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Registration number: 11313867

Milly & Milo Limited

Filleted Financial Statements

for the Year Ended 28 February 2023

 

Milly & Milo Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Milly & Milo Limited

Company Information

Directors

G S Lewis

Mr S M Pritchard

Company secretary

Mr P A Penketh

Registered office

Enterprise House
Tir Llwyd Enterprise Park
Kinmel Bay
Rhyl
LL18 5JZ

Auditors

Aston Hughes Limited
Selby Towers
29 Princes Drive
Colwyn Bay
Conwy
LL29 8PE

 

Milly & Milo Limited

(Registration number: 11313867)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

511

573

Current assets

 

Debtors

5

100

2,601

Cash at bank and in hand

 

2,073

447

 

2,173

3,048

Creditors: Amounts falling due within one year

6

(4,423)

(11,113)

Net current liabilities

 

(2,250)

(8,065)

Net liabilities

 

(1,739)

(7,492)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(1,839)

(7,592)

Shareholders' deficit

 

(1,739)

(7,492)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

.........................................
Mr S M Pritchard
Director

 

Milly & Milo Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Enterprise House
Tir Llwyd Enterprise Park
Kinmel Bay
Rhyl
LL18 5JZ

These financial statements were authorised for issue by the Board on 7 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 7 November 2023 was Gareth Lowe BSc ACA, who signed for and on behalf of Aston Hughes Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Milly & Milo Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Brand Names

10% Straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Milly & Milo Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

4

Intangible assets

Trademarks, patents and licenses
 £

Other intangible assets
 £

Total
£

Cost or valuation

Additions internally developed

-

620

620

At 28 February 2023

-

620

620

Amortisation

At 1 March 2022

47

-

47

Amortisation charge

62

-

62

At 28 February 2023

109

-

109

Carrying amount

At 28 February 2023

(109)

620

511

At 28 February 2022

(47)

620

573

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

677

Other debtors

100

1,924

 

100

2,601

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

798

8,087

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,042

1,026

Taxation and social security

 

583

-

Accruals and deferred income

 

2,000

2,000

 

4,423

11,113

 

Milly & Milo Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

shares of £1 each

100

100

100

100

         

8

Dividends

9

Parent and ultimate parent undertaking

The company's immediate parent is Snowdon Holdings Limited, incorporated in England & Wales.

 The ultimate parent is Snowdon Holdings Limited, incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is Snowdon Holdings Limited. These financial statements are available upon request from Companies House

 The ultimate controlling party is Mr S Pritchard & Mr P Penketh.