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REGISTERED NUMBER: 04904237 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MILLIMAN CONSULTING LIMITED

MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MILLIMAN CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: U R Starigk
D Corry



SECRETARY: U R Starigk



REGISTERED OFFICE: 11 Old Jewry
London
EC2R 8DU



REGISTERED NUMBER: 04904237 (England and Wales)



AUDITORS: Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE



BANKERS: Bank of America
2 King Edward Street
London
EC1A 1HQ

MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,126
Investments 5 6,667 6,667
6,667 11,793

CURRENT ASSETS
Debtors 6 1,054,415 1,238,235
Cash at bank 10,195 16,081
1,064,610 1,254,316
CREDITORS
Amounts falling due within one year 7 348,103 388,875
NET CURRENT ASSETS 716,507 865,441
TOTAL ASSETS LESS CURRENT
LIABILITIES

723,174

877,234

CAPITAL AND RESERVES
Called up share capital 8 800,015 800,015
Retained earnings 9 (76,841 ) 77,219
SHAREHOLDERS' FUNDS 723,174 877,234

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 Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





U R Starigk - Director


MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Milliman Consulting 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Milliman Consulting Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Milliman Inc, 1301 Fifth Avenue, Suite 3800, Seattle, Washington, 98101-2646, United States.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover represents net consultancy fees and expenses earned, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 102,527
AMORTISATION
At 1 January 2023 97,401
Amortisation for year 5,126
At 31 December 2023 102,527
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 5,126

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 6,667
NET BOOK VALUE
At 31 December 2023 6,667
At 31 December 2022 6,667

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Milliman SRL
Registered office: Via San Clemente 1, Milan, 20122, Italy
Nature of business: Actuarial services and consultancy
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 5,523,191 5,012,813
Profit for the year 667,553 1,723,099

MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 631,554 314,611
Amounts owed by group undertakings 420,147 740,704
Amounts recoverable on contract - 182,920
Other debtors 2,714 -
1,054,415 1,238,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 39,024 35,940
Amounts owed to group undertakings 223,532 312,673
Corporation tax 43,000 -
Social security and other taxes 2,921 24,946
Other creditors 6,667 6,667
Accruals and deferred income 32,959 8,649
348,103 388,875

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
800,015 Ordinary £1 800,015 800,015

9. RESERVES
Retained
earnings
£   

At 1 January 2023 77,219
Deficit for the year (154,060 )
At 31 December 2023 (76,841 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony R Cooke FCA (Senior Statutory Auditor)
for and on behalf of Carter & Coley Limited

MILLIMAN CONSULTING LIMITED (REGISTERED NUMBER: 04904237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. ULTIMATE PARENT

The controlling party is Milliman Inc, 1301 5th Avenue,Suite 3800, Seattle, USA.