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REGISTERED NUMBER: 01664669 (England and Wales)
















Unaudited Financial Statements for the Year Ended 29th February 2024

for

MILANSPAR LIMITED

MILANSPAR LIMITED (REGISTERED NUMBER: 01664669)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILANSPAR LIMITED

Company Information
for the Year Ended 29th February 2024







DIRECTORS: Mrs B H McMichael
M G Bridle
P W McMichael





SECRETARY: Mrs B H McMichael





REGISTERED OFFICE: 38 Salisbury Road
Worthing
West Sussex
BN11 1RD





REGISTERED NUMBER: 01664669 (England and Wales)





ACCOUNTANTS: MastersFuller
Chartered Certified Accountants
38 Salisbury Road
Worthing
West Sussex
BN11 1RD

MILANSPAR LIMITED (REGISTERED NUMBER: 01664669)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13 13
Investment property 5 1,755,000 1,755,000
1,755,013 1,755,013

CURRENT ASSETS
Debtors 6 - 800
Investments 7 261,706 242,793
Cash at bank 213,552 207,279
475,258 450,872
CREDITORS
Amounts falling due within one year 8 23,392 30,069
NET CURRENT ASSETS 451,866 420,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,206,879

2,175,816

PROVISIONS FOR LIABILITIES 65,592 65,592
NET ASSETS 2,141,287 2,110,224

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 9 279,634 279,634
Retained earnings 1,861,643 1,830,580
SHAREHOLDERS' FUNDS 2,141,287 2,110,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

MILANSPAR LIMITED (REGISTERED NUMBER: 01664669)

Balance Sheet - continued
29th February 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 28th November 2024 and were signed on its behalf by:





M G Bridle - Director


MILANSPAR LIMITED (REGISTERED NUMBER: 01664669)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Milanspar 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable from operating leases, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Fair Value Reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1st March 2023
and 29th February 2024 21,328
DEPRECIATION
At 1st March 2023
and 29th February 2024 21,315
NET BOOK VALUE
At 29th February 2024 13
At 28th February 2023 13

MILANSPAR LIMITED (REGISTERED NUMBER: 01664669)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023
and 29th February 2024 1,755,000
NET BOOK VALUE
At 29th February 2024 1,755,000
At 28th February 2023 1,755,000

Fair value at 29th February 2024 is represented by:
£   
Valuation in 2015 75,436
Valuation in 2016 49,000
Valuation in 2017 (7,000 )
Valuation in 2018 34,790
Valuation in 2022 193,000
Cost 1,409,774
1,755,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,409,774 1,409,774

The investment properties were valued on an open market basis on 28th February 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 800

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 261,706 242,793

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,876 1,903
Other creditors 20,516 28,166
23,392 30,069

MILANSPAR LIMITED (REGISTERED NUMBER: 01664669)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

9. RESERVES
Fair
value
reserve
£   
At 1st March 2023
and 29th February 2024 279,634