Registered number: 02803864 | ||||||||
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FOR THE YEAR ENDED 31 AUGUST 2017 | ||||||||
Prepared By: | ||||||||
GALLAGHERS | ||||||||
CHARTERED ACCOUNTANTS | ||||||||
33A | ||||||||
HIGH STREET | ||||||||
STONY STRATFORD | ||||||||
BUCKS | ||||||||
MK11 1AA |
Milenco Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 AUGUST 2017 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
N P Ward | ||||||||
REGISTERED OFFICE | ||||||||
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Buckinghamshire | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 02803864 | ||||||||
BANKERS | ||||||||
Santander Corporate | ||||||||
ACCOUNTANTS | ||||||||
GALLAGHERS | ||||||||
CHARTERED ACCOUNTANTS | ||||||||
33A | ||||||||
HIGH STREET | ||||||||
STONY STRATFORD | ||||||||
BUCKS | ||||||||
MK11 1AA |
Milenco Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 AUGUST 2017 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Milenco Limited | ||||||||
BALANCE SHEET AT
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2017 | 2016 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock | 634,794 | 519,507 | ||||||||
Debtors | 4 | 753,412 | 664,393 | |||||||
Cash at bank and in hand |
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5,960,555 | 4,515,562 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | 1,254,326 | 1,316,627 | |||||||
NET CURRENT ASSETS | 4,706,229 | 3,198,935 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 4,816,111 | 3,319,885 | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | 2 | 2 | |||||||
Profit and loss account | 4,816,109 | 3,319,883 | ||||||||
SHAREHOLDERS' FUNDS |
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3,319,885 | ||||||||
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The directors have decided not to deliver to the registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
Milenco Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 AUGUST 2017 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Plant and Machinery | reducing balance 15% | |||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Motor Cars | reducing balance 20% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
Milenco Limited | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||||
Plant and | Fixtures | |||||||
Machinery | and Fittings | Motor Cars | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 September 2016 | 204,296 | 40,092 | 84,723 | 329,111 | ||||
Additions | - | - | 12,084 | 12,084 | ||||
At 31 August 2017 | 204,296 | 40,092 | 96,807 | 341,195 | ||||
Depreciation | ||||||||
At 1 September 2016 | 143,925 | 31,355 | 32,881 | 208,161 | ||||
For the year | 9,056 | 1,311 | 12,785 | 23,152 | ||||
At 31 August 2017 | 152,981 | 32,666 | 45,666 | 231,313 | ||||
Net Book Amounts | ||||||||
At 31 August 2017 |
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At 31 August 2016 |
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3. STOCK | 2017 | 2016 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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4. DEBTORS | 2017 | 2016 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 738,027 | 640,952 | ||||||
Other debtors | 15,385 | 23,441 | ||||||
753,412 | 664,393 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
UK corporation tax | 304,533 | 289,668 | ||||||
VAT | 22,083 | 28,367 | ||||||
PAYE control | 3,586 | 8,885 | ||||||
Directors current account | 119,013 | 318,440 | ||||||
Trade creditors | 248,317 | 129,151 | ||||||
Other creditors | 1,016 | 1,016 | ||||||
Accruals | 555,778 | 541,100 | ||||||
1,254,326 | 1,316,627 | |||||||
Milenco Limited | ||||||||
6. EMPLOYEES | ||||||
2017 | 2016 | |||||
No. | No. | |||||
Average number of employees | 13 | 13 | ||||
7. SHARE CAPITAL | 2017 | 2016 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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2 | 2 | ||||||
2 | 2 | |||||||
8. CONTROLLING PARTY | ||||||||
The company is 100% owned by the Director Mr F N Milbank | ||||||||
9. INTELLECTUAL PROPERTY | ||||||||
The company is committed to a policy of protecting its Intellectual Property rights in all jurisdictions where they are legally registered. The company has been successful in taking legal action against competitors who have copied its designs. The company will continue with any legal action in similar circumstances. | ||||||||