REGISTERED NUMBER: 05339606 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MILE ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Accountants' Report

9

DIRECTORS:

M A Ruff

I F Levy

R Levy

SECRETARY:

I F Levy

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

05339606 (England and Wales)

ACCOUNTANTS:

MGR Paris Limited

Chartered Accountants

55 Loundoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

16,119

10,783

CURRENT ASSETS

Debtors

5

599,701

460,599

Cash at bank and in hand

252,875

380,041

852,576

840,640

CREDITORS

Amounts falling due within one year

6

(128,704

)

(107,691

)

NET CURRENT ASSETS

723,872

732,949

TOTAL ASSETS LESS CURRENT LIABILITIES

739,991

743,732

PROVISIONS FOR LIABILITIES

7

(3,599

)

(1,980

)

NET ASSETS

736,392

741,752

CAPITAL AND RESERVES

Called up share capital

8

10,201

10,201

Capital redemption reserve

9

333

333

Retained earnings

9

725,858

731,218

SHAREHOLDERS' FUNDS

736,392

741,752

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

I F Levy - Director

1.	STATUTORY INFORMATION

Mile Estates Ltd 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.

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 pound.

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 represents net invoiced commissions from sales and lettings of properties, excluding value added tax.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

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.

Cash and cash equivalent

Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Basic financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment

Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators or impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non-current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

9,735

15,070

3,535

28,340

Additions

-

8,056

3,305

11,361

At 31 December 2024

9,735

23,126

6,840

39,701

DEPRECIATION

At 1 January 2024

7,791

6,953

2,813

17,557

Charge for year

974

4,043

1,008

6,025

At 31 December 2024

8,765

10,996

3,821

23,582

NET BOOK VALUE

At 31 December 2024

970

12,130

3,019

16,119

At 31 December 2023

1,944

8,117

722

10,783

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

5,496

Other debtors

599,701

455,103

599,701

460,599

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

17,584

11,844

Taxation and social security

101,321

87,072

Other creditors

9,799

8,775

128,704

107,691

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

3,599

1,980

Deferred

tax

£

Balance at 1 January 2024

1,980

Provided during year

1,619

Balance at 31 December 2024

3,599

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

10,005

Ordinary

£1

10,005

10,005

98

Ordinary A

£1

98

98

98

Ordinary B

£1

98

98

10,201

10,201

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2024

731,218

333

731,551

Profit for the year

169,640

169,640

Dividends

(175,000

)

(175,000

)

At 31 December 2024

725,858

333

726,191

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

I F Levy

Balance outstanding at start of year

(868

)

(4,070

)

Amounts advanced

120,022

113,851

Amounts repaid

(120,169

)

(110,649

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,015

)

(868

)

M A Ruff

Balance outstanding at start of year

(120

)

3,449

Amounts advanced

79,563

76,864

Amounts repaid

(79,100

)

(80,433

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

343

(120

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mile Estates Ltd for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mile Estates Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mile Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Mile Estates Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mile Estates Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mile Estates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mile Estates Ltd. You consider that Mile Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mile Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MGR Paris Limited

Chartered Accountants

55 Loundoun Road

St John's Wood

London

NW8 0DL

30 September 2025