MILESTAR LIMITED

Company Registration Number:
01687479 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2021

Period of accounts

Start date: 01 September 2020

End date: 31 August 2021

MILESTAR LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2021

Balance sheet
Notes

MILESTAR LIMITED

Balance sheet

As at 31 August 2021


Notes

2021

2020


£

£
Fixed assets
Tangible assets: 3 105,782 114,374
Total fixed assets: 105,782 114,374
Current assets
Stocks: 448,000 398,000
Debtors: 4 1,541,129 1,210,585
Cash at bank and in hand: 1,329,112 1,295,782
Total current assets: 3,318,241 2,904,367
Creditors: amounts falling due within one year:   (2,160,655) (2,026,644)
Net current assets (liabilities): 1,157,586 877,723
Total assets less current liabilities: 1,263,368 992,097
Provision for liabilities: (3,746) (4,378)
Total net assets (liabilities): 1,259,622 987,719
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,259,522 987,619
Shareholders funds: 1,259,622 987,719

The notes form part of these financial statements

MILESTAR LIMITED

Balance sheet statements

For the year ending 31 August 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 November 2023
and signed on behalf of the board by:

Name: H Gandesha
Status: Director

The notes form part of these financial statements

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2021

2. Employees

2021 2020
Average number of employees during the period 17 16

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2021

3. Tangible Assets

Total
Cost £
At 01 September 2020 433,802
Additions 850
At 31 August 2021 434,652
Depreciation
At 01 September 2020 319,428
Charge for year 9,442
At 31 August 2021 328,870
Net book value
At 31 August 2021 105,782
At 31 August 2020 114,374

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 1,541,129 1,210,585

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2021

5. Related party transactions

Name of the related party: SM and NM Gandesha Partnership
Relationship:
Directors of Company
Description of the Transaction: SM and NM Gandesha Partnership are noted in the Debtors as at the balance sheet date. This debt or its extent may bedisputed by SM and NM Gandesha Partnership.
£
Balance at 01 September 2020 494,104
Balance at 31 August 2021 494,104
Name of the related party: Perfume-UK Limited
Relationship:
Close family members
Description of the Transaction: A company controlled by close family members of H Gandesha.As at the balance sheet date the company owed £286,193 (2020 : £286,193) to Perfume-UK Limited.
£
Balance at 01 September 2020 286,193
Balance at 31 August 2021 286,193
Name of the related party: Narendra Gandesha
Relationship:
Director of Company
Description of the Transaction: As at the year end, Narendra Gandesha held £102,925.39 of cash due to the business.
£
Balance at 01 September 2020 102,925
Balance at 31 August 2021 102,925