Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-302023-12-01falseNo description of principal activity55falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06524204 2023-12-01 2024-11-30 06524204 2022-12-01 2023-11-30 06524204 2024-11-30 06524204 2023-11-30 06524204 c:Director3 2023-12-01 2024-11-30 06524204 c:Director4 2023-12-01 2024-11-30 06524204 d:Buildings 2023-12-01 2024-11-30 06524204 d:Buildings 2024-11-30 06524204 d:Buildings 2023-11-30 06524204 d:Buildings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06524204 d:PlantMachinery 2023-12-01 2024-11-30 06524204 d:PlantMachinery 2024-11-30 06524204 d:PlantMachinery 2023-11-30 06524204 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06524204 d:MotorVehicles 2023-12-01 2024-11-30 06524204 d:MotorVehicles 2024-11-30 06524204 d:MotorVehicles 2023-11-30 06524204 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06524204 d:OfficeEquipment 2023-12-01 2024-11-30 06524204 d:OfficeEquipment 2024-11-30 06524204 d:OfficeEquipment 2023-11-30 06524204 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06524204 d:ComputerEquipment 2023-12-01 2024-11-30 06524204 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06524204 d:Goodwill 2024-11-30 06524204 d:Goodwill 2023-11-30 06524204 d:CurrentFinancialInstruments 2024-11-30 06524204 d:CurrentFinancialInstruments 2023-11-30 06524204 d:Non-currentFinancialInstruments 2024-11-30 06524204 d:Non-currentFinancialInstruments 2023-11-30 06524204 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 06524204 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 06524204 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 06524204 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 06524204 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-11-30 06524204 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 06524204 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-11-30 06524204 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 06524204 d:ShareCapital 2024-11-30 06524204 d:ShareCapital 2023-11-30 06524204 d:RetainedEarningsAccumulatedLosses 2024-11-30 06524204 d:RetainedEarningsAccumulatedLosses 2023-11-30 06524204 c:OrdinaryShareClass1 2023-12-01 2024-11-30 06524204 c:OrdinaryShareClass1 2024-11-30 06524204 c:OrdinaryShareClass2 2023-12-01 2024-11-30 06524204 c:OrdinaryShareClass2 2024-11-30 06524204 c:OrdinaryShareClass3 2023-12-01 2024-11-30 06524204 c:OrdinaryShareClass3 2024-11-30 06524204 c:OrdinaryShareClass4 2023-12-01 2024-11-30 06524204 c:OrdinaryShareClass4 2024-11-30 06524204 c:FRS102 2023-12-01 2024-11-30 06524204 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 06524204 c:FullAccounts 2023-12-01 2024-11-30 06524204 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 06524204 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-01 2024-11-30 06524204 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-11-30 06524204 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-11-30 06524204 2 2023-12-01 2024-11-30 06524204 d:Goodwill d:OwnedIntangibleAssets 2023-12-01 2024-11-30 06524204 e:PoundSterling 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06524204









MILLFIELDS CONVEYOR BELTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
MILLFIELDS CONVEYOR BELTING LIMITED
REGISTERED NUMBER: 06524204

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
41,667
54,167

Tangible assets
 5 
104,740
67,389

  
146,407
121,556

Current assets
  

Stocks
  
117,578
104,338

Debtors: amounts falling due within one year
 6 
1,015,673
937,267

Cash at bank and in hand
  
480,309
399,717

  
1,613,560
1,441,322

Creditors: amounts falling due within one year
 7 
(243,923)
(208,358)

Net current assets
  
 
 
1,369,637
 
 
1,232,964

Total assets less current liabilities
  
1,516,044
1,354,520

Creditors: amounts falling due after more than one year
 8 
(46,801)
(16,672)

Provisions for liabilities
  

Deferred tax
  
(23,080)
-

  
 
 
(23,080)
 
 
-

Net assets
  
1,446,163
1,337,848


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Profit and loss account
  
1,445,163
1,336,848

  
1,446,163
1,337,848


Page 1

 
MILLFIELDS CONVEYOR BELTING LIMITED
REGISTERED NUMBER: 06524204
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 April 2025.




................................................
A. J. Martin
................................................
Mrs A. Martin
Director
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The company is a private limited company limited by shares. It is both incorporated and domiciled in
England and Wales. The registered office address is 2 Station Yard, Swaffham, Norfolk, PE37 7JE.
The continuing activity of the company is that of conveyor belt sales and repairs. The principal place of business is Swaffham, Norfolk.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.

Depreciation is provided on the following basis:

Property improvements
-
10% reducing balance
Plant & machinery
-
15% reducing balance
Motor vehicles
-
10%/15% reducing balance
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 7

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 December 2023
250,500



At 30 November 2024

250,500



Amortisation


At 1 December 2023
196,333


Charge for the year on owned assets
12,500



At 30 November 2024

208,833



Net book value



At 30 November 2024
41,667



At 30 November 2023
54,167



Page 8

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets





Property improvements
Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2023
19,843
46,513
61,636
7,622
135,614


Additions
-
-
52,825
-
52,825



At 30 November 2024

19,843
46,513
114,461
7,622
188,439



Depreciation


At 1 December 2023
6,041
35,057
20,074
7,053
68,225


Charge for the year on owned assets
1,380
1,719
12,084
291
15,474



At 30 November 2024

7,421
36,776
32,158
7,344
83,699



Net book value



At 30 November 2024
12,422
9,737
82,303
278
104,740



At 30 November 2023
13,802
11,456
41,562
569
67,389


6.


Debtors

2024
2023
£
£


Trade debtors
173,517
194,766

Other debtors
835,000
735,000

Prepayments and accrued income
97
497

Prepayments
7,059
7,004

1,015,673
937,267


Page 9

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
70,058
51,600

Other taxation and social security
114,974
119,551

Obligations under finance lease and hire purchase contracts
5,896
-

Other creditors
39,335
23,672

Accruals and deferred income
3,660
3,535

243,923
208,358



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,671
16,672

Net obligations under finance leases and hire purchase contracts
40,130
-

46,801
16,672


Page 10

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
6,671
10,000


6,671
10,000

Amounts falling due 2-5 years

Bank loans
-
6,672


-
6,672


16,671
26,672



10.


Provisions








At 30 November 2024


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



225 Ordinary 'A' shares of £1.00 each
225
225
500 Ordinary 'B' shares of £1.00 each
500
500
225 Ordinary 'C' shares of £1.00 each
225
225
50 Ordinary 'D' shares of £1.00 each
50
50

1,000

1,000


Page 11

 
MILLFIELDS CONVEYOR BELTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

12.


Related party transactions

As at 30 November 2024 the company was owed a director £ 37,550 (2023:  20,902).

 
Page 12