Milamber Ventures Ltd 05667178 false 2023-09-29 2024-09-28 2024-09-28 The principal activity of the company is Group Holding Company Digita Accounts Production Advanced 6.30.9574.0 true 05667178 2023-09-29 2024-09-28 05667178 2024-09-28 05667178 bus:DeferredShareClass1 2024-09-28 05667178 bus:OrdinaryShareClass1 2024-09-28 05667178 core:CurrentFinancialInstruments 2024-09-28 05667178 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-28 05667178 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-28 05667178 core:OtherResidualIntangibleAssets 2024-09-28 05667178 bus:SmallEntities 2023-09-29 2024-09-28 05667178 bus:AuditExemptWithAccountantsReport 2023-09-29 2024-09-28 05667178 bus:FilletedAccounts 2023-09-29 2024-09-28 05667178 bus:SmallCompaniesRegimeForAccounts 2023-09-29 2024-09-28 05667178 bus:RegisteredOffice 2023-09-29 2024-09-28 05667178 bus:Director1 2023-09-29 2024-09-28 05667178 bus:DeferredShareClass1 2023-09-29 2024-09-28 05667178 bus:OrdinaryShareClass1 2023-09-29 2024-09-28 05667178 bus:PrivateLimitedCompanyLtd 2023-09-29 2024-09-28 05667178 bus:Agent1 2023-09-29 2024-09-28 05667178 core:OtherResidualIntangibleAssets 2023-09-29 2024-09-28 05667178 countries:England 2023-09-29 2024-09-28 05667178 2023-09-28 05667178 core:OtherResidualIntangibleAssets 2023-09-28 05667178 2022-09-29 2023-09-28 05667178 2023-09-28 05667178 bus:DeferredShareClass1 2023-09-28 05667178 bus:OrdinaryShareClass1 2023-09-28 05667178 core:CurrentFinancialInstruments 2023-09-28 05667178 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-28 05667178 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-28 05667178 core:OtherResidualIntangibleAssets 2023-09-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05667178

Milamber Ventures Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 September 2024

 

Milamber Ventures Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Milamber Ventures Ltd

Company Information

Director

Mr Andrew Hasoon

Registered office

27 Old Gloucester Street
London
WC1N 3AX

Accountants

Delphi Accounting Ltd
Chartered Tax AdviserUnit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

Milamber Ventures Ltd

(Registration number: 05667178)
Balance Sheet as at 28 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

207,143

241,603

Current assets

 

Debtors

5

418

587

Cash at bank and in hand

 

157

96

 

575

683

Creditors: Amounts falling due within one year

6

(65,174)

(75,980)

Net current liabilities

 

(64,599)

(75,297)

Total assets less current liabilities

 

142,544

166,306

Creditors: Amounts falling due after more than one year

6

(650,023)

(650,023)

Net liabilities

 

(507,479)

(483,717)

Capital and reserves

 

Called up share capital

7

667,198

662,198

Share premium reserve

3,165,638

3,165,638

Capital redemption reserve

2,056

2,056

Retained earnings

(4,342,371)

(4,313,609)

Shareholders' deficit

 

(507,479)

(483,717)

For the financial year ending 28 September 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.

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 27 June 2025
 

.........................................
Mr Andrew Hasoon
Director

 

Milamber Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

1

General information

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

The address of its registered office is:
27 Old Gloucester Street
London
WC1N 3AX

These financial statements were authorised for issue by the director on 27 June 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 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 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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

 

Milamber Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

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.

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.

Note that additional shares have been reported in the accounts as at 30 September 2023 in error, and these were not corrected until after the year end as the error was not found immediately.

3

Staff numbers

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

 

Milamber Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 29 September 2023

1,479,450

1,479,450

Additions acquired separately

7,933

7,933

Disposals

(42,393)

(42,393)

At 28 September 2024

1,444,990

1,444,990

Amortisation

At 29 September 2023

1,237,847

1,237,847

At 28 September 2024

1,237,847

1,237,847

Carrying amount

At 28 September 2024

207,143

207,143

At 28 September 2023

241,603

241,603

5

Debtors

Current

2024
£

2023
£

Prepayments

195

423

Other debtors

223

164

 

418

587

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

47

47

Trade creditors

 

4,376

4,289

Accruals and deferred income

 

1,500

4,000

Other creditors

 

59,251

67,644

 

65,174

75,980

 

Milamber Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other financial liabilities

650,023

650,023

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £0.01 each

38,201,867

382,019

38,201,867

382,019

Deferred Shares of £0.24 each

610,526

146,526

610,526

146,526

38,812,393

528,545

38,812,393

528,545

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

47

47