REGISTERED NUMBER: 09117536

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MILU (HURLEY) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Shlewet

B Shlewet

REGISTERED OFFICE:

2nd Floor

55 Ludgate Hill

London

United Kingdom

EC4M 7JW

REGISTERED NUMBER:

09117536

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

FIXED ASSETS

Tangible assets

4

6,752,456

6,688,973

Investments

5

100

100

6,752,556

6,689,073

CURRENT ASSETS

Debtors

6

6,155,842

5,440,211

Cash and cash equivalents

24,819

81,354

6,180,661

5,521,565

CREDITORS

Amounts falling due within one year

7

(3,317,172

)

(3,359,600

)

NET CURRENT ASSETS

2,863,489

2,161,965

TOTAL ASSETS LESS CURRENT LIABILITIES

9,616,045

8,851,038

CREDITORS

Amounts falling due after more than one year

8

(10,935,000

)

(10,000,000

)

NET LIABILITIES

(1,318,955

)

(1,148,962

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,319,055

)

(1,149,062

)

SHAREHOLDERS' FUNDS

(1,318,955

)

(1,148,962

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 11 December 2025 and were signed on its behalf by:

S Shlewet - Director

1.	GENERAL INFORMATION

Milu (Hurley) Limited is a private limited company (limited by shares) incorporated in England and Wales. The address of the registered office is 2nd Floor, 55 Ludgate Hill London EC4M 7JW.

The principle activity of the company is the holding of the freehold investment property.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Fixtures & fittings - 25%

Office equipment - 25%

Other fixed assets - 5%

Investment property

Investment property is carried at fair value determined annually by the directors. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

Taxation

Tax is recognised in the Statement of income and retained earnings.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Going concern

The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows, availability of bank facilities and mitigating actions that can be taken during that period, including confirming that the related party creditor will not call in its balance if the company doesn't have the funds to pay it within the next 12 months.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Other

Fixtures

Investment

fixed

and

Office

property

assets

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

6,467,753

259,315

395,655

20,750

7,143,473

Additions

-

75,606

6,173

4,480

86,259

At 31 March 2025

6,467,753

334,921

401,828

25,230

7,229,732

Depreciation

At 1 April 2024

-

75,193

358,557

20,750

454,500

Charge for year

-

5,720

16,096

960

22,776

At 31 March 2025

-

80,913

374,653

21,710

477,276

Net book value

At 31 March 2025

6,467,753

254,008

27,175

3,520

6,752,456

At 31 March 2024

6,467,753

184,122

37,098

-

6,688,973

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 April 2024

and 31 March 2025

100

Net book value

At 31 March 2025

100

At 31 March 2024

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Amounts owed by group undertakings

6,143,000

5,438,000

VAT

12,101

2,211

Prepayments

741

-

6,155,842

5,440,211

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade creditors

8,072

-

Other creditors

100

100

Amount owed to group company

3,305,000

3,355,000

Accruals

4,000

4,500

3,317,172

3,359,600

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Other creditors

10,935,000

10,000,000

9.	RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount of £3,305,000 (2024: £3,355,000) payable to a company controlled by the directors. The loan bears no interest and is repayable on demand.

Included in creditors falling due after more than one year is an amount of £10,935,000 (2024: £10,000,000) payable to close family of the directors. The loan bears no interest and is repayable by 1 August 2027.

The company has taken advantage of the exemption in Financial Reporting Standard 102 "Related Party Disclosure" from disclosing related party transactions within 100% owned group.

10.	PRIOR YEAR ADJUSTMENT

During the year the comparative figures for depreciation was amended to align with the policy. The adjustment of £26,830 resulted in a reduction in loss for the year and retained losses carried forward.

Impact of adjustment is set out below.

Restated

Original

2024

2024

Difference

Statement of Financial Position

£

£

£

Retained earnings

(1,149,062

)

(1,175,892

)

(26,830

)

Statement of Income and Retained earnings

Loss for the year

(167,793

)

(194,623

)

(26,830

)