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MILBANK CARPETS LIMITED

Registered Number
03085464
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

MILBANK CARPETS LIMITED
Company Information
for the year from 1 June 2024 to 31 May 2025

Directors

MILBANK, Andrew William
MILBANK, Lorraine Dawn

Company Secretary

MILBANK, Lorraine

Registered Address

50 High Street
Hampton Hill
Hampton
TW12 1PD

Registered Number

03085464 (England and Wales)
MILBANK CARPETS LIMITED
Statement of Financial Position
31 May 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets310,75912,808
10,75912,808
Current assets
Stocks43,9663,125
Debtors545,55049,060
Cash at bank and on hand125,66976,789
175,185128,974
Creditors amounts falling due within one year6(98,638)(78,483)
Net current assets (liabilities)76,54750,491
Total assets less current liabilities87,30663,299
Net assets87,30663,299
Capital and reserves
Called up share capital5151
Profit and loss account87,25563,248
Shareholders' funds87,30663,299
The financial statements were approved and authorised for issue by the Board of Directors on 24 July 2025, and are signed on its behalf by:
MILBANK, Andrew William
Director
Registered Company No. 03085464
MILBANK CARPETS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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 and fitting of flooring and carpets and is recognised when the order is placed.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-5
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
2.Average number of employees

20252024
Average number of employees during the year44
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 June 248,50059,82520,82016,718105,863
Additions---1,5381,538
At 31 May 258,50059,82520,82018,256107,401
Depreciation and impairment
At 01 June 248,50050,34119,92414,29093,055
Charge for year-2,3712249923,587
At 31 May 258,50052,71220,14815,28296,642
Net book value
At 31 May 25-7,1136722,97410,759
At 31 May 24-9,4848962,42812,808
4.Stocks

2025

2024

££
Raw materials and consumables3,9663,125
Total3,9663,125
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables42,27045,585
Prepayments and accrued income3,2803,475
Total45,55049,060
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables34,98627,544
Taxation and social security55,59744,094
Other creditors8,0556,845
Total98,63878,483
7.Share capital
Allotted, issued and fully paid share capital : Number : 51 Class: Ordinary Nominal value : £1