23 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,750 15,750 xbrli:pure xbrli:shares iso4217:GBP 06355828 2024-04-01 2025-03-31 06355828 2025-03-31 06355828 2024-03-31 06355828 2023-04-01 2024-03-31 06355828 2024-03-31 06355828 2023-03-31 06355828 core:LandBuildings core:LongLeaseholdAssets 2024-04-01 2025-03-31 06355828 core:FurnitureFittings 2024-04-01 2025-03-31 06355828 core:MotorVehicles 2024-04-01 2025-03-31 06355828 bus:Director1 2024-04-01 2025-03-31 06355828 core:WithinOneYear 2025-03-31 06355828 core:WithinOneYear 2024-03-31 06355828 core:NetGoodwill 2025-03-31 06355828 core:LandBuildings 2024-03-31 06355828 core:FurnitureFittings 2024-03-31 06355828 core:MotorVehicles 2024-03-31 06355828 core:LandBuildings 2025-03-31 06355828 core:FurnitureFittings 2025-03-31 06355828 core:MotorVehicles 2025-03-31 06355828 core:LandBuildings 2024-04-01 2025-03-31 06355828 core:AfterOneYear 2025-03-31 06355828 core:AfterOneYear 2024-03-31 06355828 core:ShareCapital 2025-03-31 06355828 core:ShareCapital 2024-03-31 06355828 core:RetainedEarningsAccumulatedLosses 2025-03-31 06355828 core:RetainedEarningsAccumulatedLosses 2024-03-31 06355828 core:LandBuildings 2024-03-31 06355828 core:FurnitureFittings 2024-03-31 06355828 core:MotorVehicles 2024-03-31 06355828 bus:SmallEntities 2024-04-01 2025-03-31 06355828 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 06355828 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06355828 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06355828 bus:FullAccounts 2024-04-01 2025-03-31 06355828 core:NetGoodwill 2024-04-01 2025-03-31 06355828 core:LeaseholdImprovements 2024-03-31 06355828 core:LeaseholdImprovements 2025-03-31 06355828 core:LeaseholdImprovements 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 06355828
Milligan Hotel & Restaurant Company Limited
Unaudited financial statements
31 March 2025
Milligan Hotel & Restaurant Company Limited
Statement of financial position
31 March 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
6
114,633
125,314
Current assets
Stocks
6,430
6,250
Debtors
7
72,607
41,071
Cash at bank and in hand
695
1,701
-------
-------
79,732
49,022
Creditors: Amounts falling due within one year
8
( 89,958)
( 99,582)
-------
-------
Net current liabilities
( 10,226)
( 50,560)
---------
---------
Total assets less current liabilities
104,407
74,754
Creditors: Amounts falling due after more than one year
9
( 2,505)
( 12,505)
Provisions
Taxation including deferred tax
( 7,031)
( 6,383)
---------
-------
Net assets
94,871
55,866
---------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
94,771
55,766
-------
-------
Shareholders funds
94,871
55,866
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Milligan Hotel & Restaurant Company Limited
Statement of financial position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:
P R Milligan
Director
Company registration number: 06355828
Milligan Hotel & Restaurant Company Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Mulberry Tree, Station Road, Attleborough, Norfolk, NR17 2AS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
5% reducing balance
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Improvements to leasehold property
-
7.5% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
The company operates a defined benefit contribution pension scheme for employees. The assets of the scheme are held seperately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of employees during the year was 23 (2024: 22 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
15,750
-------
Amortisation
At 1 April 2024 and 31 March 2025
15,750
-------
Carrying amount
At 31 March 2025
-------
At 31 March 2024
-------
6. Tangible assets
Leasehold Property
Fixtures and fittings
Motor vehicles
Improvement to Leasehold Property
Total
£
£
£
£
£
Cost
At 1 April 2024
14,089
44,085
8,000
169,692
235,866
Additions
624
624
Disposals
( 2,995)
( 2,995)
-------
-------
------
---------
---------
At 31 March 2025
14,089
41,714
8,000
169,692
233,495
-------
-------
------
---------
---------
Depreciation
At 1 April 2024
6,075
24,957
7,487
72,033
110,552
Charge for the year
401
2,802
128
7,324
10,655
Disposals
( 2,345)
( 2,345)
-------
-------
------
---------
---------
At 31 March 2025
6,476
25,414
7,615
79,357
118,862
-------
-------
------
---------
---------
Carrying amount
At 31 March 2025
7,613
16,300
385
90,335
114,633
-------
-------
------
---------
---------
At 31 March 2024
8,014
19,128
513
97,659
125,314
-------
-------
------
---------
---------
7. Debtors
2025
2024
£
£
Other debtors
72,607
41,071
-------
-------
8. Creditors: Amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
24,871
46,225
Trade creditors
13,208
21,606
Accruals and deferred income
9,177
7,091
Social security and other taxes
42,310
24,203
Other creditors
392
457
-------
-------
89,958
99,582
-------
-------
9. Creditors: Amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,505
12,505
------
-------
10. Directors' advances, credits and guarantees
Included in debtors is an amount due to the company from the directors of £55,855 (2024: £21,383). The maximum overdrawn balance during the year was £55,855. Interest of £828 (2024: £1,208) was charged at the official rate.