Registered number
08125558
Milton Park (Gargrave) Limited
Filleted Accounts
31 July 2024
Milton Park (Gargrave) Limited
Registered number: 08125558
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 120,309 120,309
Current assets
Debtors 4 257 20,712
Cash at bank and in hand 48,300 39,165
48,557 59,877
Creditors: amounts falling due within one year 5 (156,034) (156,725)
Net current liabilities (107,477) (96,848)
Total assets less current liabilities 12,832 23,461
Creditors: amounts falling due after more than one year 6 (7,981) (22,037)
Net assets 4,851 1,424
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,850 1,423
Shareholder's funds 4,851 1,424
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J N A Cawood
Director
Approved by the board on 7 January 2025
Milton Park (Gargrave) Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 120,919
At 31 July 2024 120,919
Depreciation
At 1 August 2023 610
At 31 July 2024 610
Net book value
At 31 July 2024 120,309
At 31 July 2023 120,309
4 Debtors 2024 2023
£ £
Trade debtors 257 1,681
Other debtors - 19,031
257 20,712
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 120,346 121,825
Other creditors 35,688 34,900
156,034 156,725
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 7,981 22,037
7 Related party transactions
At the balance sheet date the company owed the director £22,037
8 Controlling party
The company is under the control of the director
9 Other information
Milton Park (Gargrave) Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Niffany Gardens
Skipton
BD23 1SZ
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