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REGISTERED NUMBER: 04199082 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

MILFORD PROPERTY MANAGEMENT LIMITED

MILFORD PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04199082)






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 PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: J J P Griffin
Mrs S Griffin
S Griffin





REGISTERED OFFICE: 83 Cambridge Street
Pimlico
London
SW1V 4PS





REGISTERED NUMBER: 04199082 (England and Wales)





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

MILFORD PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04199082)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,155,000 7,155,000

CURRENT ASSETS
Debtors 5 750 900
Cash at bank 799,210 710,539
799,960 711,439
CREDITORS
Amounts falling due within one year 6 2,045,235 2,064,938
NET CURRENT LIABILITIES (1,245,275 ) (1,353,499 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,909,725

5,801,501

CREDITORS
Amounts falling due after more than one
year

7

(823,160

)

(823,160

)

PROVISIONS FOR LIABILITIES 8 (619,727 ) (619,727 )
NET ASSETS 4,466,838 4,358,614

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,466,837 4,358,613
SHAREHOLDERS' FUNDS 4,466,838 4,358,614

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 directors acknowledge their 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 PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04199082)

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd March 2024 and were signed on its behalf by:





J J P Griffin - Director


MILFORD PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04199082)

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

1. STATUTORY INFORMATION

Milford Property Management Limited 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.

The financial statements have been prepared on a going concern basis. The company has obtained undertaking from it parent company that he will continue to support the company for the foreseeable future and meet all third party liabilities as they fall due. Given this undertaking, the director considers it appropriate to adopt a going concern basis in preparing the 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
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.

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 Profit & Loss Account, 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 PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04199082)

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1st July 2022
and 30th June 2023 7,155,000
NET BOOK VALUE
At 30th June 2023 7,155,000
At 30th June 2022 7,155,000

The investment properties were valued by the directors at market value at 30th June 2023
.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 750 900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,557 3,627
Tax 39,644 26,758
Social security and other taxes 702 1,902
Other creditors 39,959 38,942
Amount due to associated
company 1,946,495 1,945,630
Directors' current accounts 16,878 48,079
2,045,235 2,064,938

MILFORD PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04199082)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Due to parent company 823,160 823,160

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 619,727 619,727

Deferred
tax
£   
Balance at 1st July 2022 619,727
Balance at 30th June 2023 619,727

9. RELATED PARTY DISCLOSURES

At the balance sheet the following related party transactions existed:

Amount due to Milford Securities Limited (parent company) was £823,160 (2022: £823,160)
Amount due to Doon Developments Limited,associated company, was £1,946,495 (2022:£1,945,630)

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its director J J P Griffin by virtue of his 100% shareholding in Milford Securities Limited.