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Unaudited Financial Statements

for the Period 1 January 2024 to 30 June 2025

for

Milekine Limited

Milekine Limited (Registered number: 08641176)

Contents of the Financial Statements
for the Period 1 January 2024 to 30 June 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Milekine Limited

Company Information
for the Period 1 January 2024 to 30 June 2025







DIRECTORS: M R Goddard
N Quarendon





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 08641176 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Milekine Limited (Registered number: 08641176)

Balance Sheet
30 June 2025

2025 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 715,000

CURRENT ASSETS
Cash at bank 6,000 4,007

CREDITORS
Amounts falling due within one year 5 - 186,956
NET CURRENT ASSETS/(LIABILITIES) 6,000 (182,949 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,000

532,051

CREDITORS
Amounts falling due after more than one
year

6

-

(356,658

)

PROVISIONS FOR LIABILITIES - (42,446 )
NET ASSETS 6,000 132,947

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 5,900 132,847
SHAREHOLDERS' FUNDS 6,000 132,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2025 and were signed on its behalf by:





N Quarendon - Director


Milekine Limited (Registered number: 08641176)

Notes to the Financial Statements
for the Period 1 January 2024 to 30 June 2025


1. STATUTORY INFORMATION

Milekine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rentals earned and
provided in the normal course of business. The fair value of consideration takes into account any discounts.

Revenue from rentals is recognised when due, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Milekine Limited (Registered number: 08641176)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 30 June 2025


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 715,000
Disposals (715,000 )
At 30 June 2025 -
NET BOOK VALUE
At 30 June 2025 -
At 31 December 2023 715,000

Investment properties have been re-valued by the directors to their fair value at the year end date.

Milekine Limited (Registered number: 08641176)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 30 June 2025


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2023
£    £   
Bank loans and overdrafts - 10,647
Trade creditors - 1
Amounts owed to participating interests - 174,055
Tax - 17
Directors' current accounts - 134
Accruals and deferred income - 1,200
Accrued expenses - 902
- 186,956

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2023
£    £   
Bank loans - 1-2 years - 60,078
Bank loans - 2-5 years - 89,754
Bank loans more 5 yr by instal - 206,826
- 356,658

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 206,826

7. SECURED DEBTS

National Westminster Bank Plc has fixed and floating charges, dated 30 October 2015, 11 December 2015 and 18 March 2016, over the investment properties currently held within the fixed assets and other assets of the company.

8. RESERVES

At the year end date, £124,054 (2022: £127,340) of the accumulated profit and loss reserves werenon-distributable.