Registration number: 04192786

Mills & Son Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Mills & Son Ltd

Company Information

Directors

Mr M C Howe Mrs J M Howe

Company secretary

Mrs K L Howe

Registered office

The Stores Clyst St Mary Exeter Devon EX5 1BR

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Mills & Son Ltd

(Registration number: 04192786)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	3,770	4,435
Current assets
Debtors	5	2,974	2,348
Cash at bank and in hand		13,330	14,324
		16,304	16,672
Creditors: Amounts falling due within one year	6	(3,322)	(163,975)
Net current assets/(liabilities)		12,982	(147,303)
Net assets/(liabilities)		16,752	(142,868)
Capital and reserves
Called up share capital		302	302
Retained earnings		16,450	(143,170)
Shareholders' funds/(deficit)		16,752	(142,868)

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 1 October 2026 and signed on its behalf by:
 

......................................... Mr M C Howe Director

Mills & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Stores
Clyst St Mary
Exeter
Devon
EX5 1BR

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Mills & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

Mills & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 March 2025	94,673	94,673
At 28 February 2026	94,673	94,673
Depreciation
At 1 March 2025	90,238	90,238
Charge for the year	665	665
At 28 February 2026	90,903	90,903
Carrying amount
At 28 February 2026	3,770	3,770
At 28 February 2025	4,435	4,435

5

Debtors

	2026 £	2025 £
Other debtors	2,846	2,220
Prepayments and accrued income	128	128
Total current trade and other debtors	2,974	2,348

6

Creditors

	Note	2026 £	2025 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		-	160,653
Other creditors		2,622	2,622
Accrued expenses		700	700
		3,322	163,975