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Registered number: 01305803
Milverdene Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Hallys & Co
Chartered Accountants
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
Milverdene Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Milverdene Limited
Balance Sheet
As At 31 May 2025
Balance Sheet
Registered number: 01305803

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 3,575,016 |  | 3,513,609
Investment Properties | 5 |  | 104,638 |  | 104,638
|  |  | 3,679,654 |  | 3,618,247
CURRENT ASSETS
Stocks | 6 | 159,450 |  | 358,023 |
Debtors | 7 | 1,652,635 |  | 1,409,768 |
Investments | 8 | 249,736 |  | 249,736 |
Cash at bank and in hand |  | 11,012,139 |  | 10,039,027 |
|  | 13,073,960 |  | 12,056,554 |
Creditors: Amounts Falling Due Within One Year | 9 | (1,408,203 ) |  | (2,593,692 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 11,665,757 |  | 9,462,862
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 15,345,411 |  | 13,081,109
NET ASSETS |  |  | 15,345,411 |  | 13,081,109
CAPITAL AND RESERVES
Called up share capital | 10 |  | 2 |  | 2
Revaluation reserve | 11 |  | 390,622 |  | 390,622
Profit and Loss Account |  |  | 14,954,787 |  | 12,690,485
SHAREHOLDERS' FUNDS |  |  | 15,345,411 |  | 13,081,109

Page 1
Page 2
Milverdene Limited
Balance Sheet (continued)
As At 31 May 2025
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Philip Wagstaff Director
04/02/2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Milverdene Limited
Notes to the Financial Statements
For The Year Ended 31 May 2025
Notes to the Financial Statements
1. General Information
Milverdene Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01305803 . The registered office is Unit B, Jubilee Close, London, NW9 8TR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | No depreciation
Plant & Machinery | 15% reducing balance
Motor Vehicles | 25% reducing balance
Fixtures & Fittings | 15% reducing balance
Computer Equipment | 15% reducing balance

2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
Milverdene Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2024: 28)
30 28
4. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 June 2024 | 3,187,101 | 11,792 | 633,959 | 17,323
Additions | - | - | 156,190 | 6,910
Disposals | - | (894 ) | (139,961 ) | (17,323 )
As at 31 May 2025 | 3,187,101 | 10,898 | 650,188 | 6,910
Depreciation
As at 1 June 2024 | - | 10,898 | 363,878 | 16,539
Provided during the period | - | - | 101,351 | 1,037
Disposals | - | - | (119,096 ) | (16,539 )
As at 31 May 2025 | - | 10,898 | 346,133 | 1,037
Net Book Value
As at 31 May 2025 | 3,187,101 | - | 304,055 | 5,873
As at 1 June 2024 | 3,187,101 | 894 | 270,081 | 784

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 June 2024 | 98,624 | 3,948,799
Additions | 37,000 | 200,100
Disposals | - | (158,178 )
As at 31 May 2025 | 135,624 | 3,990,721
Depreciation
As at 1 June 2024 | 43,875 | 435,190
Provided during the period | 13,762 | 116,150
Disposals | - | (135,635 )
As at 31 May 2025 | 57,637 | 415,705

...CONTINUED
Page 4
Page 5
Milverdene Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025

Net Book Value
As at 31 May 2025 | 77,987 | 3,575,016
As at 1 June 2024 | 54,749 | 3,513,609

5. Investment Property

| 2025
--- | ---
| £
Fair Value
As at 1 June 2024 and 31 May 2025 | 104,638

6. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Finished goods | 6,210 |  | 4,762
Work in progress | 153,240 |  | 353,261
| 159,450 |  | 358,023

7. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 343,094 |  | 190,213
Prepayments and accrued income | 12,995 |  | 12,995
Other debtors | 23,055 |  | 6,560
| 379,144 |  | 209,768
Due after more than one year
Inter-company loans | 1,273,491 |  | 1,200,000
| 1,652,635 |  | 1,409,768

8. Current Asset Investments

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Unlisted investments | 249,736 |  | 249,736

9. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 143,941 |  | 526,134
Corporation tax | 341,893 |  | 815,383
Other taxes and social security | 45,452 |  | 50,669
VAT | 427,678 |  | 578,706
Net wages | 771 |  | 175
Other creditors | 12,182 |  | 20,090
Accruals and deferred income | 310,960 |  | 464,878
Shareholders loan | 121,561 |  | 133,972
Director's loan account | 3,765 |  | 3,685
| 1,408,203 |  | 2,593,692

Page 5
Page 6
Milverdene Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
10. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 2 |  | 2

11. Reserves

| Revaluation reserve | Profit and Loss Account
--- | --- | ---
| £ | £
As at 1 June 2024 | 390,622 | 12,690,485
Profit for the year and total comprehensive income | - | 2,464,302
Dividends paid | - | (200,000)
As at 31 May 2025 | 390,622 | 14,954,787

12. Related Party Transactions
Included in debtors due after more than one year is an inter-company loan which comprises of a loan to an associated company Milverdene Properties Limited (previously known as Milverdene Hotels Limited) in the sum of £1,200,000. The director, Mr Philip Wagstaff, is also a director of Milverdene Properties Limited (previously known as Milverdene Hotels Limited).
Also included in debtors due after more than one year is an inter-company loan which comprises of a loan to an associated company Milverdene Hotels Trading Limited in the sum of £73,491. The director, Mr Philip Wagstaff, is also a director of Milverdene Hotels Trading Limited.
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