REGISTERED NUMBER: 11176639 (England and Wales)

Miloco Gear Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J B Bronte-Stewart

REGISTERED OFFICE:

36 Leroy Street

London

SE1 4SP

REGISTERED NUMBER:

11176639 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Intangible assets

4

25,000

30,000

CURRENT ASSETS

Debtors

5

71,935

54,266

Cash at bank

1

24,956

71,936

79,222

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

143,437

64,035

NET CURRENT (LIABILITIES)/ASSETS

(71,501

)

15,187

TOTAL ASSETS LESS CURRENT LIABILITIES

(46,501

)

45,187

PROVISIONS FOR LIABILITIES

-

77,000

NET LIABILITIES

(46,501

)

(31,813

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(46,601

)

(31,913

)

SHAREHOLDERS' FUNDS

(46,501

)

(31,813

)

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr J B Bronte-Stewart - Director

1.	STATUTORY INFORMATION

Miloco Gear 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.

Turnover

Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those goods and services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Going concern

The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next twelve months and thus conclude that the going concern basis remains appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

50,000

AMORTISATION

At 1 January 2024

20,000

Charge for year

5,000

At 31 December 2024

25,000

NET BOOK VALUE

At 31 December 2024

25,000

At 31 December 2023

30,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

7,833

10,797

Amounts owed by group undertakings

64,102

40,464

Other debtors

-

3,005

71,935

54,266

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

136,666

56,188

Amounts owed to group undertakings

3,583

4,630

Taxation and social security

1,113

-

Other creditors

2,075

3,217

143,437

64,035

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed amounts totalling £3,583 (2023 - £4,630) and was owed amounts totalling £64,102 (2023 - £40,464) by fellow group companies.

These balances are unsecured, interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The parent company is Miloco Group Limited.

The controlling party is James Bronte-Stewart by virtue of his shareholding in Miloco Group Limited.