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Registered number: 05726638
MILFORD UK PROPERTIES LIMITED
UNAUDITED
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2025
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MILFORD UK PROPERTIES LIMITED
CONTENTS
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Notes to the financial statements
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MILFORD UK PROPERTIES LIMITED
REGISTERED NUMBER: 05726638
BALANCE SHEET
AS AT 31 AUGUST 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Non-distributable profit and loss account
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1
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MILFORD UK PROPERTIES LIMITED
REGISTERED NUMBER: 05726638
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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D Levy
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The notes on pages 3 to 9 form part of these financial statements.
2
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Milford UK Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 05726638. The registered office address is 287 Regents Park Road, Finchley, London, N3 3JY.
The company's principal activity continued to be that of residential letting investments.
2.Accounting policies
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Basis of preparation of financial statements
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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 company's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:
Turnover comprises of rental income received during the year excluding discounts, rebates, value added tax and other sales taxes.
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Profit and Loss account in the same period as the related expenditure. Grants received in respect of interest and finance charges on the Coronavirus Bounce Back Loan Scheme are included in other income.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to the Profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment properties are carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account.
4
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans to related parties.
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The average monthly number of employees, including directors, during the year was 3 (2024 - 4).
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5
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Charge for the year on owned assets
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Freehold investment property
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Long term leasehold investment property
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The 2025 valuations were made by the directors, on an open market value for existing use basis.
6
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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The bank loan of £10,000 (2024 - £10,000) included in creditors due within one year is a Coronavirus Bounce Back Loan Scheme, 100% guaranteed by the government.
The bank loans of £127,641 (2024 - £25,629) are secured by a first legal charge over the investment properties together with a fixed and floating charge over the remaining assets of the company. In addition, a director has provided a guarantee for a principal amount of £100,000 plus interest and other cost against the bank loan.
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7
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Creditors: Amounts falling due after more than one year
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The bank loan of £NIL (2024 - £10,000) included in creditors due after more than one year is a Coronavirus Bounce Back Loan Scheme, 100% guaranteed by the government.
The bank loans of £2,362,386 (2024 - £2,390,025) are secured by a first legal charge over the investment properties together with a fixed and floating charge over the remaining assets of the company. In addition, a director has provided a guarantee for a principal amount of £100,000 plus interest and other cost against the bank loan.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Charged to profit or loss
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8
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MILFORD UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
11.Deferred taxation (continued)
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Allotted, called up and fully paid
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2 Ordinary shares of £1.00 each
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Transactions with directors
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Included in creditors is an amount of £1,469 (2024 - £1,469) due to the directors of the company. The loans are interest free and repayable on demand.
Included in debtors is an amount of £9,288 (2024 - £40,125) due from the directors of the company. The interest of £858 (2024 - £255) at official interest rate was included and there are no fixed repayment terms.
9
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