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REGISTERED NUMBER: 03245967 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Milew Limited

Milew Limited (Registered number: 03245967)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Milew Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: Mr M E Ellis





SECRETARY: Mrs S Ellis





REGISTERED OFFICE: 24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ





REGISTERED NUMBER: 03245967 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Milew Limited (Registered number: 03245967)

Balance Sheet
31 December 2021

31.12.21 31.12.20
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,519 14,374

CURRENT ASSETS
Stocks 8,000 5,000
Debtors 5 69,022 112,973
77,022 117,973
CREDITORS
Amounts falling due within one year 6 207,361 210,697
NET CURRENT LIABILITIES (130,339 ) (92,724 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(122,820

)

(78,350

)

CREDITORS
Amounts falling due after more than one
year

7

(35,292

)

(26,214

)

PROVISIONS FOR LIABILITIES - (2,731 )
NET LIABILITIES (158,112 ) (107,295 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (158,212 ) (107,395 )
SHAREHOLDERS' FUNDS (158,112 ) (107,295 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Milew Limited (Registered number: 03245967)

Balance Sheet - continued
31 December 2021


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 director and authorised for issue on 2 September 2022 and were signed by:





Mr M E Ellis - Director


Milew Limited (Registered number: 03245967)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Milew 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 presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.

Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements.

Turnover
This represents net amounts invoiced in respect of work done in the period after adjusting for work in progress where appropriate.

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 - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Milew Limited (Registered number: 03245967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Going concern
The company has net liabilities of £158,112 (2020: £107,295). The company is reliant on the continued support of its creditors and lenders. The management believe that it is appropriate to rely on this assertion for a period of not less than twelve months from the date the financial statements were approved. On this basis the directors believe it is appropriate to prepare the accounts on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 5,594 8,784 31,827 3,835 50,040
Disposals - - (12,848 ) (1,081 ) (13,929 )
At 31 December 2021 5,594 8,784 18,979 2,754 36,111
DEPRECIATION
At 1 January 2021 5,119 7,425 19,484 3,638 35,666
Charge for year 48 204 1,452 65 1,769
Eliminated on disposal - - (7,761 ) (1,082 ) (8,843 )
At 31 December 2021 5,167 7,629 13,175 2,621 28,592
NET BOOK VALUE
At 31 December 2021 427 1,155 5,804 133 7,519
At 31 December 2020 475 1,359 12,343 197 14,374

Milew Limited (Registered number: 03245967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
as restated
£    £   
Trade debtors 62,206 91,879
Other debtors 6,816 21,094
69,022 112,973

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
as restated
£    £   
Bank loans and overdrafts 23,290 23,576
Trade creditors 77,985 65,604
Amounts owed to group undertakings 35,049 66,521
Taxation and social security 5,600 3,228
Other creditors 65,437 51,768
207,361 210,697

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
as restated
£    £   
Bank loans 21,542 26,214
Other creditors 13,750 -
35,292 26,214

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,119

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: as restated
£    £   
100 Ordinary £1 100 100

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Milew Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Milew Limited for the year ended 31 December 2021 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Milew Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Milew Limited and state those matters that we have agreed to state to the director of Milew Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Milew Limited and its director for our work or for this report.

It is your duty to ensure that Milew 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 Milew Limited. You consider that Milew 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 Milew 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.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


2 September 2022