Acorah Software Products - Accounts Production 16.2.800 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10831597 Mrs Lauren Hampshire Mrs Lauren Jane HAMPSHIRE true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10831597 2023-06-30 10831597 2024-06-30 10831597 2023-07-01 2024-06-30 10831597 frs-core:CurrentFinancialInstruments 2024-06-30 10831597 frs-core:Non-currentFinancialInstruments 2024-06-30 10831597 frs-core:ComputerEquipment 2024-06-30 10831597 frs-core:ComputerEquipment 2023-07-01 2024-06-30 10831597 frs-core:ComputerEquipment 2023-06-30 10831597 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 10831597 frs-core:OtherResidualIntangibleAssets 2024-06-30 10831597 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 10831597 frs-core:OtherResidualIntangibleAssets 2023-06-30 10831597 frs-core:PlantMachinery 2024-06-30 10831597 frs-core:PlantMachinery 2023-07-01 2024-06-30 10831597 frs-core:PlantMachinery 2023-06-30 10831597 frs-core:ShareCapital 2024-06-30 10831597 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10831597 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10831597 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10831597 frs-bus:SmallEntities 2023-07-01 2024-06-30 10831597 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10831597 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10831597 1 2023-07-01 2024-06-30 10831597 frs-bus:Director1 2023-07-01 2024-06-30 10831597 frs-countries:EnglandWales 2023-07-01 2024-06-30 10831597 2022-06-30 10831597 2023-06-30 10831597 2022-07-01 2023-06-30 10831597 frs-core:CurrentFinancialInstruments 2023-06-30 10831597 frs-core:Non-currentFinancialInstruments 2023-06-30 10831597 frs-core:ShareCapital 2023-06-30 10831597 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 10831597
The Milky Tee Company Ltd.
Unaudited Financial Statements
For The Year Ended 30 June 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10831597
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 (1 ) 1,269
Tangible Assets 5 1,493 695
1,492 1,964
CURRENT ASSETS
Stocks 6 42,772 48,173
Debtors 7 4,475 1,236
Cash at bank and in hand 456 1,395
47,703 50,804
Creditors: Amounts Falling Due Within One Year 8 (38,260 ) (30,326 )
NET CURRENT ASSETS (LIABILITIES) 9,443 20,478
TOTAL ASSETS LESS CURRENT LIABILITIES 10,935 22,442
Creditors: Amounts Falling Due After More Than One Year 9 (10,205 ) (19,042 )
NET ASSETS 730 3,400
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 630 3,300
SHAREHOLDERS' FUNDS 730 3,400
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Lauren Hampshire
Director
26th March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Milky Tee Company Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10831597 . The registered office is 180 Boxley Road, Penenden Heath, Maidstone, Kent, ME14 2HG.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
  • Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
  • the Company has transferred the significant risks and rewards of ownership to the buyer;
  • the Company retains neither continuing managerial involvement to the degree usually
  • associated with ownership nor effective control over the goods sold;
  • the amount of revenue can be measured reliably;
  • it is probable that the Company will receive the consideration due under the transaction; and
  • the costs incurred or to be incurred in respect of the transaction can be measured reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the Businesses website. It is amortised to profit and loss account over its estimated economic life of five years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Computer Equipment 25% reducing balance
Assets considered to lose their value fully in the first year are fully depreciated at acquisition. 
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 6,349
As at 30 June 2024 6,349
Amortisation
As at 1 July 2023 5,080
Provided during the period 1,270
As at 30 June 2024 6,350
Net Book Value
As at 30 June 2024 (1 )
As at 1 July 2023 1,269
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 112 946 1,058
Additions 19 1,559 1,578
Disposals - (731 ) (731 )
As at 30 June 2024 131 1,774 1,905
Depreciation
As at 1 July 2023 4 359 363
Provided during the period 32 291 323
Disposals - (274 ) (274 )
As at 30 June 2024 36 376 412
...CONTINUED
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Net Book Value
As at 30 June 2024 95 1,398 1,493
As at 1 July 2023 108 587 695
6. Stocks
2024 2023
£ £
Finished goods 42,772 48,173
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 4,475 1,236
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,630 1,405
Bank loans and overdrafts 23,236 7,214
Other creditors 2,224 6,345
Taxation and social security 10,170 15,362
38,260 30,326
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,205 16,985
Other loans - 2,057
10,205 19,042
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is Mrs Lauren Jane HAMPSHIRE by virtue of ownership of 100% of the issued share capital in the company.
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