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REGISTERED NUMBER: 03245967 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Milew Limited

Milew Limited (Registered number: 03245967)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Milew Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr M E Ellis





SECRETARY: Mrs S Ellis





REGISTERED OFFICE: 24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ





REGISTERED NUMBER: 03245967 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Milew Limited (Registered number: 03245967)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,896 6,078

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 5 77,666 55,639
Cash at bank 5,641 -
91,307 63,639
CREDITORS
Amounts falling due within one year 6 253,930 211,965
NET CURRENT LIABILITIES (162,623 ) (148,326 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(157,727

)

(142,248

)

CREDITORS
Amounts falling due after more than one
year

7

18,135

20,512
NET LIABILITIES (175,862 ) (162,760 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (175,962 ) (162,860 )
SHAREHOLDERS' FUNDS (175,862 ) (162,760 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Milew Limited (Registered number: 03245967)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





Mr M E Ellis - Director


Milew Limited (Registered number: 03245967)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Milew 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.

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


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.

Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements.

Turnover
This represents net amounts invoiced in respect of work done in the period after adjusting for work in progress where appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Milew Limited (Registered number: 03245967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The company has net liabilities of £175,862 (2022: £162,760). The company is reliant on the continued support of its creditors and lenders. The management believe that it is appropriate to rely on this assertion for a period of not less than twelve months from the date the financial statements were approved. On this basis the director believes it is appropriate to prepare the accounts on the going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 5,594 8,784 18,979 2,754 36,111
DEPRECIATION
At 1 January 2023 5,209 7,802 14,336 2,686 30,033
Charge for year 39 148 929 66 1,182
At 31 December 2023 5,248 7,950 15,265 2,752 31,215
NET BOOK VALUE
At 31 December 2023 346 834 3,714 2 4,896
At 31 December 2022 385 982 4,643 68 6,078

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 72,403 48,671
Other debtors 5,263 6,968
77,666 55,639

Milew Limited (Registered number: 03245967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 2,364 22,116
Trade creditors 101,244 96,883
Amounts owed to group undertakings 86,960 33,123
Taxation and social security 11,882 2,470
Other creditors 51,480 57,373
253,930 211,965

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 18,135 20,512

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,463 10,367

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100