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REGISTERED NUMBER: 00661119 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MILNES INVESTMENTS LIMITED

MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

ABRIDGED BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,484 95,312
Investments 5 6,891,273 6,855,317
Investment property 6 2,014,019 2,022,000
8,976,776 8,972,629

CURRENT ASSETS
Debtors 10,903 -
Cash at bank and in hand 685,002 291,840
695,905 291,840
CREDITORS
Amounts falling due within one year 9,299 11,099
NET CURRENT ASSETS 686,606 280,741
TOTAL ASSETS LESS CURRENT LIABILITIES 9,663,382 9,253,370

PROVISIONS FOR LIABILITIES 7 83,400 85,395
NET ASSETS 9,579,982 9,167,975

CAPITAL AND RESERVES
Called up share capital 17,499 17,499
Share premium 8 1,000 1,000
Capital redemption reserve 8 7,501 7,501
Fair value reserve 8 297,302 297,302
Retained earnings 8 9,256,680 8,844,673
SHAREHOLDERS' FUNDS 9,579,982 9,167,975

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.

MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 January 2025 and were signed on its behalf by:




J Milnes - Director



A J Kennedy - Director


MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. GENERAL INFORMATION

Milnes Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00661119

Registered office: Unit 18
Turnstone Park
Mulberry Avenue
Widnes
Cheshire
WA8 0WN

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company's financial statement have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the provisions of Financial Reporting Standards 102 Section 1A - Small Entities. There are no material departures from that standard.

The financial statements are presented in sterling (£).

Turnover
Turnover comprises rental income receivable on investment properties, interest receivable, dividend income receivable and profit on sale of investments. All turnover is recognised on a receivable basis, with the exception of the disposals of investments, which are recognised on completion of contract.

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 - 20% on cost
Computer equipment - 33% on cost

Listed investments
Listed investments are stated at fair value.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 154,360
DEPRECIATION
At 1 May 2023 59,048
Charge for year 23,828
At 30 April 2024 82,876
NET BOOK VALUE
At 30 April 2024 71,484
At 30 April 2023 95,312

MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 May 2023 6,855,317
Additions 2,053,908
Disposals (2,444,696 )
Revaluations 426,744
At 30 April 2024 6,891,273
NET BOOK VALUE
At 30 April 2024 6,891,273
At 30 April 2023 6,855,317

Cost or valuation at 30 April 2024 is represented by:
Totals
£   
Valuation in 2017 118,447
Valuation in 2018 (59,550 )
Valuation in 2019 (20,935 )
Valuation in 2020 (89,403 )
Valuation in 2021 607,658
Valuation in 2022 (226,267 )
Valuation in 2023 (173,114 )
Valuation in 2024 426,744
Cost 6,307,693
6,891,273

Listed investments

The market value of the listed investments as at 30 April 2024 was £6,891,273 (2023: £6,855,317).

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 2,022,000
Disposals (7,981 )
At 30 April 2024 2,014,019
NET BOOK VALUE
At 30 April 2024 2,014,019
At 30 April 2023 2,022,000

MILNES INVESTMENTS LIMITED (REGISTERED NUMBER: 00661119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 382,695
Cost 1,631,324
2,014,019

The investment properties were valued on an open market value basis by the directors on 30 April 2024 at £2,014,019.

7. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 83,400 85,395

Deferred
tax
£   
Balance at 1 May 2023 85,395
Credit to Income Statement during year (1,995 )
Balance at 30 April 2024 83,400

8. RESERVES
Capital Fair
Retained Share redemption value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 May 2023 8,844,673 1,000 7,501 297,302 9,150,476
Profit for the year 412,007 412,007
At 30 April 2024 9,256,680 1,000 7,501 297,302 9,562,483