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REGISTERED NUMBER: 10482870 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Milner Properties Ltd

Milner Properties Ltd (Registered number: 10482870)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Milner Properties Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A J Milner
Mrs H J Milner





REGISTERED OFFICE: Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD





REGISTERED NUMBER: 10482870 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Milner Properties Ltd (Registered number: 10482870)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,796,906 1,670,082

CURRENT ASSETS
Cash at bank 44,524 12,056

CREDITORS
Amounts falling due within one year 5 (1,652,095 ) (1,433,803 )
NET CURRENT LIABILITIES (1,607,571 ) (1,421,747 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,335

248,335

CREDITORS
Amounts falling due after more than one
year

6

-

(216,276

)

PROVISIONS FOR LIABILITIES 7 (31,706 ) -
NET ASSETS 157,629 32,059

CAPITAL AND RESERVES
Called up share capital 8 200 200
Fair value reserve 9 95,118 -
Retained earnings 62,311 31,859
SHAREHOLDERS' FUNDS 157,629 32,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Milner Properties Ltd (Registered number: 10482870)

Balance Sheet - continued
31 March 2024


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 and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2024 and were signed on its behalf by:





A J Milner - Director


Milner Properties Ltd (Registered number: 10482870)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Milner Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Milner Properties Ltd (Registered number: 10482870)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,670,082
Revaluations 126,824
At 31 March 2024 1,796,906
NET BOOK VALUE
At 31 March 2024 1,796,906
At 31 March 2023 1,670,082

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 126,824
Cost 1,670,082
1,796,906

Investment property was valued on an open market basis on 31 March 2024 by directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 1,038,781 781,174
Taxation and social security 8,428 4,020
Other creditors 604,886 648,609
1,652,095 1,433,803

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 216,276

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 31,706 -

Deferred
tax
£   
Provided during year 31,706
Balance at 31 March 2024 31,706

Milner Properties Ltd (Registered number: 10482870)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
20 Ordinary A £1 20 20
20 Ordinary B £1 20 20
20 Ordinary C £1 20 20
20 Ordinary D £1 20 20
20 Ordinary E £1 20 20
200 200

9. RESERVES
Fair
value
reserve
£   
Transfer 95,118

At 31 March 2024 95,118

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Milner Properties Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Milner Properties Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Milner Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Milner Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Milner Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Milner Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Milner Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Milner Properties Ltd. You consider that Milner Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Milner Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


1 July 2024