MILBANK CARPETS LIMITED


Directors	MILBANK, Aaron James
	MILBANK, Andrew William
	MILBANK, Lorraine Dawn


Company Secretary	MILBANK, Lorraine


Registered Address	50 High Street
	Hampton Hill
	Hampton
	TW12 1PD


Registered Number	03085464 (England and Wales)

Statement of Financial Position
31 May 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		11,153		10,759
			11,153		10,759
Current assets
Stocks	4	5,210		3,966
Debtors		42,926		45,550
Cash at bank and on hand		141,481		125,669
		189,617		175,185
Creditors amounts falling due within one year	5	(99,595)		(98,638)
Net current assets (liabilities)			90,022		76,547
Total assets less current liabilities			101,175		87,306
Net assets			101,175		87,306
Capital and reserves
Called up share capital			100		51
Profit and loss account			101,075		87,255
Shareholders' funds			101,175		87,306

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 24 June 2026, and are signed on its behalf by:

MILBANK, Andrew William
Director
Registered Company No. 03085464

MILBANK CARPETS LIMITED

Notes to the Financial Statements
for the year ended 31 May 2026

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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 and fitting of flooring and carpets and is recognised when the order is placed.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	5
Fixtures and fittings	25	-
Vehicles	25	-
Office Equipment	25	-

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price).

2.	Average number of employees


		2026		2025
	Average number of employees during the year	4		4

3.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 June 25	8,500	59,825	20,820	18,256	107,401
Additions	-	-	-	4,112	4,112
At 31 May 26	8,500	59,825	20,820	22,368	111,513
Depreciation and impairment
At 01 June 25	8,500	52,712	20,148	15,282	96,642
Charge for year	-	1,778	168	1,772	3,718
At 31 May 26	8,500	54,490	20,316	17,054	100,360
Net book value
At 31 May 26	-	5,335	504	5,314	11,153
At 31 May 25	-	7,113	672	2,974	10,759

4.	Stocks

	2026	2025
	£	£
Raw materials and consumables	5,210	3,966
Total	5,210	3,966

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	40,355	34,986
Taxation and social security	52,349	55,597
Other creditors	6,891	8,055
Total	99,595	98,638

6.	Share capital
	Allotted, issued and fully paid share capital : Number : 100 Class: Ordinary Nominal value : £1 49 Ordinary £1 shares were issued during the year.