Millgar Engineering Ltd

Financial Statements for the Year Ended 31 October 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Mills

Mr C Mills

Mr M Mills

Mr J Mills

SECRETARY:

Mr J Mills

REGISTERED OFFICE:

Unit 15, Jubilee Trade Centre

Jubilee Road

Letchworth Garden City

Hertfordshire

SG6 1SP

REGISTERED NUMBER:

04928189 (England and Wales)

ACCOUNTANTS:

Hargreaves Owen Ltd

Chartered Certified Accountants

Red Sky House

Fairclough Hall, Halls Green

Weston

Hertfordshire

SG4 7DP

FIXED ASSETS

Tangible assets

4

256,449

89,666

CURRENT ASSETS

Debtors

5

206,612

168,035

Cash at bank and in hand

189,228

118,697

395,840

286,732

CREDITORS

Amounts falling due within one year

6

216,582

160,174

NET CURRENT ASSETS

179,258

126,558

TOTAL ASSETS LESS CURRENT LIABILITIES

435,707

216,224

CREDITORS

Amounts falling due after more than one year

7

129,059

12,684

NET ASSETS

306,648

203,540

CAPITAL AND RESERVES

Called up share capital

110

110

Retained earnings

306,538

203,430

SHAREHOLDERS' FUNDS

306,648

203,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2026 and were signed on its behalf by:

Mr J Mills - Director

1.	STATUTORY INFORMATION

Millgar Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 November 2024

507,426

11,361

518,787

Additions

205,472

6,933

212,405

At 31 October 2025

712,898

18,294

731,192

DEPRECIATION

At 1 November 2024

426,281

2,840

429,121

Charge for year

41,758

3,864

45,622

At 31 October 2025

468,039

6,704

474,743

NET BOOK VALUE

At 31 October 2025

244,859

11,590

256,449

At 31 October 2024

81,145

8,521

89,666

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 November 2024

287,451

Additions

204,999

At 31 October 2025

492,450

DEPRECIATION

At 1 November 2024

225,808

Charge for year

36,765

At 31 October 2025

262,573

NET BOOK VALUE

At 31 October 2025

229,877

At 31 October 2024

61,643

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

189,112

149,558

Amounts owed by group undertakings

15,870

15,870

Prepayments and accrued income

1,630

2,607

206,612

168,035

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

48,672

19,401

Trade creditors

74,369

22,710

Corporation tax

29,953

80,520

VAT

57,776

33,550

Pension fund

982

-

Credit card

4,351

3,980

Directors' current accounts

479

13

216,582

160,174

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

129,059

12,684

8.	RELATED PARTY DISCLOSURES

Rental costs of £6,000 are paid for the use of a property owned by 2 of the 4 directors.