REGISTERED NUMBER: 04381010 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

MILLGATE (WINCHESTER) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Carter

A Surtees

SECRETARY:

R J Carter

REGISTERED OFFICE:

1 The Limes

Northbrook Avenue

Winchester

Hampshire

SO23 0LU

REGISTERED NUMBER:

04381010 (England and Wales)

ACCOUNTANTS:

K S Goring & Co Chartered Accountants

222 Upper Richmond Road West

London

SW14 8AH

FIXED ASSETS

Tangible assets

4

4,467

12,655

CURRENT ASSETS

Debtors

5

1,226,140

1,300,471

Cash at bank

23,579

536

1,249,719

1,301,007

CREDITORS

Amounts falling due within one year

6

704,702

626,306

NET CURRENT ASSETS

545,017

674,701

TOTAL ASSETS LESS CURRENT LIABILITIES

549,484

687,356

CREDITORS

Amounts falling due after more than one year

7

13,950

60,643

NET ASSETS

535,534

626,713

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

535,334

626,513

SHAREHOLDERS' FUNDS

535,534

626,713

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 19th November 2025 and were signed on its behalf by:

R J Carter - Director

A Surtees - Director

1.	STATUTORY INFORMATION

MILLGATE (WINCHESTER) LIMITED 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.

Revenue recognition

Revenue from private housing sales and their respective profits are recognised when the property

is structurally completed and legally transferred to the purchaser. Revenue is measured at the fair value of consideration received or receivable for the property, net of vat.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost and 15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33.33% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs

The company's workplace pension scheme for its employees is provided through automatic enrolment pension scheme in line with Government legislation.

Under the terms of this scheme, employees make pension contributions out of their salaries, and the company also makes additional contributions.

Contributions payable for the year are charged to the profit and loss account in the period to which they relate. Staff contribution are charged to wages and salaries and company contribution are charged to pension cost.

Borrowing costs

Borrowing costs are recognised on an accruals basis and are payable in accordance with the loan agreement terms.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

178,006

Additions

1,990

Disposals

(1,347

)

At 31st March 2025

178,649

DEPRECIATION

At 1st April 2024

165,351

Charge for year

10,178

Eliminated on disposal

(1,347

)

At 31st March 2025

174,182

NET BOOK VALUE

At 31st March 2025

4,467

At 31st March 2024

12,655

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

75,000

-

Other debtors

1,151,140

1,300,471

1,226,140

1,300,471

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

24,792

359

Trade creditors

135,779

102,222

Taxation and social security

17,610

20,757

Other creditors

526,521

502,968

704,702

626,306

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

13,950

60,643

The bank loans are secured by a fixed charge against the land acquired for development. There is also a floating charge against other assets of the company.

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

38,742

60,643

The bank loans are secured by a fixed charge against the land acquired for development. There is also a floating charge against other assets of the company.

9.	CONTINGENT LIABILITIES

The Company has adhered to the terms and conditions within its fixed legal charge and we see no reason to make any provision for non conformance.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

i) Included within other creditors at 31st March 2025 is an amount of £406,069 (2024: £392,516) owed to the directors and shareholders of the company. Loan owed to Mr R Carter is - £406,069 (2024: £392,516) and owed to Mr A Surtees is - £Nil (2024: £Nil). Interest is payable to the director with the highest outstanding balance on the difference between the two loan account at 10%

ii) Included within other creditors at 31st March 2025 is an amount of £105,452 (2024 - £95,452) owed

to Chalkfield Winchester Limited. This loan is interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £52,500 (2024 - £65,350) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party.