By Milo Limited


FINANCIAL STATEMENTS


for the year ended 31st March 2024



By Milo Limited

CONTENTS

for the year ended 31st March 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

By Milo Limited

Company No. 09337732

STATEMENT OF FINANCIAL POSITION

as at 31st March 2024

20242023
Note£££
FIXED ASSETS
Intangible assets44374443744
Property, plant and equipment519782099
4572245843
CURRENT ASSETS
Stocks63572332117
Debtors7-1276
Cash at bank and in hand995575
3671833968
CURRENT LIABILITIES
Creditors: amounts falling due
within one year81206018888
NET CURRENT ASSETS2465815080
TOTAL ASSETS LESS CURRENT LIABILITIES7038060923
 
Creditors: amounts falling due
after more than one year93600036000
 
NET ASSETS3438024923
 
CAPITAL AND RESERVES
Called up share capital280280
Share premium account1991019910
Retained earnings141904733
SHAREHOLDERS FUNDS3438024923

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st March 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and 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.

Approved by the Board on 5 December 2024


M Coleman

Director

Company Number 09337732 (England)

By Milo Limited

NOTES TO THE ACCOUNTS

for the year ended 31st March 2024


1   Statutory information

By Milo Limited is a private company limited by shares and registered under company number 09337732 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent. DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, 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, machinery and vehicles10% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 2 (2023 - 2).

4   Intangible assets
£
Product Development Costs
 
Cost
At 1st April 2023 and
At 31st March 202443744
 
Amortisation
At 1st April 2023 and
At 31st March 2024-
 
Net Book Value
At 31st March 202443744
At 31st March 202343744

Intangible Fixed Assets are being written off in equal annual instalments over each asset's estimated economic life.


5   Property, plant and equipment
 
Plant
and
MachineryTotal
££
Cost
At 1st April 2023 and
At 31st March 202430203020
 
Depreciation
At 1st April 2023 921921
Charge for year121121
At 31st March 202410421042
 
Net Book Value
At 31st March 202419781978
At 31st March 202320992099

6   Stocks20242023
££
 
Finished goods and goods for resale3572332117
3572332117

The difference between purchase price or production cost of stocks and their replacement cost is not material.


7   Debtors20242023
££
 
Trade Debtors-670
Other debtors-606
-1276

8   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts46918588
Trade Creditors14942536
Taxes and social security costs338166
Other creditors55377598
1206018888

9   Creditors: amounts falling due after one year20242023
££
 
Loans and Overdrafts3600036000
3600036000

10   Loans20242023
££
Analysis of maturity of debt:
 
Within one year46918588
Between one and five years3600036000
4069144588

11   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
M Coleman36472776
36472776

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