REGISTERED NUMBER: 03784611 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MILLSOME MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S L Atkinson

REGISTERED OFFICE:

5th Floor,R+ Building

2 Blagrave Street

Reading

Berkshire

RG1 1AZ

REGISTERED NUMBER:

03784611 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

5th Floor, R+ Building

2 Blagrave Street

Reading

Berkshire

RG1 1AZ

FIXED ASSETS

Tangible assets

4

13,730

3,577

Investment property

5

1,775,000

2,790,000

1,788,730

2,793,577

CURRENT ASSETS

Debtors

6

99,246

146,831

Cash at bank

1,116,542

252,689

1,215,788

399,520

CREDITORS

Amounts falling due within one year

7

(200,708

)

(59,850

)

NET CURRENT ASSETS

1,015,080

339,670

TOTAL ASSETS LESS CURRENT LIABILITIES

2,803,810

3,133,247

CREDITORS

Amounts falling due after more than one year

8

(1,000,000

)

(1,000,000

)

PROVISIONS FOR LIABILITIES

10

(62,830

)

(234,650

)

NET ASSETS

1,740,980

1,898,597

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

243,215

896,560

Retained earnings

1,497,763

1,002,035

1,740,980

1,898,597

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 31 October 2025 and were signed by:

Mrs S L Atkinson - Director

1.	STATUTORY INFORMATION

Millsome Management 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 principal activity of the company is that of property investment.

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 as modified by the revaluation of certain assets.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For long term finance the company relies on the loan provided by the director. In assessing going concern it has been assumed that this loan will not be repaid in he foreseeable future and on that basis the company continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue

Rental income from operating leases is recognised on a straight-line basis over the lease term.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in the profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 April 2024

29,028

11,552

40,580

Additions

14,501

1,005

15,506

At 31 March 2025

43,529

12,557

56,086

Depreciation

At 1 April 2024

28,347

8,656

37,003

Charge for year

3,795

1,558

5,353

At 31 March 2025

32,142

10,214

42,356

Net book value

At 31 March 2025

11,387

2,343

13,730

At 31 March 2024

681

2,896

3,577

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

2,790,000

Disposals

(915,000

)

Revaluations

(100,000

)

At 31 March 2025

1,775,000

Net book value

At 31 March 2025

1,775,000

At 31 March 2024

2,790,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

387,957

Valuation in 2017

(23,333

)

Valuation in 2024

40,796

Valuation in 2025

(100,000

)

Cost

1,469,580

1,775,000

The investment properties were valued on an open market basis on 31 March 2025 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

99,246

146,831

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

8,371

13,171

Taxation and social security

139,890

32,036

Other creditors

52,447

14,643

200,708

59,850

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

1,000,000

1,000,000

9.	SECURED DEBTS

The bank loans and overdraft due within one year and other creditors due after one year are secured by fixed charges over the investment properties.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Fixed asset timing differences

625

790

Revaluation of investment

properties

62,205

233,860

62,830

234,650

Deferred

tax

£

Balance at 1 April 2024

234,650

Credit to Income Statement during year

(171,820

)

Balance at 31 March 2025

62,830

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director received advances totalling £3,260 and repaid amounts totalling £50,846. At the year-end the amount due from the director is £73,665 (2024 - £121,251) and is included in other debtors. These amounts were unsecured and repayable on demand. No interest is due on these amounts.