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REGISTERED NUMBER: 03954546 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MILLIGAN STREET TRADING LIMITED

MILLIGAN STREET TRADING LIMITED (REGISTERED NUMBER: 03954546)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MILLIGAN STREET TRADING LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTORS: C H Faugh
Mrs E M Faugh





REGISTERED OFFICE: 88 North Street
Hornchurch
Essex
RM11 1SR





REGISTERED NUMBER: 03954546 (England and Wales)





ACCOUNTANTS: Lipson & Co
88 North Street
Hornchurch
Essex
RM11 1SR

MILLIGAN STREET TRADING LIMITED (REGISTERED NUMBER: 03954546)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 11,507 12,232

CURRENT ASSETS
Inventories 1,041 850
Debtors 5 28,633 31,133
Cash at bank 41,283 40,415
70,957 72,398
CREDITORS
Amounts falling due within one year 6 63,433 58,552
NET CURRENT ASSETS 7,524 13,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,031

26,078

CREDITORS
Amounts falling due after more than one
year

7

17,334

25,333
NET ASSETS 1,697 745

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,695 743
1,697 745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 21 January 2025 and were signed on its behalf by:




C H Faugh - Director



Mrs E M Faugh - Director


MILLIGAN STREET TRADING LIMITED (REGISTERED NUMBER: 03954546)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Inventories 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

MILLIGAN STREET TRADING LIMITED (REGISTERED NUMBER: 03954546)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 49,556 7,904 11,881 12,489 81,830
Additions 1,428 582 - - 2,010
At 30 April 2024 50,984 8,486 11,881 12,489 83,840
DEPRECIATION
At 1 May 2023 46,156 5,053 9,062 9,327 69,598
Charge for year 724 515 705 791 2,735
At 30 April 2024 46,880 5,568 9,767 10,118 72,333
NET BOOK VALUE
At 30 April 2024 4,104 2,918 2,114 2,371 11,507
At 30 April 2023 3,400 2,851 2,819 3,162 12,232

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 11,881
Transfer to ownership (11,881 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 9,062
Charge for year 705
Transfer to ownership (9,767 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 2,819

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 28,633 31,133

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 472
Trade creditors - 745
Taxation and social security 3,990 1,157
Other creditors 59,443 56,178
63,433 58,552

MILLIGAN STREET TRADING LIMITED (REGISTERED NUMBER: 03954546)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 17,334 25,333

8. ULTIMATE CONTROLLING PARTY

The company is under no overall control by any one party due to no shareholder owning a majority of the issued ordinary share capital.