Frederick R. Miller Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01853823 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

FREDERICK R. MILLER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

Mrs E Carpenter

I F Miller

SECRETARY:

Mrs E Carpenter

REGISTERED OFFICE:

Forsyths Home Farm

Shackleford

Godalming

Surrey

GU8 6AD

REGISTERED NUMBER:

01853823 (England and Wales)

ACCOUNTANTS:

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

FIXED ASSETS

Tangible assets

4

209,137

200,272

Investments

5

100

100

209,237

200,372

CURRENT ASSETS

Stocks

23,897

24,432

Debtors

6

1,404,336

1,342,805

Cash at bank and in hand

296,101

340,225

1,724,334

1,707,462

CREDITORS

Amounts falling due within one year

7

1,175,641

1,349,477

NET CURRENT ASSETS

548,693

357,985

TOTAL ASSETS LESS CURRENT LIABILITIES

757,930

558,357

CREDITORS

Amounts falling due after more than one year

8

(17,222

)

(62,068

)

PROVISIONS FOR LIABILITIES

(30,531

)

(24,732

)

NET ASSETS

710,177

471,557

CAPITAL AND RESERVES

Called up share capital

95,100

95,100

Share premium

95,000

95,000

Retained earnings

520,077

281,457

SHAREHOLDERS' FUNDS

710,177

471,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 8 November 2023 and were signed on its behalf by:

I F Miller - Director

1.	STATUTORY INFORMATION

Frederick R. Miller 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.

Turnover

Turnover 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. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of revenue can be measured reliably;

- It is probable that the company will receive the consideration due under the contract;

- The stage of completion of the contract at the end of the reporting period can be measured reliably and

- The costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Land and buildings

-

20% straight line and 10% straight line

Plant and machinery etc

-

25% on reducing balance, 20% straight line and 15% on cost

Stocks

Stocks are stated at the lower of the cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a FIFO basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date stocks are assessed for impairment. If stock is impaired the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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 and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2022 - 56 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2022

339,154

819,779

1,158,933

Additions

8,490

66,378

74,868

Disposals

-

(66,440

)

(66,440

)

At 30 April 2023

347,644

819,717

1,167,361

DEPRECIATION

At 1 May 2022

266,037

692,624

958,661

Charge for year

21,475

41,520

62,995

Eliminated on disposal

-

(63,432

)

(63,432

)

At 30 April 2023

287,512

670,712

958,224

NET BOOK VALUE

At 30 April 2023

60,132

149,005

209,137

At 30 April 2022

73,117

127,155

200,272

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

2023

2022

£

£

Plant and machinery

11,813

15,188

Motor vehicles

53,656

39,875

65,469

55,063

Depreciation for the year charged on these assets was £18,094 (2022: £7,000).

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2022

and 30 April 2023

100

NET BOOK VALUE

At 30 April 2023

100

At 30 April 2022

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,158,704

1,093,793

Amounts owed by group undertakings

840

-

Other debtors

244,792

249,012

1,404,336

1,342,805

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

32,940

17,252

Trade creditors

467,205

439,897

Taxation and social security

374,179

286,765

Other creditors

301,317

605,563

1,175,641

1,349,477

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

-

31,250

Hire purchase contracts (see note 9)

17,222

30,818

17,222

62,068

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

32,940

17,252

Between one and five years

17,222

30,818

50,162

48,070

Non-cancellable

operating leases

2023

2022

£

£

Within one year

375,205

353,349

Between one and five years

1,636,712

23,898

2,011,917

377,247

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Frederick R. Miller Limited for the year ended 30 April 2023 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Frederick R. Miller 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 Frederick R. Miller Limited and state those matters that we have agreed to state to the Board of Directors of Frederick R. Miller 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.

It is your duty to ensure that Frederick R. Miller 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 profit of Frederick R. Miller Limited. You consider that Frederick R. Miller Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Frederick R. Miller 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.

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

8 November 2023