Registered number
08971417
Mile 91 Ltd
Filleted Accounts
30 April 2024
Mile 91 Ltd
Registered number: 08971417
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,644 7,282
Current assets
Debtors 4 26,011 13,514
Cash at bank and in hand 9,242 17,772
35,253 31,286
Creditors: amounts falling due within one year 5 (40,570) (30,873)
Net current (liabilities)/assets (5,317) 413
Total assets less current liabilities 1,327 7,695
Creditors: amounts falling due after more than one year 6 - (4,193)
Provisions for liabilities (1,263) (1,383)
Net assets 64 2,119
Capital and reserves
Called up share capital 2 2
Profit and loss account 62 2,117
Shareholders' funds 64 2,119
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 members have 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.
Ms Catherine Raynor
Director
Approved by the board on 27 August 2024
Mile 91 Ltd
Notes to the Accounts
for the year ended 30 April 2024
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:
Plant and machinery 20% straight line
Computer equipment 33% straight line
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 recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Computer equipment Total
£ £ £
Cost
At 1 May 2023 17,568 9,249 26,817
Additions 316 1,790 2,106
At 30 April 2024 17,884 11,039 28,923
Depreciation
At 1 May 2023 10,451 9,084 19,535
Charge for the year 1,982 762 2,744
At 30 April 2024 12,433 9,846 22,279
Net book value
At 30 April 2024 5,451 1,193 6,644
At 30 April 2023 7,117 165 7,282
4 Debtors 2024 2023
£ £
Trade debtors 9,662 420
Directors' loan account 15,614 13,064
Other debtors 735 30
26,011 13,514
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,193 5,031
Trade creditors 620 578
Taxation and social security costs 31,017 25,249
Other creditors 4,740 15
40,570 30,873
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 4,193
7 Related party transactions
The company paid £1,426 (2023: £1,426) in rent to each of the directors for the use of their home offices.
8 Other information
Mile 91 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14c High View Road
London
SE19 3SS
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