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Registration number: 05887710

Millennium Engineering Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Millennium Engineering Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 7

Millennium Engineering Limited

(Registration number: 05887710)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 998 | -
Current assets |  |  |
Stocks |  | 20,000 | 25,000
Debtors | 5 | 353,300 | 273,630
Cash at bank and in hand |  | 90,437 | 100,921
|  | 463,737 | 399,551
Creditors: Amounts falling due within one year | 6 | (227,985) | (118,158)
Net current assets |  | 235,752 | 281,393
Total assets less current liabilities |  | 236,750 | 281,393
Provisions for liabilities |  | (250) | -
Net assets |  | 236,500 | 281,393
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 236,400 | 281,293
Shareholders' funds |  | 236,500 | 281,393

For the financial 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.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 9 October 2025

Mr C Hayman Director

Millennium Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT
United Kingdom

Principal activity

The principal activity of the company is that of steel fabrication

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost basis.

The financial statements are prepared in sterling which is the functional currency of the entity.

Millennium Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of the lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

The tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:

Asset class | Depreciation method and rate
Plant and machinery | 20% reducing balance
Motor vehicles | 25% reducing balance
Fixtures, fittings & equipment | 20% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Millennium Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Stocks

Stocks are measured at the lower of the 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 stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Millennium Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in the future payments or a cash refund.
When contributions are not expected to be settles wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in which the period arises.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2024 - 9).

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
Additions | 1,248 | 1,248
At 31 March 2025 | 1,248 | 1,248
Depreciation
Charge for the year | 250 | 250
At 31 March 2025 | 250 | 250
Carrying amount
At 31 March 2025 | 998 | 998

Millennium Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 226,511 | 178,540
Other debtors | 88,127 | 77,090
Prepayments | 38,662 | 18,000
| 353,300 | 273,630

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 3,418 | 3,430
Trade creditors |  | 59,135 | 37,478
Taxation and social security |  | 106,149 | 64,505
Other creditors |  | 59,283 | 12,745
|  | 227,985 | 118,158

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

8 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 26,400 | 24,000
Later than one year and not later than five years | 72,000 | 90,000
| 98,400 | 114,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £25,400 (2024 - £6,000).

Millennium Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9 | Related party transactions

Loans to related parties

2024 | Parent £ | Total £
At start of period | 201,187 | 201,187
Repaid | (135,200) | (135,200)
At end of period | 65,987 | 65,987

2025 | Parent £ | Total £
At start of period | 65,987 | 65,987
Advanced | 21,600 | 21,600
At end of period | 87,587 | 87,587

Terms of loans to related parties

The loan is made to the company's parent company, Hayman Engineering Limited. The loan is repayable on demand and does not attract interest.

10 | Parent and ultimate parent undertaking

The ultimate controlling party is the holding company, Hayman Engineering Limited, whose registered office is Plym House, 3 Longbridge Road, Marsh Mills, Plymouth, Devon, PL6 8LT.