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Registered number: 01775398










MILEWORTH LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




















 
MILEWORTH LIMITED
 
 
Company Information


Director
J P Walters 




Registered number
01775398



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW





 
MILEWORTH LIMITED
Registered number: 01775398

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 3 
50,610
680,610

  
50,610
680,610

Total assets less current liabilities
  
 
 
50,610
 
 
680,610

  

Net assets
  
50,610
680,610


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
50,510
680,510

  
50,610
680,610


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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 the provisions of FRS 102 Section 1A - small entities.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 March 2025.




J P Walters
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 1

 
MILEWORTH LIMITED
 

Statement of changes in equity
For the Year Ended 31 December 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2024
100
680,510
680,610
Total comprehensive income for the year
-
-
-


Contributions by and distributions to owners

Dividends: Equity capital
-
(630,000)
(630,000)


Total transactions with owners
-
(630,000)
(630,000)


At 31 December 2024
100
50,510
50,610


The notes on pages 3 to 4 form part of these financial statements.


Statement of changes in equity
For the Year Ended 31 December 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
675,705
675,805


Comprehensive income for the year

Profit for the year
-
4,805
4,805
Total comprehensive income for the year
-
4,805
4,805


Total transactions with owners
-
-
-


At 31 December 2023
100
680,510
680,610


The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
MILEWORTH LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2024

1.


General information

Mileworth Limited is a private limited company incorporated in the United Kingdom and registered in England and Wales. The company's registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
The principal activity of the company during the year was that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Investment property

Investment property is initially recognised on acquisition at cost, including related acquisition costs, and is revalued annually by a professionally qualified director to reflect fair value. Fair value is derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
50,610
680,610

50,610
680,610


Page 3

 
MILEWORTH LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2024

4.


Related party transactions

The company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, which are wholly owned subsidiaries.


5.


Parent undertaking

The parent undertaking of the smallest group of which Mileworth Limited is a member and consolidated accounts are prepared is Hunting Gate Group Limited. Their registered office address is 3rd Floor, 12 Gough Square, London, EC4A 3DW.

 
Page 4