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Registered number: 13160140 MILLSWORTH PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
MILLSWORTH PROPERTIES LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MILLSWORTH PROPERTIES LIMITED FOR THE YEAR ENDED 31 MARCH 2026 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Millsworth Properties Limited for the year ended 31 March 2026 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the Board of Directors of Millsworth Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Millsworth Properties Limited and state those matters that we have agreed to state to the Board of Directors of Millsworth Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Millsworth Properties Limited and its Board of Directors, as a body, for our work or for this report. It is your duty to ensure that Millsworth Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Millsworth Properties Limited. You consider that Millsworth Properties Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Millsworth Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. Shorts Chartered Accountants 2 Ashgate Road Chesterfield Derbyshire S40 4AA 21 July 2026 Page 1
MILLSWORTH PROPERTIES LIMITED REGISTERED NUMBER: 13160140 BALANCE SHEET AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 6,452 |  | 6,017
Investment property | 5 |  | 725,000 |  | 725,000
|  |  | 731,452 |  | 731,017
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,483 |  | 1,058 |
Cash at bank and in hand |  | 1,797 |  | 3,412 |
|  | 3,280 |  | 4,470 |
Creditors: amounts falling due within one year | 7 | (362,419) |  | (360,540) |
Net current liabilities |  |  | (359,139) |  | (356,070)
Provisions for liabilities |  |  |  |  |
Deferred tax | 8 |  | (92,439) |  | (92,798)
Net assets |  |  | 279,874 |  | 282,149
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account | 9 |  | 279,872 |  | 282,147
|  |  | 279,874 |  | 282,149
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MILLSWORTH PROPERTIES LIMITED REGISTERED NUMBER: 13160140 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2026 The directors consider 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 directors acknowledge their 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 21 July 2026.
Mr A J Mills
Director
The notes on pages 4 to 8 form part of these financial statements. Page 3
MILLSWORTH PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Millsworth Properties Limited is a private company limited by shares, incorporated in England and Wales (registered number: 13160140). Its registered office address is 65 Stumperlowe Crescent Road, Sheffield, S10 3PR. The principal activity of the Company throughout the year was that of an property investment company. 2.Accounting policies
| 2.1 | 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 Company's functional and presentation currency is pounds sterling. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue 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. Rental income is recognised over the period under which the property is leased.
| 2.3 | Operating leases: the Company as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
MILLSWORTH PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
| 2.6 | 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 33% | Straight line
|  |  |  | Computer equipment | - | 33% | 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.
| 2.7 | Investment property
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2025 - 3).
Page 5
MILLSWORTH PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
4. | Tangible fixed assets
|  | Office equipment | Computer equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2025 | 3,270 | 6,660 | 9,930
| Additions | - | 3,561 | 3,561
| At 31 March 2026 | 3,270 | 10,221 | 13,491
| Depreciation |  |  |
| At 1 April 2025 | 1,439 | 2,474 | 3,913
| Charge for the year on owned assets | 944 | 2,182 | 3,126
| At 31 March 2026 | 2,383 | 4,656 | 7,039
| Net book value |  |  |
| At 31 March 2026 | 887 | 5,565 | 6,452
| At 31 March 2025 | 1,831 | 4,186 | 6,017
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MILLSWORTH PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 April 2025 | 725,000
| At 31 March 2026 | 725,000
The 2026 valuations were made by the directors, on an open market value basis.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Historic cost | 358,643 | 358,643
6. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Prepayments and accrued income | 1,483 | 1,058
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 1,169 | -
| Other taxation and social security | 625 | 9
| Other creditors | 358,641 | 358,641
| Accruals and deferred income | 1,984 | 1,890
|  | 362,419 | 360,540
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MILLSWORTH PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
8. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | 92,798
| Charged to profit or loss | (359)
| At end of year | 92,439
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Accelerated capital allowances | 1,613 | 1,504
| Tax losses carried forward | (763) | (296)
| Deferred tax on revaluation of investment property | 91,589 | 91,590
|  | 92,439 | 92,798
9. | Reserves
Profit and loss account Both previous UK GAAP and FRS102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revlaution reserve, which, being an unrealised surplus, did not form part of the company's distributable reserves, FRS102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account. Consequently, the Profit and Loss Account reserve at 31 March 2026 includes a non-distributable amount of £274,767 (2025: £274,767)..
10. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £39,166 (2025: £22,914).
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