REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 |
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MILLS ELECTRICAL LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 |
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FOR |
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MILLS ELECTRICAL LIMITED |
MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Certified Accountants' Report | 8 |
MILLS ELECTRICAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
11 Stratford Road |
Shirley |
Solihull |
West Midlands |
B90 3LU |
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BANKERS: |
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Business Banking Centre |
Abbey National House |
301 St Vincent Street |
Glasgow |
G2 5NT |
MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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BALANCE SHEET |
5 APRIL 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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BALANCE SHEET - continued |
5 APRIL 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2021 |
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1. | STATUTORY INFORMATION |
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Mills Electrical 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. The company's principal place of business is 30 Bourton Road, Olton, Solihull, B92 8AY. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net sales of goods and services provided in the accounting period, including amounts recoverable on contracts and excluding value added tax. |
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Amounts recoverable on contracts are services provided by the end of the accounting period but not invoiced at that time. They are calculated at sales values and shown on the Balance Sheet as part of debtors. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 6 April 2020 |
and 5 April 2021 |
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AMORTISATION |
At 6 April 2020 |
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Charge for year |
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At 5 April 2021 |
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NET BOOK VALUE |
At 5 April 2021 |
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At 5 April 2020 |
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MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 6 April 2020 |
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Additions |
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Disposals |
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At 5 April 2021 |
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DEPRECIATION |
At 6 April 2020 |
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Charge for year |
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Eliminated on disposal |
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At 5 April 2021 |
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NET BOOK VALUE |
At 5 April 2021 |
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At 5 April 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 |
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MILLS ELECTRICAL LIMITED (REGISTERED NUMBER: 04281569) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2021 |
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9. | RELATED PARTY DISCLOSURES |
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The company was loaned money from the director's Mr S Mills and Mrs M Mills. The balances of the loans at 5 April 2021 were £2,274 and £2,089. (2020 -£1,826 and £1,740) respectively. |
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The loans are interest free and have no fixed repayment schedule. |
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CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MILLS ELECTRICAL LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mills Electrical Limited for the year ended 5 April 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Mills Electrical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mills Electrical Limited and state those matters that we have agreed to state to the Board of Directors of Mills Electrical Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Mills Electrical 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 Mills Electrical Limited. You consider that Mills Electrical Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Mills Electrical 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. |
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Chartered Certified Accountants |
11 Stratford Road |
Shirley |
Solihull |
West Midlands |
B90 3LU |
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