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REGISTERED NUMBER: 01530955 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2024

for

John Mills Curtains Ltd

John Mills Curtains Ltd (Registered number: 01530955)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


John Mills Curtains Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr J V Mills
Mr S J Mills





SECRETARY: Mrs M D Mills





REGISTERED OFFICE: 79 High Street
Swadlincote
Derbyshire
DE11 8JA





REGISTERED NUMBER: 01530955 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

John Mills Curtains Ltd (Registered number: 01530955)

Abridged Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,500 55,324

CURRENT ASSETS
Stocks 21,740 20,492
Debtors 2,130 2,212
Cash at bank and in hand 180,699 200,840
204,569 223,544
CREDITORS
Amounts falling due within one year 39,208 55,025
NET CURRENT ASSETS 165,361 168,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,861

223,843

PROVISIONS FOR LIABILITIES 1,061 1,469
NET ASSETS 217,800 222,374

CAPITAL AND RESERVES
Called up share capital 6 51 51
Retained earnings 217,749 222,323
SHAREHOLDERS' FUNDS 217,800 222,374

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

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

John Mills Curtains Ltd (Registered number: 01530955)

Abridged Balance Sheet - continued
31 December 2024


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings 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 J V Mills - Director



Mr S J Mills - Director


John Mills Curtains Ltd (Registered number: 01530955)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

John Mills Curtains 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually upon the date of the store transaction or upon fitting for goods that are not collected by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Provision for the depreciation of freehold property in accordance with the Companies Act 2006 and Financial Reporting Standard 102 has not been provided. It is the company`s policy to maintain its property in good condition which prolongs its useful economic life, in addition the directors review the residual value of the property on an annual basis and are of the opinion that any depreciation charge to date would be immaterial.

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks
Stock is valued at the lower of estimated cost and net realisable value, after making due allowance for obsolete and slow moving items. Estimated cost is based on selling price less expected gross profit.


John Mills Curtains Ltd (Registered number: 01530955)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account as incurred.

Government grants
Grants received towards revenue expenditure are recognised as other income in the year in which the revenue expenditure is incurred.

Grants received towards capital expenditure are accounted for on the accruals basis and are released to the profit and loss account to match the depreciation policy of the asset to which they relate.

Debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising form impairments are recognised in profit and loss.

Creditors
Short term creditors are measured at transaction price less any impairment. Any losses arising form impairments are recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

John Mills Curtains Ltd (Registered number: 01530955)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 78,244
Additions 476
Disposals (417 )
At 31 December 2024 78,303
DEPRECIATION
At 1 January 2024 22,920
Charge for year 2,300
Eliminated on disposal (417 )
At 31 December 2024 24,803
NET BOOK VALUE
At 31 December 2024 53,500
At 31 December 2023 55,324

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year - 167

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
51 Ordinary £1 51 51