Company registration number 01362291 (England and Wales)
JOHN MILLER (CORSHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
JOHN MILLER (CORSHAM) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
JOHN MILLER (CORSHAM) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,984
871,711
Investment properties
4
1,200,000
372,000
Investments
5
61,136
54,778
1,284,120
1,298,489
Current assets
Stocks
-
0
234,997
Debtors
6
238,340
12,486
Cash at bank and in hand
9,166
72,932
247,506
320,415
Creditors: amounts falling due within one year
7
(37,017)
(59,421)
Net current assets
210,489
260,994
Total assets less current liabilities
1,494,609
1,559,483
Creditors: amounts falling due after more than one year
8
-
0
(4,409)
Provisions for liabilities
(143,945)
(147,537)
Net assets
1,350,664
1,407,537
Capital and reserves
Called up share capital
9
75
75
Revaluation reserve
-
0
591,290
Fair value reserve
747,514
231,729
Profit and loss reserves
603,075
584,443
Total equity
1,350,664
1,407,537
JOHN MILLER (CORSHAM) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 1A - small entities.

The financial statements were approved by the board of directors and authorised for issue on 26 August 2026 and are signed on its behalf by:
Mr I J Miller
Mrs J W Miller
Director
Director
Mr S J Miller
Director
Company Registration No. 01362291
JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

John Miller (Corsham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bath Road, Chippenham, Wiltshire, SN14 0RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

An entity shall present a complete set of financial statements annually, including comparative information from the previous financial year. The accounting period for this set of financial statements is a period of twelve months. The comparative period covers a period of fifteen months,T h e accounting period for the previous set of financial statements was extended as to align with a calendar year. For this reason, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.4
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Freehold land - Nil
Buildings - 2% straight line
Plant and machinery
10% straight line
Fixtures and fittings
10% - 33% straight line
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
17
JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
828,000
176,773
1,004,773
Additions
-
0
30,145
30,145
Disposals
-
0
(149,440)
(149,440)
Transfers
(828,000)
-
0
(828,000)
At 31 December 2025
-
0
57,478
57,478
Depreciation and impairment
At 1 January 2025
-
0
133,062
133,062
Depreciation charged in the year
-
0
7,662
7,662
Eliminated in respect of disposals
-
0
(106,230)
(106,230)
At 31 December 2025
-
0
34,494
34,494
Carrying amount
At 31 December 2025
-
0
22,984
22,984
At 31 December 2024
828,000
43,711
871,711
4
Investment property
2025
£
Fair value
At 1 January 2025
372,000
Transfers from tangible fixed assets
828,000
At 31 December 2025
1,200,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at John Miller (Corsham) Ltd at Bath Road, Chippenham by Strakers Holdings Limited, who are not connected with the company. Freehold land and buildings were valued at a market value of £1,2 00,000 in September 20 20 which includes the investment property above.

Freehold land and buildings were valued by the directors as at 31 December 2025 at £1,2 00,000 (2024 £1,200,000) in line with the above valuation from Strakers Holdings Limited.

The directors have taken the view that the property value has remained consistent in comparison to t he previous year as the commercial rents received have continued to be collected on the same basis as in previous years.

Following the disposal of the trade and trading assets on 1 January 2025, the freehold element of the property was reclassified from property, plant and equipment to investment property. This reflects the change in use of the retail premises previously occupied by the company for trading purposes, which are now being leased to third parties on a commercial basis.

JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
61,136
54,778
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2025
54,778
Valuation changes
6,358
At 31 December 2025
61,136
Carrying amount
At 31 December 2025
61,136
At 31 December 2024
54,778
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,478
8,507
Other debtors
58,862
3,979
64,340
12,486
2025
2024
Amounts falling due after more than one year:
£
£
Trade debtors
174,000
-
0
Total debtors
238,340
12,486
JOHN MILLER (CORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
4,409
10,397
Trade creditors
11,250
16,645
Taxation and social security
7,492
18,734
Other creditors
13,866
13,645
37,017
59,421

Included within other creditors is a directors loan account balance of £5,876 (20 24 £876).

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
4,409

Bank borrowings are secured by a mortgage over the company's freehold premises and by a fixed and floating charge over the other assets of the company.

The amounts outstanding on the hire purchase agreements are secured by fixed charges over the company's motor vehicle.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
75
75
75
75
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