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Registered Number: 07138641
England and Wales

 

 

 

MILLIONAIRES CHOICE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Anita Jatania
Registered Number 07138641
Registered Office 5 Connaught Place
London
W2 2ET
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2023.
Principal activities
Principal activity of the company during the financial year was of agents involved in the sale of a variety of goods, web portals, management consultancy activities other than financial management and activities of other membership organisations not elsewhere classified.
Director
The director who served the company throughout the year was as follows:
Anita Jatania
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Anita Jatania
Director

Date approved: 22 September 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 628,451    628,451 
Tangible fixed assets 4 2,181    2,725 
630,632    631,176 
Current assets      
Debtors 5 179    173 
Cash at bank and in hand 1,413    2,446 
1,592    2,619 
Creditors: amount falling due within one year 6   (2,210)
Net current assets 1,592    409 
 
Total assets less current liabilities 632,224    631,585 
Creditors: amount falling due after more than one year 7 (1,290,929)   (1,282,796)
Net assets (658,705)   (651,211)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (658,706)   (651,212)
Shareholders' funds (658,705)   (651,211)
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 22 September 2024 and were signed by:


-------------------------------
Anita Jatania
Director
3
General Information
MILLIONAIRES CHOICE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07138641, registration address 5 Connaught Place, London, W2 2ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 January 2023 628,451    628,451 
Additions  
Disposals  
At 31 December 2023 628,451    628,451 
Net book values
At 31 December 2023 628,451    628,451 
At 31 December 2022 628,451    628,451 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 January 2023 13,000    13,000 
Additions  
Disposals  
At 31 December 2023 13,000    13,000 
Depreciation
At 01 January 2023 10,819    10,819 
Charge for year  
On disposals  
At 31 December 2023 10,819    10,819 
Net book values
Closing balance as at 31 December 2023 2,181    2,181 
Opening balance as at 01 January 2023 2,725    2,725 


5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors 179    173 
179    173 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Other Creditors   2,210 
  2,210 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other Creditors 1,290,929    1,282,796 
1,290,929    1,282,796 

4