REGISTERED NUMBER: 03811760 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MILLVALE ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Flynn

T Lyons

SECRETARY:

B K Godefroid

REGISTERED OFFICE:

Millvale House

Selsley Hill

Dudbridge

Gloucestershire

GL5 3HF

REGISTERED NUMBER:

03811760 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,331

16,644

Investments

6

100

100

6,431

16,744

CURRENT ASSETS

Stocks

203,236

199,238

Debtors

7

190,627

295,549

Cash at bank and in hand

114,182

75,224

508,045

570,011

CREDITORS

Amounts falling due within one year

8

53,938

139,215

NET CURRENT ASSETS

454,107

430,796

TOTAL ASSETS LESS CURRENT LIABILITIES

460,538

447,540

PROVISIONS FOR LIABILITIES

1,583

4,161

NET ASSETS

458,955

443,379

CAPITAL AND RESERVES

Called up share capital

122,222

122,222

Share premium

57,923

57,923

Retained earnings

278,810

263,234

SHAREHOLDERS' FUNDS

458,955

443,379

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 26 September 2025 and were signed on its behalf by:

T Lyons - Director

R Flynn - Director

1.	STATUTORY INFORMATION

Millvale Engineering Limited 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.

Going concern

The directors have considered the risks and issues concerning the company and its activities and no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Turnover

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

Revenue from the company's principal activity of Auto restoration bolting and automotive engineering is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer or the service has been provided and the amount of revenue can be reliably measured.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten years.

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, was amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery

-

30% on cost and 15% on cost

Fixtures and fittings

-

15% to 30% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

40% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

92,460

AMORTISATION

At 1 January 2024

and 31 December 2024

92,460

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

10,722

10,515

39,881

47,462

108,580

Additions

-

907

-

-

907

Disposals

-

(782

)

-

-

(782

)

At 31 December 2024

10,722

10,640

39,881

47,462

108,705

DEPRECIATION

At 1 January 2024

10,722

9,962

27,259

43,993

91,936

Charge for year

-

590

9,171

1,387

11,148

Eliminated on disposal

-

(710

)

-

-

(710

)

At 31 December 2024

10,722

9,842

36,430

45,380

102,374

NET BOOK VALUE

At 31 December 2024

-

798

3,451

2,082

6,331

At 31 December 2023

-

553

12,622

3,469

16,644

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

83,990

139,178

Amounts owed by group undertakings

99,362

149,965

Prepayments & accrued income

7,275

6,406

190,627

295,549

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

12,236

28,275

Corporation tax

13,986

28,968

PAYE/NI

399

3,171

VAT

21,117

19,627

Other creditors

1,800

1,800

Accruals & deferred income

4,400

57,374

53,938

139,215

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

R Flynn

Balance outstanding at start of year

-

(10,315

)

Amounts advanced

-

10,315

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The director's loan has no set repayment terms and does not attract interest.

10.	RELATED PARTY DISCLOSURES

Included within debtors are amounts owed to Millvale Engineering Limited by George Lee Precision Engineering Ltd, a wholly owned subsidiary. There are no repayment terms or interest charged on this loan.