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REGISTERED NUMBER: 03141537 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

MILFORD SECURITIES LTD.

MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILFORD SECURITIES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: J J P Griffin





REGISTERED OFFICE: 83 Cambridge Street
London
SW1V 4PS





REGISTERED NUMBER: 03141537 (England and Wales)





ACCOUNTANTS: George Hay & Company
Chartered Accountants
83 Cambridge Street
London
SW1V 4PS

MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,750,469 2,750,625
Investments 5 808,001 808,001
3,558,470 3,558,626

CURRENT ASSETS
Debtors 6 841,626 1,714,084
Cash at bank 211,715 155,273
1,053,341 1,869,357
CREDITORS
Amounts falling due within one year 7 303,718 1,189,342
NET CURRENT ASSETS 749,623 680,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,308,093

4,238,641

PROVISIONS FOR LIABILITIES 8 386,850 386,850
NET ASSETS 3,921,243 3,851,791

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 808,000 808,000
Retained earnings 3,113,242 3,043,790
SHAREHOLDERS' FUNDS 3,921,243 3,851,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 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.

MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)

BALANCE SHEET - continued
30TH JUNE 2023


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 23rd March 2024 and were signed by:





J J P Griffin - Director


MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Milford Securities Ltd. 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.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Milford Securities Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400/401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rent receivable, all attributable to the principal activity of the company and arises within the United Kingdom.

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 - 25% reducing balance

Freehold property is comprised of investment property.

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in the profit and loss account. The investment property is valued by the directors on an existing use open market value basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and 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 profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 and 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.


MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

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.

Fixed asset investments
Fixed assets investments are stated at cost less any provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1st July 2022
and 30th June 2023 2,750,000 8,332 2,758,332
DEPRECIATION
At 1st July 2022 - 7,707 7,707
Charge for year - 156 156
At 30th June 2023 - 7,863 7,863
NET BOOK VALUE
At 30th June 2023 2,750,000 469 2,750,469
At 30th June 2022 2,750,000 625 2,750,625

The investment properties were valued by the directors at market value at the 30th June 2022
.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st July 2022
and 30th June 2023 808,001
NET BOOK VALUE
At 30th June 2023 808,001
At 30th June 2022 808,001

MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 7,000 -
Amount due from associated
company - 890,924
Tax 11,466 -
18,466 890,924

Amounts falling due after more than one year:
Subsidiary company Milford Property
Management Limited

823,160

823,160

Aggregate amounts 841,626 1,714,084

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1 2,972
Tax 18,948 15,524
Other creditors 34,383 33,536
Amount due to subsidiary company - 581,649
Directors' current accounts 250,386 555,661
303,718 1,189,342

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 386,850 386,850

Deferred
tax
£   
Balance at 1st July 2022 386,850
Balance at 30th June 2023 386,850

MILFORD SECURITIES LTD. (REGISTERED NUMBER: 03141537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

9. RELATED PARTY DISCLOSURES

Related party transaction included in debtors is as follows:

Milford Securities Limited owns the entire share capital of Milford Property Management Limited. At 30th June 2023 Milford Property Management Limited owed £823,160 (2022: £823,160) to its parent company. No trading took place between the companies during the year.

Related party transactions included in creditors are as follows:

Milford Securities Limited own the entire share capital of Doon Developments Limited. At 30th June 2023 Doon Developments Limited was owed £nil (2022: £581,649) by its parent company. No trading took place between the companies during the year.

T9 Developments Limited, a company in which JJP Griffin is a director, owed Milford Securities Limited £nil at 30th June 2023 (2022: £890,924).

During the year dividends were paid to JJP Griffin of £2,000 (2022: £2,000)

At 30th June 2023 £250,386 (2022: £555,661) was due to the director, JJP Griffin.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its director JJP Griffin.