Registered number
13368138
Milestone Advisory Ltd
Report and Accounts
31 March 2022
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Milestone Advisory Ltd
Registered number: 13368138
Balance Sheet
as at 31 March 2022
Notes 2022
£
Fixed assets
Tangible assets 3 4,906
Current assets
Debtors 4 108,754
Cash at bank and in hand 90,292
199,046
Creditors: amounts falling due within one year 5 (199,834)
Net current liabilities (788)
Total assets less current liabilities 4,118
Provisions for liabilities (932)
Net assets 3,186
Capital and reserves
Called up share capital 4
Profit and loss account 3,182
Shareholders' funds 3,186
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miles Wanstall Welch
Director
Approved by the board on 18 July 2022
Milestone Advisory Ltd
Notes to the Accounts
for the period from 30 April 2021 to 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 6,132
At 31 March 2022 6,132
Depreciation
Charge for the period 1,226
At 31 March 2022 1,226
Net book value
At 31 March 2022 4,906
4 Debtors 2022
£
Trade debtors 108,186
Other debtors 568
108,754
5 Creditors: amounts falling due within one year 2022
£
Trade creditors 4,511
Amounts owed to group undertakings and undertakings in which the company has a participating interest 128,330
Corporation tax 46,576
Other taxes and social security costs 4,776
Other creditors 15,641
199,834
6 Related party transactions
There are no related party transactions.
7 Controlling party
The ultimate holding company is Boddledale Holdings Limited, a company incorporated in the UK and under the control of the director and family.
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