Registered number
06574576
Milma Foods UK Limited
Filleted Accounts
31 December 2023
Milma Foods UK Limited
Registered number: 06574576
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,082 20,788
Current assets
Stocks 23,900 27,600
Debtors 4 31,354 24,796
Cash at bank and in hand 12,121 8,462
67,375 60,858
Creditors: amounts falling due within one year 5 (77,026) (56,997)
Net current (liabilities)/assets (9,651) 3,861
Total assets less current liabilities 18,431 24,649
Creditors: amounts falling due after more than one year 6 (27,500) (32,000)
Net liabilities (9,069) (7,351)
Capital and reserves
Called up share capital 30 30
Profit and loss account (9,099) (7,381)
Shareholder's funds (9,069) (7,351)
The directors are 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 directors acknowledge their 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.
I.A.R.Zaffarullah
Director
Approved by the board on 1 September 2024
Milma Foods UK Limited
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Now fully amortised
Delivery van 15% reducing balance
Plant and machinery 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is not recognised in the accounts
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 5,000 16,155 27,610 48,765
Additions - - 12,250 12,250
At 31 December 2023 5,000 16,155 39,860 61,015
Depreciation
At 1 January 2023 5,000 10,862 12,115 27,977
Charge for the year - 794 4,162 4,956
At 31 December 2023 5,000 11,656 16,277 32,933
Net book value
At 31 December 2023 - 4,499 23,583 28,082
At 31 December 2022 - 5,293 15,495 20,788
4 Debtors 2023 2022
£ £
Trade debtors 20,104 13,546
Other debtors 11,250 11,250
31,354 24,796
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,500 4,483
Obligations under finance lease and hire purchase contracts - 3,083
Trade creditors 17,000 7,995
Taxation and social security costs 7,668 2,949
Directors' account 2,350 (2,651)
Other creditors 376 -
Accruals 45,132 41,138
77,026 56,997
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,500 32,000
7 Related party transactions
At the reporting date the company owes £2,350 (2022 - £2,651 by) to the Director I.A.R.Zaffarullah. This is interest free and repayable on demand.
8 Controlling party
The company is cotrolled by I.A.R.Zaffarullah.
9 Other information
Milma Foods UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
346 High Street North
London
E12 6PH
Milma Foods UK Limited 06574576 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 I.A.R.Zaffarullah No description of principal activity 06574576 2022-01-01 2022-12-31 06574576 core:WithinOneYear 2022-12-31 06574576 core:AfterOneYear 2022-12-31 06574576 core:ShareCapital 2022-12-31 06574576 core:RetainedEarningsAccumulatedLosses 2022-12-31 06574576 2023-01-01 2023-12-31 06574576 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06574576 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06574576 bus:Director40 2023-01-01 2023-12-31 06574576 1 2023-01-01 2023-12-31 06574576 2 2023-01-01 2023-12-31 06574576 core:LandBuildings 2023-01-01 2023-12-31 06574576 core:PlantMachinery 2023-01-01 2023-12-31 06574576 core:Vehicles 2023-01-01 2023-12-31 06574576 countries:England 2023-01-01 2023-12-31 06574576 bus:FRS102 2023-01-01 2023-12-31 06574576 bus:FilletedAccounts 2023-01-01 2023-12-31 06574576 2023-12-31 06574576 core:WithinOneYear 2023-12-31 06574576 core:AfterOneYear 2023-12-31 06574576 core:ShareCapital 2023-12-31 06574576 core:RetainedEarningsAccumulatedLosses 2023-12-31 06574576 core:LandBuildings 2023-12-31 06574576 core:PlantMachinery 2023-12-31 06574576 core:Vehicles 2023-12-31 06574576 2022-12-31 06574576 core:LandBuildings 2022-12-31 06574576 core:PlantMachinery 2022-12-31 06574576 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure