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Registration number: 04464292

Milton Keynes Upholsterers Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 August 2025

Milton Keynes Upholsterers Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

Milton Keynes Upholsterers Ltd

Company Information

Director | Mr P Cook

Registered office | Unit 5a Rook Tree Business Park Hulcote Milton Keynes Buckinghamshire MK17 8BW

Milton Keynes Upholsterers Ltd

(Registration number: 04464292)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 2,584 | 3,025
Current assets |  |  |
Stocks | 5 | 812 | 690
Debtors | 6 | 4,512 | 2,460
|  | 5,324 | 3,150
Creditors: Amounts falling due within one year | 7 | (69,150) | (64,635)
Net current liabilities |  | (63,826) | (61,485)
Net liabilities |  | (61,242) | (58,460)
Capital and reserves |  |  |
Called up share capital | 8 | 2 | 2
Retained earnings |  | (61,244) | (58,462)
Shareholders' deficit |  | (61,242) | (58,460)

For the financial year ending 31 August 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 5 January 2026

......................................... Mr P Cook Director

Milton Keynes Upholsterers Ltd

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

1 | General information

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

The address of its registered office is:
Unit 5a
Rook Tree Business Park
Hulcote
Milton Keynes
Buckinghamshire
MK17 8BW
England

These financial statements were authorised for issue by the director on 5 January 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis. The director believes the company will be in a financial position to meet its liabilities as and when they fall due. Included within creditors due within one year is a loan from the director amounting to £52,753, which the director does not anticipate recalling until the company is in a financial position to repay the monies.

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.

Milton Keynes Upholsterers Ltd

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

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
Motor Vehicles | 25% Reducing Balance
Plant & Machinery | 15% Reducing Balance
Fixtures & Fittings | 25% Reducing Balance

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, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Milton Keynes Upholsterers Ltd

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

3 | Staff numbers

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

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 September 2024 | 1,607 | 11,300 | 8,562 | 21,469
Additions | 301 | - | - | 301
Disposals | - | - | (100) | (100)
At 31 August 2025 | 1,908 | 11,300 | 8,462 | 21,670
Depreciation
At 1 September 2024 | 1,491 | 9,289 | 7,664 | 18,444
Charge for the year | 104 | 503 | 135 | 742
Eliminated on disposal | - | - | (100) | (100)
At 31 August 2025 | 1,595 | 9,792 | 7,699 | 19,086
Carrying amount
At 31 August 2025 | 313 | 1,508 | 763 | 2,584
At 31 August 2024 | 116 | 2,011 | 898 | 3,025

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 812 | 690

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 4,512 | 2,460
| 4,512 | 2,460

Milton Keynes Upholsterers Ltd

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

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 3,453 | 4,732
Trade creditors |  | 5,374 | 1,942
Taxation and social security |  | 4,128 | 3,952
Accruals and deferred income |  | 1,360 | 1,200
Other creditors |  | 54,835 | 52,809
|  | 69,150 | 64,635

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 2 | 2 | 2 | 2

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank overdrafts | 3,453 | 4,732