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Registration number: 03446567

Mill-Tek Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

Mill-Tek Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

Mill-Tek Limited

Company Information

Director | Mr Peter Roberts

Company secretary | Mr Benjamin Peter Roberts

Registered office | c/o Unit 2 Mill Park Industrial Estate White Cross Road Woodbury Salterton Devon EX4 1EL

Solicitors | Linford Browns Magnolia House Church Street Exmouth Devon EX8 1HQ

Accountants | Neil Wilson & Co Chartered Accountants Bank Chambers 260-262 Union Street Torquay Devon TQ2 5QU

Mill-Tek Limited

(Registration number: 03446567)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 522,005 | 522,674
Current assets |  |  |
Debtors | 5 | 165,458 | 160,662
Cash at bank and in hand |  | 1,314 | 3,359
|  | 166,772 | 164,021
Creditors: Amounts falling due within one year | 6 | (226,476) | (249,213)
Net current liabilities |  | (59,704) | (85,192)
Total assets less current liabilities |  | 462,301 | 437,482
Provisions for liabilities |  | (547) | (547)
Net assets |  | 461,754 | 436,935
Capital and reserves |  |  |
Called up share capital | 7 | 1,000 | 1,000
Revaluation reserve |  | 166,081 | 166,081
Retained earnings |  | 294,673 | 269,854
Shareholders' funds |  | 461,754 | 436,935

For the financial year ending 30 April 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 Profit and Loss Account.

Approved and authorised by the director on 21 November 2025

......................................... Mr Peter Roberts Director

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
c/o Unit 2 Mill Park Industrial Estate
White Cross Road
Woodbury Salterton
Devon
EX4 1EL

The principal place of business is:
Unit 2 Mill Park Industrial Estate
White Cross Road
Woodbury Salterton
Devon
EX4 1EJ

These financial statements were authorised for issue by the director on 21 November 2025.

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.

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 convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Motor vehicles | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 1).

4 | Tangible assets

| Land and buildings £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 May 2024 | 520,000 | 6,000 | 71,250 | 597,250
At 30 April 2025 | 520,000 | 6,000 | 71,250 | 597,250
Depreciation
At 1 May 2024 | - | 5,968 | 68,608 | 74,576
Charge for the year | - | 8 | 661 | 669
At 30 April 2025 | - | 5,976 | 69,269 | 75,245
Carrying amount
At 30 April 2025 | 520,000 | 24 | 1,981 | 522,005
At 30 April 2024 | 520,000 | 32 | 2,642 | 522,674

Included within the net book value of land and buildings above is £520,000 (2024 - £520,000) in respect of freehold land and buildings.

Revaluation

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

The fair value of the company's Land and Buildings was revalued on 9 February 2018 by an independent valuer. . The name and qualification of the independent valuer are N Thorner MRICS of Symonds and Sampson Chartered Surveyors..
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2024 - £353,919).

5 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 165,458 | 160,662
| 165,458 | 160,662

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 167,137 | 177,566
Trade creditors |  | 661 | 4,861
Taxation and social security |  | 35,200 | 35,034
Accruals and deferred income |  | 1,995 | 1,965
Other creditors |  | 21,483 | 29,787
|  | 226,476 | 249,213

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 1,000 | 1,000 | 1,000 | 1,000

8 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

| Revaluation reserve £ | Total £
Surplus/deficit on property, plant and equipment revaluation | 41,081 | 41,081

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

| Revaluation reserve £ | Total £
Surplus/deficit on property, plant and equipment revaluation | 41,081 | 41,081

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 167,137 | 177,566

10 | Dividends

|  | 2025 |  | 2024
|  | £ |  | £
Interim dividend of £16.00 (2024 - £26.00) per ordinary share |  | 26,000 |  | 26,000

11 | Related party transactions

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Transactions with the director

2025 | At 1 May 2024 £ | Advances to director £ | At 30 April 2025 £
Mr Peter Roberts
Director loan | (6,725) | 11,521 | 4,796

2024 | At 1 May 2023 £ | Advances to director £ | At 30 April 2024 £
Mr Peter Roberts
Director loan | (36,282) | 29,557 | (6,725)

Mill-Tek Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Director's remuneration

The director's remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 12,570 | 12,570

Dividends paid to the director

|  | 2025 £ |  | 2024 £
Mr Peter Roberts |  |  |  |
Interim dividend paid |  | 26,000 |  | 26,000