REGISTERED NUMBER: 13154627 (England and Wales)

MILKWOOD ARTISANS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R E Baker

D J Baker

REGISTERED OFFICE:

Vernon House

40 New North Road

Huddersfield

HD1 5LS

REGISTERED NUMBER:

13154627 (England and Wales)

ACCOUNTANTS:

SMH Sheards

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

FIXED ASSETS

Intangible assets

4

10,106

15,290

Tangible assets

5

20,734

26,145

30,840

41,435

CURRENT ASSETS

Stocks

15,256

22,294

Debtors

6

2,475

3,283

Cash at bank

2,953

1,048

20,684

26,625

CREDITORS

Amounts falling due within one year

7

(180,261

)

(165,708

)

NET CURRENT LIABILITIES

(159,577

)

(139,083

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(128,737

)

(97,648

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(128,837

)

(97,748

)

SHAREHOLDERS' FUNDS

(128,737

)

(97,648

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 6 October 2025 and were signed on its behalf by:

R E Baker - Director

D J Baker - Director

1.	STATUTORY INFORMATION

Milkwood Artisans 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.

Turnover

Turnover represents the invoiced value of goods, net of value added tax, recognised at the time of their supply.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five 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.

Patents and licences are being amortised evenly over their estimated useful life of eight years.

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 etc

-

33% on cost and 25% 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 recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event accruing after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, loans, and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

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.

Hire purchase and leasing commitments

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

18,217

12,316

30,533

AMORTISATION

At 1 February 2024

11,000

4,243

15,243

Charge for year

3,644

1,540

5,184

At 31 January 2025

14,644

5,783

20,427

NET BOOK VALUE

At 31 January 2025

3,573

6,533

10,106

At 31 January 2024

7,217

8,073

15,290

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

55,718

Additions

1,700

At 31 January 2025

57,418

DEPRECIATION

At 1 February 2024

29,573

Charge for year

7,111

At 31 January 2025

36,684

NET BOOK VALUE

At 31 January 2025

20,734

At 31 January 2024

26,145

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,475

3,283

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

9,321

9,243

Taxation and social security

6,330

3,956

Other creditors

164,610

152,509

180,261

165,708

8.	RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £113,435 (2024 - £108,255) were outstanding at the year end, the amounts are repayable on demand.

Loans owing to related parties as at 31 January 2025 was £43,010 (2024 £43,010l). The amounts are repayable on demand and are interest free.

9.	GOING CONCERN

The business is dependant on the continuing support of the directors.