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Registered number: 03641555
Millennium Jeans Ltd
Financial Statements
For The Year Ended 31 October 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03641555
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 585 721
585 721
CURRENT ASSETS
Stocks 5 76,000 57,000
Debtors 6 6,543 35,605
Cash at bank and in hand - 3,216
82,543 95,821
Creditors: Amounts Falling Due Within One Year 7 (78,223 ) (59,281 )
NET CURRENT ASSETS (LIABILITIES) 4,320 36,540
TOTAL ASSETS LESS CURRENT LIABILITIES 4,905 37,261
Creditors: Amounts Falling Due After More Than One Year 8 - (5,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (111 ) (137 )
NET ASSETS 4,794 31,291
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 4,793 31,290
SHAREHOLDERS' FUNDS 4,794 31,291
Page 1
Page 2
For the year ending 31 October 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
I Patel
Director
28/04/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Millennium Jeans Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03641555 . The registered office is 26 Chorley New Road, Bolton, BL1 4AP.
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. Going Concern Disclosure
The company is reliant upon the financial support of its directors in order to meet its liabilities as they fall due. The directors have indicated that this support will continue for the foreseeable future and, as a result, have continued to adopt the going concern basis in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents amounts recognised by the company in respect of goods supplied and principally consists of the sale of denim clothing, which is recognised at the point at which the goods are supplied.
2.4. 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:
Plant & Machinery RBM 10%
Motor Vehicles RBM 25%
Computer Equipment SLM 25%
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. Financial Instruments
Basic financial instruments are measured at amortised cost, except for investments in non-convertible preference shares and non-puttable ordinary shares, which are measured at fair value with changes recognised in profit or loss.
2.7. 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.
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.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
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: 3 (2024: 2)
3 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2024 2,608 18,980 11,355 32,943
As at 31 October 2025 2,608 18,980 11,355 32,943
Depreciation
As at 1 November 2024 2,240 18,642 11,340 32,222
Provided during the period 37 84 15 136
As at 31 October 2025 2,277 18,726 11,355 32,358
Net Book Value
As at 31 October 2025 331 254 - 585
As at 1 November 2024 368 338 15 721
5. Stocks
2025 2024
£ £
Finished goods 76,000 57,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 6,543 11,602
Other debtors - 14,300
6,543 25,902
Due after more than one year
Corporation tax recoverable assets - 9,703
6,543 35,605
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 13,200 20,639
Other taxes and social security - 203
VAT 4,960 3,235
Other creditors 23,000 23,000
Accruals and deferred income - 1,063
Director's loan account 37,063 11,141
78,223 59,281
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 5,833
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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