024 26,172 90,762 116,934
Additions 4,432 36,915 41,347
On disposals - (46,500) (46,500)
At 31 March 2025 30,604 81,177 111,781
Depreciation
At 1 April 2024 22,471 32,145 54,616
Charge for the year 5,179 21,492 26,671
On disposals - (22,281) (22,281)
At 31 March 2025 27,650 31,356 59,006
Net book value
At 31 March 2025 2,954 49,821 52,775
At 31 March 2024 3,701 58,617 62,318
4 Debtors 2025 2024
£ £
Loans receivable 20,234 19,983
Other debtors 13,212 11,690
33,446 31,673
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans 7,000 7,000
Obligations under finance lease and hire purchase contracts 10,000 10,000
Trade creditors 1,235 -
Corporation tax 7,875 8,537
Other taxes and social security costs 3,534 5,227
Other creditors 525 (36)
30,169 30,728
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 19,582 21,672
Obligations under finance lease and hire purchase contracts 53,057 57,660
72,639 79,332
7 Other information
Neal L Millstein Limited is a private company limited by shares and incorporated in England. Its registered office is 45 Telford Gardens, Hedge End, Southampton, Hants, SO30 2TQ
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