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REGISTERED NUMBER: 06799119 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Milestone Industrial Flooring Limited

Milestone Industrial Flooring Limited (Registered number: 06799119)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Milestone Industrial Flooring Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Z C Harrison
P C Harrison





REGISTERED OFFICE: Milestone House
Bondgate
Pontefract
West Yorkshire
WF8 2JJ





REGISTERED NUMBER: 06799119 (England and Wales)





ACCOUNTANTS: Whitesides Chartered Accountants
Lister House
Lister Hill
Horsforth
Leeds
LS18 5AZ

Milestone Industrial Flooring Limited (Registered number: 06799119)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 184,567 186,341
184,567 186,341

CURRENT ASSETS
Stocks 241,903 276,567
Debtors 6 1,593,418 1,656,867
Cash at bank 1,220,114 438,352
3,055,435 2,371,786
CREDITORS
Amounts falling due within one year 7 1,666,281 976,628
NET CURRENT ASSETS 1,389,154 1,395,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,573,721

1,581,499

CREDITORS
Amounts falling due after more than one
year

8

(25,769

)

(49,066

)

PROVISIONS FOR LIABILITIES (26,707 ) (26,500 )
NET ASSETS 1,521,245 1,505,933

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,521,145 1,505,833
1,521,245 1,505,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Milestone Industrial Flooring Limited (Registered number: 06799119)

Balance Sheet - continued
31 January 2024


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 30 April 2024 and were signed on its behalf by:





Z C Harrison - Director


Milestone Industrial Flooring Limited (Registered number: 06799119)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Milestone Industrial Flooring 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.

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

This includes recognition of any retentions as income.

Goodwill
Goodwill was acquired many years ago and is fully amortised.

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.

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 etc - 25% on reducing balance

Tangible assets are recognised at historic cost and depreciated over their useful economic life.

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.

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.

Milestone Industrial Flooring Limited (Registered number: 06799119)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are depreciated in accordance with the company's normal accounting policy. The outstanding liabilities under such agreements, less interest not yet due, is included in creditors. Interest on such agreements is charged to the profit and loss account over the term of each agreement and represents a constant proportion of the balance of capital repayments outstanding.

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 39 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 9,500
AMORTISATION
At 1 February 2023
and 31 January 2024 9,500
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Milestone Industrial Flooring Limited (Registered number: 06799119)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 667,082
Additions 33,938
Disposals (21,250 )
Reclassification/transfer 28,750
At 31 January 2024 708,520
DEPRECIATION
At 1 February 2023 480,741
Charge for year 50,225
Eliminated on disposal (18,169 )
Reclassification/transfer 11,156
At 31 January 2024 523,953
NET BOOK VALUE
At 31 January 2024 184,567
At 31 January 2023 186,341

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,135,163 850,941
Other debtors 458,255 805,926
1,593,418 1,656,867

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,101 -
Hire purchase contracts (see note 9) 33,300 29,889
Trade creditors 606,421 139,507
Taxation and social security 154,371 113,862
Other creditors 866,088 693,370
1,666,281 976,628

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 25,769 49,066

Milestone Industrial Flooring Limited (Registered number: 06799119)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 33,300 29,889
Between one and five years 25,769 49,066
59,069 78,955

Non-cancellable operating leases
2024 2023
£    £   
Within one year 39,798 39,798
Between one and five years 74,398 114,196
114,196 153,994

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
P C Harrison
Balance outstanding at start of year 10,946 -
Amounts advanced 225,390 10,946
Amounts repaid (230,107 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,229 10,946

The loan was interest free and had no fixed terms for repayment.

11. RELATED PARTY DISCLOSURES

During the year the company loaned money from related companies with common directors and under common
control. The loans were interest free and repayable on demand. An amount of £665,068 (2023: £529,443 owing
from) was owing to the related companies and is included in other creditors.