Millwood Joinery Limited

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

Registered number: 01045125

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		9,788		12,992

			9,788		12,992
CURRENT ASSETS
Stocks	5	2,541		2,226
Debtors	6	62,476		77,186
Cash at bank and in hand		66		7,664

		65,083		87,076
Creditors: Amounts Falling Due Within One Year	7	(86,231 )		(61,578 )

NET CURRENT ASSETS (LIABILITIES)			(21,148 )		25,498

TOTAL ASSETS LESS CURRENT LIABILITIES			(11,360 )		38,490

Creditors: Amounts Falling Due After More Than One Year	8		(23,611 )		(32,498 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,860 )		(2,468 )

NET (LIABILITIES)/ASSETS			(36,831 )		3,524

CAPITAL AND RESERVES
Called up share capital			51		51
Share premium account			236		236
Capital redemption reserve			(85,400 )		(85,400 )
Profit and Loss Account			48,282		88,637

SHAREHOLDERS' FUNDS			(36,831)		3,524

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Millwood Joinery Limited

Balance Sheet (continued)

As At 31 August 2025

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 M E Goddard

Director

22/05/2026

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

1. General Information

Millwood Joinery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01045125 . The registered office is Clayfields Industrial Estate, Tickhill Road, Balby, Doncaster, South Yorkshire, DN4 8QG.

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.

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:

Plant & Machinery	15% on reducing balance
Motor Vehicles	25% on reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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.

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Millwood Joinery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 7)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 September 2024	77,597	12,495	90,092

As at 31 August 2025	77,597	12,495	90,092

Depreciation
As at 1 September 2024	73,456	3,644	77,100
Provided during the period	622	2,582	3,204

As at 31 August 2025	74,078	6,226	80,304

Net Book Value
As at 31 August 2025	3,519	6,269	9,788

As at 1 September 2024	4,141	8,851	12,992

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Millwood Joinery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Stocks

	2025	2024
	£	£
Stock	2,541	2,226

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	15,672	31,348
Directors' loan accounts	35,755	34,789

	51,427	66,137
Due after more than one year
Corporation tax recoverable assets	11,049	11,049

	62,476	77,186

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,331	3,331
Trade creditors	6,006	12,925
Bank loans and overdrafts	14,708	5,556
Corporation tax	24,686	25,589
Other taxes and social security	1,119	440
VAT	33,142	10,496
Accruals and deferred income	3,200	3,200
Directors' loan accounts	39	41

	86,231	61,578

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	3,331
Bank loans	23,611	29,167

	23,611	32,498

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Millwood Joinery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,331	3,331
Later than one year and not later than five years	-	3,331

	3,331	6,662

	3,331	6,662

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 September 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2025
	£	£	£	£	£
Mr Michael Goddard	34,789	60,966	60,000	-	35,755

Beneficial loan interest of £887 (2024 - £978) has been charged on the overdrawn director's loan account.

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