MILESTAR LIMITED

Company Registration Number:
01687479 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

MILESTAR LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Notes

MILESTAR LIMITED

Balance sheet

As at 31 August 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 73,899 96,953
Total fixed assets: 73,899 96,953
Current assets
Stocks: 263,000 213,000
Debtors: 4 1,200,017 1,136,801
Cash at bank and in hand: 1,320,095 1,358,472
Total current assets: 2,783,112 2,708,273
Creditors: amounts falling due within one year:   (2,125,370) (2,002,264)
Net current assets (liabilities): 657,742 706,009
Total assets less current liabilities: 731,641 802,962
Provision for liabilities:   (3,204)
Total net assets (liabilities): 731,641 799,758
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 731,541 799,658
Shareholders funds: 731,641 799,758

The notes form part of these financial statements

MILESTAR LIMITED

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2024
and signed on behalf of the board by:

Name: H Gandesha
Status: Director

The notes form part of these financial statements

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

2. Employees

2023 2022
Average number of employees during the period 14 18

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Tangible Assets

Total
Cost £
At 01 September 2022 434,652
At 31 August 2023 434,652
Depreciation
At 01 September 2022 337,699
Charge for year 8,308
Other adjustments 14,746
At 31 August 2023 360,753
Net book value
At 31 August 2023 73,899
At 31 August 2022 96,953

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 1,200,017 1,136,801

MILESTAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Related party transactions

Name of the related party: SM and NM Gandesha Partnership
Relationship:
Directors of Company
Description of the Transaction: SM and NM Gandesha Partnership are noted in the Debtors as at the balance sheet date. This debt or its extent may be disputed by SM and NM Gandesha Partnership.
£
Balance at 01 September 2022 494,104
Balance at 31 August 2023 494,104
Name of the related party: Narendra Gandesha
Relationship:
Directors of Company
Description of the Transaction: As at the year end, Narendra Gandesha held £102,925.39 of cash due to the business.
£
Balance at 01 September 2022 102,925
Balance at 31 August 2023 102,925