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Company No: 08466024 (England and Wales)

# MILLBRAE TRADING LTD

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

MILLBRAE TRADING LTD

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

MILLBRAE TRADING LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
MILLBRAE TRADING LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 36,743 |  | 36,743
|  | 36,743 |  | 36,743
Current assets |  |  |  |
Debtors | 4 | 947,631 |  | 603,868
Cash at bank and in hand |  | 11,861 |  | 53,624
|  | 959,492 |  | 657,492
Creditors: amounts falling due within one year | 5 | ( 799,427) |  | ( 494,362)
Net current assets |  | 160,065 |  | 163,130
Total assets less current liabilities |  | 196,808 |  | 199,873
Creditors: amounts falling due after more than one year | 6 | ( 1,772) |  | ( 6,314)
Net assets |  | 195,036 |  | 193,559
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 194,936 |  | 193,459
Total shareholder's funds |  | 195,036 |  | 193,559

For the financial year ending 31 March 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 member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Millbrae Trading Ltd (registered number: 08466024) were approved and authorised for issue by the Director. They were signed on its behalf by:

M P Jacobs Director |

01 June 2026

MILLBRAE TRADING LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
MILLBRAE TRADING LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Millbrae Trading Ltd (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The financial statements have been prepared on the going concern basis which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.

##### Foreign currency

The Company's functional and presentational currency is GBP.
Foreign currency transactions are translated into the functional currency using average monthly exchange rates.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.

##### Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover comprises profits and losses from trading activities.
Turnover is recognised on settlement dates on a mark-to-market basis.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Fixed asset investments

Investments represent the capital contribution payable as a Member of an LLP. This contribution has been measured at cost less accumulated impairment.

##### 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.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors, accruals and amounts owed to related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including the director | 1 |  | 1

#### 3. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 36,743 |  | 36,743
At 31 March 2025 | 36,743 |  | 36,743
Carrying value at 31 March 2025 | 36,743 |  | 36,743
Carrying value at 31 March 2024 | 36,743 |  | 36,743

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by parent undertakings | 487,591 |  | 222,070
Other debtors | 460,040 |  | 381,798
| 947,631 |  | 603,868

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 4,594 |  | 4,595
Trade creditors | 0 |  | 2,880
Accruals | 11,400 |  | 9,779
Taxation and social security | 101,591 |  | 78,152
Other creditors | 681,842 |  | 398,956
| 799,427 |  | 494,362

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 1,772 |  | 6,314

#### 7. Related party transactions

Included within other debtors due within one year is an amount due from the Director of £235,140 (2024: £235,199). During the year, the director repaid £5,280. Interest was charged on the loan of £5,221 (2024: £5,275) at the rate of 2.25% (2024: 2.25%) per annum.
Included within other creditors due within one year is a balance of £669,398 (2024: £393,668) owed to an entity in which the Director has significant influence. This balance is unsecured and interest-free with no fixed repayment terms.
Included within debtors due within one year are trading profits owed by a company in which the Director has significant influence of £130,797 (2024: £24,919). This balance is unsecured and interest-free with no fixed repayment terms.

#### 8. Loans

Analysis of the maturity of bank loans is given below:

| 2025 |  | 2024
| £ |  | £
Amounts falling due within one year | 4,594 |  | 4,595
Amounts falling due 1-2 years | 1,772 |  | 4,715
Amounts falling due 2-5 years | 0 |  | 1,599
| 6,366 |  | 10,909

#### 9. Ultimate controlling party

Parent Company:

Quintin UK Limited
35 Ballards Lane London N3 1XW

The principal place of business is 77-79 Maygrove Road, London, NW6 2EG.