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Company registration number: 12994008
Milky Mamma's Ltd
Unaudited filleted financial statements
31 May 2023
Milky Mamma's Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Milky Mamma's Ltd
Statement of financial position
31 May 2023
31/05/23 30/11/21
Note £ £ £ £
Current assets
Stocks - 500
Debtors 5 1,044 -
Cash at bank and in hand 283 922
_______ _______
1,327 1,422
Creditors: amounts falling due
within one year 6 ( 1,307) ( 968)
_______ _______
Net current assets 20 454
_______ _______
Total assets less current liabilities 20 454
_______ _______
Net assets 20 454
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 19 453
_______ _______
Shareholders funds 20 454
_______ _______
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Mrs J Hill
Director
Company registration number: 12994008
Milky Mamma's Ltd
Statement of changes in equity
Period ended 31 May 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2020 - - -
Profit for the period 453 453
_______ _______ _______
Total comprehensive income for the period - 453 453
Issue of shares 1 1
_______ _______ _______
Total investments by and distributions to owners 1 - 1
_______ _______ _______
At 30 November 2021 and 1 November 2021 1 453 454
Profit for the period 966 966
_______ _______ _______
Total comprehensive income for the period - 966 966
Dividends paid and payable ( 1,400) ( 1,400)
_______ _______ _______
Total investments by and distributions to owners - ( 1,400) ( 1,400)
_______ _______ _______
At 31 May 2023 1 19 20
_______ _______ _______
Milky Mamma's Ltd
Notes to the financial statements
Period ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 21 Ruskin Crescent, Guiseley, Leeds, LS20 9BG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2021: 1 ).
5. Debtors
31/05/23 30/11/21
£ £
Other debtors 1,044 -
_______ _______
6. Creditors: amounts falling due within one year
31/05/23 30/11/21
£ £
Corporation tax 227 106
Other creditors 1,080 862
_______ _______
1,307 968
_______ _______