ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 11752402

MILLMAD PROJECTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2026

MILLMAD PROJECTS LIMITED

REGISTERED NUMBER: 11752402

BALANCE SHEET

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	272		503
Cash at bank and in hand	6	-		100
		272		603
Creditors: amounts falling due within one year	7	(3,322)		(1,826)
Net current liabilities			(3,050)		(1,223)
Total assets less current liabilities			(3,050)		(1,223)
Creditors: amounts falling due after more than one year	8		(3,067)		(4,116)

Net liabilities			(6,117)		(5,339)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(6,119)	(5,341)
	(6,117)	(5,339)

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MILLMAD PROJECTS LIMITED

REGISTERED NUMBER: 11752402

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2026

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 April 2026.

D R Hughes

Director

The notes on pages 3 to 6 form part of these financial statements.

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MILLMAD PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

1.2

Going concern

The company had net current liabilities totalling £3,050 at 31 January 2026. However, the director is of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In light of these factors, the director considers it appropriate to adopt the going concern basis in the preparation of these financial statements.

1.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

1.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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MILLMAD PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.Accounting policies (continued)

1.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

20%

straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

1.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	General information

Millmad Projects Limited is a private limited company incorporated in England and Wales.
The Registered Office isv 4 Chester Court, Chester Hall Lane, Basildon, Essex, SS14 3WR.

Employees

The average monthly number of employees, including directors, during the year was 1 (2025 - 1).

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MILLMAD PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 February 2025	1,927
	At 31 January 2026	1,927
	Depreciation
	At 1 February 2025	1,927
	At 31 January 2026	1,927
	Net book value
	At 31 January 2026	-
	At 31 January 2025	-

Debtors

					2026	2025
					£	£


Other debtors	272	503
	272	503

6.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	-	100
	-	100

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MILLMAD PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

7.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	1,035	1,023
Trade creditors	154	153
Other creditors	1,773	-
Accruals and deferred income	360	650
	3,322	1,826

8.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans	3,067	4,116
	3,067	4,116

Amounts falling due within one year
Bank loans	1,035	1,023

Amounts falling due 2-5 years
Bank loans	3,067	4,116

	4,102	5,139

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