Company registration number 09406957 (England and Wales)
MILLER INTERNATIONAL TECHNICAL LOSS ADJUSTERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
MILLER INTERNATIONAL TECHNICAL LOSS ADJUSTERS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MILLER INTERNATIONAL TECHNICAL LOSS ADJUSTERS LTD (REGISTERED NUMBER: 09406957)
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
359
420
Cash at bank and in hand
18,494
26,120
18,853
26,540
Creditors: amounts falling due within one year
5
(395,962)
(396,168)
Net current liabilities
(377,109)
(369,628)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(377,111)
(369,630)
Total equity
(377,109)
(369,628)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
Mr A Posnett
Director
MILLER INTERNATIONAL TECHNICAL LOSS ADJUSTERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Miller International Technical Loss Adjusters Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 16 Pellings Rise, Crowborough, East Sussex, TN6 2RZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company's directors have confirmed that the company will continue to receive the necessary financial support from Miller International Latam S.A. to continue trading for the foreseeable future. Consequently, the financial statements have been prepared on the Going Concern Basis.
1.3
Turnover
Turnover represents the sale of loss adjuster services for the insurance industry, provided in the normal course of business, and is shown net of VAT. Turnover is recognised when the service has been provided to the customer.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
MILLER INTERNATIONAL TECHNICAL LOSS ADJUSTERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 September 2023
1,349
Disposals
(1,349)
At 31 August 2024
Depreciation and impairment
At 1 September 2023
1,349
Eliminated in respect of disposals
(1,349)
At 31 August 2024
Carrying amount
At 31 August 2024
At 31 August 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
359
420
MILLER INTERNATIONAL TECHNICAL LOSS ADJUSTERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
174
774
Other creditors
395,788
395,394
395,962
396,168
6
Related party transactions
Miller International Latinoamerica Ajustes de Perdidas S.A.
At the balance sheet date the company owed £393,841 to Miller International Latinoamerica Ajustes de Perdidas S.A. This balance is included in other creditors.