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Registration number: 05215129

Milestone Transport Planning Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 August 2024

 

Milestone Transport Planning Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Milestone Transport Planning Limited

(Registration number: 05215129)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

53,073

56,063

Other financial assets

5

1,141

439

 

54,214

56,502

Current assets

 

Debtors

6

505,770

485,648

Cash at bank and in hand

 

803,875

513,387

 

1,309,645

999,035

Creditors: Amounts falling due within one year

7

(193,478)

(130,895)

Net current assets

 

1,116,167

868,140

Total assets less current liabilities

 

1,170,381

924,642

Provisions for liabilities

(11,119)

(10,652)

Net assets

 

1,159,262

913,990

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,159,162

913,890

Shareholders' funds

 

1,159,262

913,990

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

 

Milestone Transport Planning Limited

(Registration number: 05215129)
Statement of Financial Position as at 31 August 2024

.........................................
Mrs J Stevens
Director

 

Milestone Transport Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 7 Ancells Court, Rye Close, Fleet , Hampshire, GU51 2UY.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Milestone Transport Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33.33% reducing balance

Fixtures and fittings

25% reducing balance

Intangible assets

Investments in cryptop currencies are recognised as intangible assets and are initially measured at fair value, with changes in fair value recognised in profit or loss.

Investments

Investments in foreign currencies where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Milestone Transport Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 20).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

78,486

25,300

-

103,786

Additions

10,919

-

2,283

13,202

Disposals

-

(2,473)

-

(2,473)

At 31 August 2024

89,405

22,827

2,283

114,515

Depreciation

At 1 September 2023

28,741

18,982

-

47,723

Charge for the year

13,872

2,175

143

16,190

Eliminated on disposal

-

(2,471)

-

(2,471)

At 31 August 2024

42,613

18,686

143

61,442

Carrying amount

At 31 August 2024

46,792

4,141

2,140

53,073

At 31 August 2023

49,745

6,318

-

56,063

 

Milestone Transport Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

439

439

Revaluations

702

702

At 31 August 2024

1,141

1,141

Impairment

Carrying amount

At 31 August 2024

1,141

1,141

6

Debtors

2024
£

2023
£

Trade debtors

420,503

413,473

Other debtors

293

53,206

Prepayments

84,974

18,969

505,770

485,648

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

60,156

22,890

Taxation and social security

120,997

96,472

Accruals and deferred income

4,572

4,951

Other creditors

7,753

6,582

193,478

130,895

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £191,142 (2023 - £137,234).