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Millgar Engineering Ltd

Financial Statements for the Year Ended 31 October 2024






Millgar Engineering Ltd (Registered number: 04928189)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Millgar Engineering Ltd

Company Information
for the year ended 31 October 2024







DIRECTORS: Mr G Mills
Mr C Mills
Mr M Mills
Mr J Mills





SECRETARY: Mr J Mills





REGISTERED OFFICE: Unit 15, Jubilee Trade Centre
Jubilee Road
Letchworth Garden City
Hertfordshire
SG6 1SP





REGISTERED NUMBER: 04928189 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Millgar Engineering Ltd (Registered number: 04928189)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,666 97,154

CURRENT ASSETS
Debtors 5 168,035 99,633
Cash at bank and in hand 118,697 105,096
286,732 204,729
CREDITORS
Amounts falling due within one year 6 160,174 137,984
NET CURRENT ASSETS 126,558 66,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,224

163,899

CREDITORS
Amounts falling due after more than one
year

7

12,684

32,096
NET ASSETS 203,540 131,803

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 203,430 131,693
SHAREHOLDERS' FUNDS 203,540 131,803

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Millgar Engineering Ltd (Registered number: 04928189)

Balance Sheet - continued
31 October 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 7 July 2025 and were signed on its behalf by:





Mr G Mills - Director


Millgar Engineering Ltd (Registered number: 04928189)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Millgar Engineering 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2023 - 7 ) .

Millgar Engineering Ltd (Registered number: 04928189)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2023 498,241 - 498,241
Additions 11,772 11,361 23,133
Disposals (2,587 ) - (2,587 )
At 31 October 2024 507,426 11,361 518,787
DEPRECIATION
At 1 November 2023 401,087 - 401,087
Charge for year 27,049 2,840 29,889
Eliminated on disposal (1,855 ) - (1,855 )
At 31 October 2024 426,281 2,840 429,121
NET BOOK VALUE
At 31 October 2024 81,145 8,521 89,666
At 31 October 2023 97,154 - 97,154

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2023
and 31 October 2024 287,451
DEPRECIATION
At 1 November 2023 205,261
Charge for year 20,547
At 31 October 2024 225,808
NET BOOK VALUE
At 31 October 2024 61,643
At 31 October 2023 82,190

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 149,558 84,304
Amounts owed by group undertakings 15,870 12,995
Prepayments and accrued income 2,607 2,334
168,035 99,633

Millgar Engineering Ltd (Registered number: 04928189)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,401 23,520
Trade creditors 22,710 38,076
Corporation tax 80,520 47,050
VAT 33,550 24,703
Credit card 3,980 4,520
Directors' current accounts 13 115
160,174 137,984

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 12,684 32,096

8. RELATED PARTY DISCLOSURES

Rental costs of £6,000 are paid for the use of a property owned by 1 of the 4 directors.