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COMPANY REGISTRATION NUMBER: 04016163
Milberg Ltd
Filleted Unaudited Financial Statements
31 March 2024
Milberg Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Milberg Ltd
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Milberg Ltd
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Milberg Ltd for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Milberg Ltd, as a body, in accordance with the terms of our engagement letter dated 29 May 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Milberg Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Milberg Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Milberg Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Milberg Ltd. You consider that Milberg Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Milberg Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BAULF-JAMES CHARTERED ACCOUNTANTS Chartered accountants
17-19 Station Road West Oxted Surrey RH8 9EE
8 January 2025
Milberg Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Work in progress
5
3,738,618
10,139,570
Debtors
6
485,093
Cash at bank and in hand
22,355
63,406
------------
-------------
3,760,973
10,688,069
Creditors: amounts falling due within one year
7
5,035,731
11,962,827
------------
-------------
Net current liabilities
1,274,758
1,274,758
------------
------------
Total assets less current liabilities
( 1,274,758)
( 1,274,758)
------------
------------
Net liabilities
( 1,274,758)
( 1,274,758)
------------
------------
Capital and reserves
Called up share capital
1,820
1,820
Profit and loss account
( 1,276,578)
( 1,276,578)
------------
------------
Shareholders deficit
( 1,274,758)
( 1,274,758)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
M D Grossman
Director
Company registration number: 04016163
Milberg Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Flag Business Exchange, Vicarage Farm Road, Peterborough, PE1 5TX, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Corporation tax
The taxation expense represents the aggregate amount of current corporation tax due.
Stock and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 33 (2023: 31 ).
5. Work in progress
2024
2023
£
£
Work in progress
3,738,618
10,139,570
------------
-------------
6. Debtors
2024
2023
£
£
Other debtors
485,093
----
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
1,457,941
Other creditors
3,577,790
11,962,827
------------
-------------
5,035,731
11,962,827
------------
-------------