Milords International Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01379891 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Milords International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Z M M Ismail

Y Ismail

REGISTERED OFFICE:

8 Geoff Monk Way

Birstall

Leicester

Leicestershire

LE4 3BU

REGISTERED NUMBER:

01379891 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

12,773

12,466

Investments

5

300

13,073

12,766

CURRENT ASSETS

Stocks

576,015

556,759

Debtors

6

6,038,784

5,679,188

Cash at bank and in hand

186,203

94,205

6,801,002

6,330,152

CREDITORS

Amounts falling due within one year

7

(4,715,425

)

(5,049,138

)

NET CURRENT ASSETS

2,085,577

1,281,014

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,098,650

1,293,780

CREDITORS

Amounts falling due after more than one
year

8

(1,381,783

)

(975,000

)

NET ASSETS

716,867

318,780

CAPITAL AND RESERVES

Called up share capital

250,000

Retained earnings

466,867

68,780

SHAREHOLDERS' FUNDS

716,867

318,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 29 September 2025 and were signed on its behalf by:

Y Ismail - Director

1.	STATUTORY INFORMATION

Milords International 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going Concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and so continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Milords International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the purchase on a first-in, first-out basis.

At the end of each reporting period stocks are assessed for impairment.

Taxation

Taxation for the year 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 year 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

COST

At 1 January 2024

161,926

47,095

277,482

486,503

Additions

-

2,213

At 31 December 2024

161,926

47,095

279,695

488,716

DEPRECIATION

At 1 January 2024

161,926

47,095

265,016

474,037

Charge for year

-

1,906

At 31 December 2024

161,926

47,095

266,922

475,943

NET BOOK VALUE

At 31 December 2024

-

12,773

At 31 December 2023

-

12,466

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2024

and 31 December 2024

600,200

PROVISIONS

At 1 January 2024

and 31 December 2024

599,900

NET BOOK VALUE

At 31 December 2024

300

At 31 December 2023

300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

850,807

666,916

Amounts owed by group undertakings

1,477,366

1,476,646

Other debtors

3,710,611

3,535,626

6,038,784

5,679,188

Other debtors includes prepayments and accrued income of £18,827 (2023: £14,863).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

476,557

1,316,355

Trade creditors

1,577,914

1,082,910

Taxation and social security

17,249

94,075

Other creditors

2,643,705

2,555,798

4,715,425

5,049,138

Other creditors includes accruals and deferred income of £80,358 (2023: £9,141).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

1,381,783

975,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

240,087

900,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank overdrafts

160,355

1,256,355

Bank loans

1,697,985

1,035,000

1,858,340

2,291,355

The bank loans and overdraft are secured by a fixed and floating debenture charge on all the assets of the company. Security is held by the bank in the form of personal guarantees from all of the directors and shareholders, together with a corporate guarantee from Second Generation (2000) Limited.

10.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £86,832 (2023 - £114,198).