REGISTERED NUMBER: 06861153 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

P.S. MILLAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P S Millan

SECRETARY:

Mr D F Noble

REGISTERED OFFICE:

26-28 Stuart Street

Luton

Bedfordshire

LU1 2SW

REGISTERED NUMBER:

06861153 (England and Wales)

ACCOUNTANTS:

Duncan and Toplis Limited

Pinnacle House

1 Pinnacle Way

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Intangible assets

4

14,000

19,865

CURRENT ASSETS

Debtors

5

322,092

430,541

Cash at bank

99

178

322,191

430,719

CREDITORS

Amounts falling due within one year

6

359,360

428,204

NET CURRENT (LIABILITIES)/ASSETS

(37,169

)

2,515

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,169

)

22,380

CAPITAL AND RESERVES

Called up share capital

7

100

1

Retained earnings

(23,269

)

22,379

SHAREHOLDERS' FUNDS

(23,169

)

22,380

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 his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2025 and were signed by:

Mr P S Millan - Director

1.	STATUTORY INFORMATION

P.S. Millan 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.

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.

Goodwill

Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives as follows:

Goodwill - ten 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

Pension contributions are made to the director's personal pension plan. Contributions payable for the year are charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

786,216

AMORTISATION

At 1 April 2024

766,351

Charge for year

5,865

At 31 March 2025

772,216

NET BOOK VALUE

At 31 March 2025

14,000

At 31 March 2024

19,865

Goodwill arose on the purchase of the company's share in Noble Solicitors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Due from Noble Solicitors

142,710

120,431

Other debtors

141,097

131,452

Director's current accounts

38,285

178,658

322,092

430,541

Other than as stated under directors' current accounts, none of the above amounts related to amounts due from the director or shareholder of the company either directly or indirectly.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

13,168

25,978

Tax

14,951

5,057

Social security and other taxes

3,012

3,006

Other creditors

326,202

392,273

Accruals and deferred income

2,027

1,890

359,360

428,204

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mr P S Millan

Balance outstanding at start of year

178,658

145,280

Amounts advanced

294,300

200,387

Amounts repaid

(434,673

)

(167,009

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

38,285

178,658

Interest was charged on the director's advances at HM Revenue & Customs official rate of interest being 2.25% per annum.

The outstanding advances were repaid within nine months of the year end.