Registered number
11734129
MILA INTERNATIONAL TRADING LTD
Filleted Accounts
31 December 2023
MILA INTERNATIONAL TRADING LTD
Registered number: 11734129
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,024 1,249
Current assets
Debtors 4 100,477 43,681
Cash at bank and in hand 840 63,869
101,317 107,550
Creditors: amounts falling due within one year 5 (102,000) (105,741)
Net current (liabilities)/assets (683) 1,809
Net assets 341 3,058
Capital and reserves
Called up share capital 100 100
Profit and loss account 241 2,958
Shareholder's funds 341 3,058
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Emir Kurt KUMBARACI
Director
Approved by the board on 3 April 2024
MILA INTERNATIONAL TRADING LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, excluding in the year of acquisition, at rates calculated to write off the cost, less estimated residual value @18% per annum (reducing balance method).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Equipment
£
Cost
At 1 January 2023 1,858
At 31 December 2023 1,858
Depreciation
At 1 January 2023 609
Charge for the year 225
At 31 December 2023 834
Net book value
At 31 December 2023 1,024
At 31 December 2022 1,249
4 Debtors 2023 2022
£ £
Trade debtors 9,625 3,726
Prepayments & other debtors 90,852 39,955
100,477 43,681
5 Creditors: amounts falling due within one year 2023 2022
£ £
Overdrafts 23 -
Trade creditors 10,766 4,897
Taxation and social security costs 12,635 4,865
Other creditors 78,576 95,979
102,000 105,741
6 Other information
MILA INTERNATIONAL TRADING LTD is a private company limited by shares and incorporated in England. Its registered office is:
C/o- Unit 4 , Kinetica
13 Ramsgate Street
London
E8 2FD
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