| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| Millets Playbarn Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| Millets Playbarn Limited |
| Millets Playbarn Limited (Registered number: 10612329) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Millets Playbarn Limited |
| Company Information |
| for the Year Ended 31 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Millets Playbarn Limited (Registered number: 10612329) |
| Balance Sheet |
| 31 January 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 were approved by the Board of Directors and authorised for issue on |
| Millets Playbarn Limited (Registered number: 10612329) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| Millets Playbarn Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. |
| Sale of goods and services |
| Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year. |
| Government grants |
| Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to either revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. |
| Other income |
| Other income is recognised in the period to which it relates. |
| 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 |
| Playbarn Improvements | - |
| Playbarn Equipment | - |
| Office Equipment & Vehicles | - |
| Solar | - |
| Electrical Equipment | - |
| Stocks |
| Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised. |
| At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account. |
| Millets Playbarn Limited (Registered number: 10612329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Financial instruments |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Share capital |
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares of options are shown in equity as a deduction, net of tax, from the proceeds. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Website |
| £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 |
| AMORTISATION |
| At 1 February 2024 |
| and 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| Millets Playbarn Limited (Registered number: 10612329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 6. | TANGIBLE FIXED ASSETS |
| Short | Playbarn | Playbarn |
| leasehold | Improvements | Equipment |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| Office |
| Equipment | Electrical |
| & Vehicles | Solar | Equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Tax |
| VAT | 31,281 | 16,505 |
| Other creditors |
| Millets Playbarn Limited (Registered number: 10612329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 9. | RELATED PARTY DISCLOSURES |
| JL Carter & Partners |
| A partnership in which N J Carter and A D Carter are partners. |
| During the period the company made purchases of £1,150 (2024 - £1,095) and paid management charges of £88,000 (2024 - £84,000) to J L Carter & Partners. At the year end £225 (2024 - £nil) was owed to J L Carter & Partners. |
| The company also received loan advances of £220,000 (2024 - £180,000) from J L Carter & Partners. During the period loan repayments of £130,000 (2024 - £180,000) were made and at the year end £90,000 (2024 - £nil) was owed to J L Carter & Partners. |
| Millets Farm Centre Ltd |
| A company in which N J Carter and A D Carter are directors and shareholders. |
| During the period the company made sales of £147,374 (2024 - £130,306) and received rent of £52,771 (2024 - £54,677) from Millets Farm Centre Ltd. The company made purchases of £162,985 (2024 - £262,824), paid rent of £60,000 (2024 - £60,000) and management charges of £77,029 (2024 - £78,940) to Millets Farm Centre Ltd. At the year end amounts of £43,182 (2024 - £46,081) and £11,673 (2024 - £11,903) were owed to/(due from) Millets Farm Centre Ltd. |
| The company also received loan advances of £80,000 (2024 - £nil) from Millets Farm Centre Ltd. During the period loan repayments of £80,000 (2024 - £nil) were made to repay the balance in full. |