REGISTERED NUMBER: 03317741 (England and Wales)

Militec Ltd.

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Allen

M R Gibson

SECRETARY:

M J Allen

REGISTERED OFFICE:

Unit 16

Cwm Cynon Business Park

Mountain Ash

Mid-glamorgan

CF45 4ER

REGISTERED NUMBER:

03317741 (England and Wales)

ACCOUNTANTS:

Xeinadin South Wales & West Limited

Accountants & Business Advisors

Suite 2d,

Building 1 Eastern Business Park

St Mellons

Cardiff

CF3 5EA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,266

8,740

6,266

8,740

CURRENT ASSETS

Stocks

267,419

151,405

Debtors

6

66,244

110,262

Cash at bank and in hand

72,995

62,109

406,658

323,776

CREDITORS

Amounts falling due within one year

7

341,361

227,064

NET CURRENT ASSETS

65,297

96,712

TOTAL ASSETS LESS CURRENT LIABILITIES

71,563

105,452

CREDITORS

Amounts falling due after more than one year

8

(21,810

)

(58,135

)

PROVISIONS FOR LIABILITIES

(478

)

(223

)

NET ASSETS

49,275

47,094

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

49,175

46,994

SHAREHOLDERS' FUNDS

49,275

47,094

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.

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 18 September 2025 and were signed on its behalf by:

M R Gibson - Director

1.	STATUTORY INFORMATION

Militec 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.

The accounts have been prepared on a going concern basis and this is dependant on the continuing support of the company's bankers and its shareholders.

Should this support be withdrawn, then the balance sheet would have to be restated. The directors are confident that the support will be continued for the foreseeable future.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on cost

Plant and machinery

-

20% on cost or life of related project

Fixtures and fittings

-

20% on cost or life of related project

Stock & work in progress

Stock and work in progress are valued at the lower of cost and net realisable value. Cost consists of materials and direct labour costs together with an appropriate proportion of production overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the director is satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred as an intangible fixed asset and amortised over the period from which the company is expected to benefit.

Leasing commitments

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

Grants receivable

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful lives of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

90,301

AMORTISATION

At 1 January 2024

and 31 December 2024

90,301

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

13,057

45,912

28,438

87,407

DEPRECIATION

At 1 January 2024

7,646

45,912

25,109

78,667

Charge for year

1,665

-

809

2,474

At 31 December 2024

9,311

45,912

25,918

81,141

NET BOOK VALUE

At 31 December 2024

3,746

-

2,520

6,266

At 31 December 2023

5,411

-

3,329

8,740

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

60,861

105,902

Prepayments

5,383

4,360

66,244

110,262

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

36,325

36,325

Trade creditors

14,414

55,817

Corporation tax

2,281

5,536

Social security and other taxes

8,027

8,155

VAT

25,646

5,393

Other creditors

43,882

37,341

Directors' current accounts

70,663

65,579

Accrued expenses

140,123

12,918

341,361

227,064

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other loans

21,810

58,135

9.	ULTIMATE CONTROLLING PARTY