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REGISTERED NUMBER: 05048707 (England and Wales)















Milf Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Milf Limited (Registered number: 05048707)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Milf Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M J Baker
L C Baker





SECRETARY: M J Baker





REGISTERED OFFICE: Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR





REGISTERED NUMBER: 05048707 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Milf Limited (Registered number: 05048707)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,125 7,970
Tangible assets 5 4,217 4,961
Investments 6 40,000 40,000
49,342 52,931

CURRENT ASSETS
Debtors 7 31,539 31,539
Cash at bank - 1,643
31,539 33,182
CREDITORS
Amounts falling due within one year 8 74,790 73,934
NET CURRENT LIABILITIES (43,251 ) (40,752 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,091 12,179

CREDITORS
Amounts falling due after more than one year 9 (9,250 ) (9,311 )

PROVISIONS FOR LIABILITIES (801 ) (943 )
NET (LIABILITIES)/ASSETS (3,960 ) 1,925

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,060 ) 1,825
SHAREHOLDERS' FUNDS (3,960 ) 1,925

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

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

Milf Limited (Registered number: 05048707)

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





M J Baker - Director


Milf Limited (Registered number: 05048707)

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

1. STATUTORY INFORMATION

Milf 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

This financial statement is prepared based on going concern basis.

Turnover
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 the work performed to date to the total estimated contract costs.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Basic financial instruments
A final asset held as an equity instrument is recognised initially at the transactional price (including transaction costs).

At the end of each reporting period, unlisted equity instruments are recorded at fair value, where appropriate, or at cost less impairment if their value cannot be reliably measured. Objective evidence of the impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.

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.


Milf Limited (Registered number: 05048707)

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

2. ACCOUNTING POLICIES - continued
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.

Going concern
The company's results show that at the year end there were net current liabilities and net current assets. The Directors believe that there are sufficient funds in place to meet the on going needs of the business which will ensure that it is a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 March 2023 7,970
Revaluations (2,845 )
At 29 February 2024 5,125
NET BOOK VALUE
At 29 February 2024 5,125
At 28 February 2023 7,970

Cost or valuation at 29 February 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2022 (5,788 )
Valuation in 2023 (5,242 )
Valuation in 2024 (2,845 )
Cost 19,000
5,125

Milf Limited (Registered number: 05048707)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 2,578 18,500 21,078
DEPRECIATION
At 1 March 2023 1,902 14,215 16,117
Charge for year 101 643 744
At 29 February 2024 2,003 14,858 16,861
NET BOOK VALUE
At 29 February 2024 575 3,642 4,217
At 28 February 2023 676 4,285 4,961

6. INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 67,038
PROVISIONS
At 1 March 2023
and 29 February 2024 27,038
NET BOOK VALUE
At 29 February 2024 40,000
At 28 February 2023 40,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 31,539 31,539

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 3,453 3,236
Taxation and social security 2,743 2,502
Other creditors 68,594 68,196
74,790 73,934

Milf Limited (Registered number: 05048707)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 9,250 9,311