1 1 Milaco Engineering Limited 12101869 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 12101869 2023-08-01 2024-07-31 12101869 2024-07-31 12101869 bus:OrdinaryShareClass1 2024-07-31 12101869 core:RetainedEarningsAccumulatedLosses 2024-07-31 12101869 core:ShareCapital 2024-07-31 12101869 core:CurrentFinancialInstruments 2024-07-31 12101869 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 12101869 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 12101869 core:FurnitureFittingsToolsEquipment 2024-07-31 12101869 core:MotorVehicles 2024-07-31 12101869 bus:SmallEntities 2023-08-01 2024-07-31 12101869 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12101869 bus:FilletedAccounts 2023-08-01 2024-07-31 12101869 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12101869 bus:RegisteredOffice 2023-08-01 2024-07-31 12101869 bus:Director1 2023-08-01 2024-07-31 12101869 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 12101869 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12101869 bus:Agent1 2023-08-01 2024-07-31 12101869 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 12101869 core:MotorVehicles 2023-08-01 2024-07-31 12101869 core:OfficeEquipment 2023-08-01 2024-07-31 12101869 countries:AllCountries 2023-08-01 2024-07-31 12101869 2023-07-31 12101869 core:FurnitureFittingsToolsEquipment 2023-07-31 12101869 core:MotorVehicles 2023-07-31 12101869 2022-08-01 2023-07-31 12101869 2023-07-31 12101869 bus:OrdinaryShareClass1 2023-07-31 12101869 core:RetainedEarningsAccumulatedLosses 2023-07-31 12101869 core:ShareCapital 2023-07-31 12101869 core:CurrentFinancialInstruments 2023-07-31 12101869 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12101869 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12101869 core:FurnitureFittingsToolsEquipment 2023-07-31 12101869 core:MotorVehicles 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 12101869

Milaco Engineering Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

Milaco Engineering Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Milaco Engineering Limited

Company Information

Director

Mr David Thompson

Registered office

1 Barons Court Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

Accountants

Rawcliffe & Co Limited
Chartered accountantsUnit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

 

Milaco Engineering Limited

(Registration number: 12101869)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,326

3,853

Current assets

 

Debtors

10,794

11,332

Cash at bank and in hand

 

87,608

41,989

 

98,402

53,321

Prepayments and accrued income

 

504

697

Creditors falling due within one year

(24,104)

(19,539)

Net current assets

 

74,802

34,479

Total assets less current liabilities

 

78,128

38,332

Creditors falling due after more than one year

(8,253)

(11,447)

Accruals and deferred income

 

(1,775)

(1,750)

Net assets

 

68,100

25,135

Capital and reserves

 

Called up share capital

5

100

1

Retained earnings

68,000

25,134

Shareholders' funds

 

68,100

25,135

 

Milaco Engineering Limited

(Registration number: 12101869)
Abridged Balance Sheet as at 31 July 2024

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 January 2025
 

.........................................
Mr David Thompson
Director

   
     
 

Milaco Engineering Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
1 Barons Court Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP
England

These financial statements were authorised for issue by the director on 14 January 2025.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 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.

 

Milaco Engineering Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

Reducing Balance method at 25% p.a.

Motor vehicles

Reducing Balance method at 25% p.a.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Milaco Engineering Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

2,836

5,750

8,586

Additions

582

-

582

At 31 July 2024

3,418

5,750

9,168

Depreciation

At 1 August 2023

1,409

3,324

4,733

Charge for the year

502

607

1,109

At 31 July 2024

1,911

3,931

5,842

Carrying amount

At 31 July 2024

1,507

1,819

3,326

At 31 July 2023

1,427

2,426

3,853

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £0.01 each

100

1

100

1