MILLS & CO. SOLICITORS LTD


Directors	CLARK, Nicola
	COOKE, Jonathan Michael
	GREEN, Jonathan Peter Wake
	HASHAGEN, Edwin John
	HELLSTROM-BARTRAM, Christopher Harry
	HOPPER, Neville Ian
	MILLS, Guy Burrell
	MOIR, Alastair James
	NICOLAOU, Amy
	WELZ, Andreas Graham Lucien
	WILLIAMS, Simon David


Registered Address	Portland House
	54 New Bridge Street West
	Newcastle Upon Tyne
	NE1 8AP


Registered Number	09654668 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	10
	Office Equipment	4

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	41		39

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	5,300,000	5,300,000
At 31 March 25	5,300,000	5,300,000
Amortisation and impairment
At 01 April 24	5,300,000	5,300,000
At 31 March 25	5,300,000	5,300,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Useful life of intangible assets
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 5 years and the asset will be amortised on a straight line basis over that period.

5.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	193,599	332,281	34,593	560,473
Additions	3,781	1,030	-	4,811
At 31 March 25	197,380	333,311	34,593	565,284
Depreciation and impairment
At 01 April 24	107,085	55,662	34,322	197,069
Charge for year	33,357	32,463	94	65,914
At 31 March 25	140,442	88,125	34,416	262,983
Net book value
At 31 March 25	56,938	245,186	177	302,301
At 31 March 24	86,514	276,619	271	363,404

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	3,880,965	3,867,096
Other debtors	7,711	21,592
Prepayments and accrued income	295,285	205,500
Total	4,183,961	4,094,188

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	1,025,541	765,284
Taxation and social security	632,482	763,952
Other creditors	31,402	185,337
Accrued liabilities and deferred income	43,341	37,181
Total	1,732,766	1,751,754

8.	Provisions for liabilities
	The provision for deferred tax is made up of £58,900 (2024: £54,700) accelerated capital allowances and £500 (2024: £500) short term timing differences.

	2025	2024
	£	£
Net deferred tax liability (asset)	58,400	54,200
Total	58,400	54,200

9.	Pension commitments
	The company makes pension contributions to defined contribution pension plans for its employees. At the balance sheet date £5,808 (2024: £5,108) was outstanding and included within creditors.

10.	Other commitments
	At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £367,914 (2024: £490,552).

11.	Directors advances, credits and guarantees
	On 1 April 2024, a director owed the company £2,801. During the year the director was advanced a further £234,235 and repaid £238,001. At 31 March 2025 the company owed the director £965. No interest was charged on the loan and the loan is repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	5		302,301		363,404
			302,301		363,404
Current assets
Debtors	6	4,183,961		4,094,188
Cash at bank and on hand		1,502,148		1,118,073
		5,686,109		5,212,261
Creditors amounts falling due within one year	7	(1,732,766)		(1,751,754)
Net current assets (liabilities)			3,953,343		3,460,507
Total assets less current liabilities			4,255,644		3,823,911
Provisions for liabilities	8		(58,400)		(54,200)
Net assets			4,197,244		3,769,711
Capital and reserves
Called up share capital			1,300		1,300
Other reserves			300		300
Profit and loss account			4,195,644		3,768,111
Shareholders' funds			4,197,244		3,769,711