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REGISTERED NUMBER: 00470716 (England and Wales)















Financial Statements for the Year Ended 30 September 2024

for

Millmead Properties Limited

Millmead Properties Limited (Registered number: 00470716)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Millmead Properties Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: P A Curtecka
C Curtecka
Mrs M Curtecka





REGISTERED OFFICE: 50 West Street
CHICHESTER
West Sussex
PO19 1RP





REGISTERED NUMBER: 00470716 (England and Wales)





ACCOUNTANTS: Add Value Accountancy Ltd
Chartered Certified Accountants
49 Church Road
HOVE
East Sussex
BN3 2BE

Millmead Properties Limited (Registered number: 00470716)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 272,513 252,296
Investment property 5 52,544,621 52,544,621
52,817,134 52,796,917

CURRENT ASSETS
Debtors 6 95,517 72,639
Cash at bank 2,730,886 2,139,105
2,826,403 2,211,744
CREDITORS
Amounts falling due within one year 7 400,854 366,154
NET CURRENT ASSETS 2,425,549 1,845,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,242,683

54,642,507

PROVISIONS FOR LIABILITIES 8,553,890 8,553,890
NET ASSETS 46,688,793 46,088,617

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Share premium 170,500 170,500
Capital redemption reserve 9,804 9,804
Non-distributable reserve 8 41,123,260 41,123,260
Retained earnings 5,345,229 4,745,053
SHAREHOLDERS' FUNDS 46,688,793 46,088,617

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Millmead Properties Limited (Registered number: 00470716)

Balance Sheet - continued
30 September 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 6 June 2025 and were signed on its behalf by:





P A Curtecka - Director


Millmead Properties Limited (Registered number: 00470716)

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

1. STATUTORY INFORMATION

Millmead Properties Limited 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.

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 rents received from tenants.

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 etc - 20% on cost and in accordance with the property

Investment property
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 balance sheet date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Millmead Properties Limited (Registered number: 00470716)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 524,752
Additions 36,305
At 30 September 2024 561,057
DEPRECIATION
At 1 October 2023 272,456
Charge for year 16,088
At 30 September 2024 288,544
NET BOOK VALUE
At 30 September 2024 272,513
At 30 September 2023 252,296

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 52,544,621
NET BOOK VALUE
At 30 September 2024 52,544,621
At 30 September 2023 52,544,621

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2019 52,544,621

If the investment properties had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 2,218,000 2,218,000

Company's investment property was valued on an open market basis on 30 August 2016 by Drivers and Norris, Chartered Surveyors .

Millmead Properties Limited (Registered number: 00470716)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 71,711 71,082
Other debtors 23,806 1,557
95,517 72,639

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 72,307 115,581
Taxation and social security 310,317 202,202
Other creditors 18,230 48,371
400,854 366,154

8. RESERVES
Non-distributable
reserve
£   
At 1 October 2023
and 30 September 2024 41,123,260