Registered number: 02803864 | ||||||||
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FOR THE YEAR ENDED 31 AUGUST 2022 | ||||||||
Prepared By: | ||||||||
Brook & Co Accountants | ||||||||
Chartered Certified Accountants | ||||||||
33a High Street | ||||||||
Stony Stratford | ||||||||
Milton Keynes | ||||||||
Bucks | ||||||||
MK11 1AA |
Milenco Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 AUGUST 2022 | ||||||||
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 | ||||||||
Brook & Co Accountants | ||||||||
Chartered Certified Accountants | ||||||||
33a High Street | ||||||||
Stony Stratford | ||||||||
Milton Keynes | ||||||||
Bucks | ||||||||
MK11 1AA |
Milenco Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 AUGUST 2022 | ||||||||
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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2022 | 2021 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 4 |
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Cash at bank and in hand |
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8,537,944 | 10,194,771 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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8,522,025 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 |
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Profit and loss account | 7,160,189 | 8,607,599 | ||||||||
SHAREHOLDERS' FUNDS |
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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 2022 | ||||||||||
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. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
Milenco Limited | ||||||||
2. TANGIBLE FIXED ASSETS | ||||
Plant and | ||||
Machinery Etc. | Total | |||
£ | £ | |||
Cost | ||||
At 1 September 2021 | 342,283 | 342,283 | ||
Additions | 55,689 | 55,689 | ||
Disposals | (39,167) | (39,167) | ||
At 31 August 2022 | 358,805 | 358,805 | ||
Depreciation | ||||
At 1 September 2021 | 256,707 | 256,707 | ||
Disposals | (7,833) | (7,833) | ||
For the year | 19,760 | 19,760 | ||
At 31 August 2022 | 268,634 | 268,634 | ||
Net Book Amounts | ||||
At 31 August 2022 | 90,171 | 90,171 | ||
At 31 August 2021 | 85,576 | 85,576 | ||
3. STOCK | 2022 | 2021 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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4. DEBTORS | 2022 | 2021 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 1,312,370 | 1,430,790 | ||||||
Other debtors |
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Milenco Limited | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Trade creditors | 276,606 | 369,121 | ||||||
Taxation and social security | 612,428 | 693,716 | ||||||
Other creditors | 578,890 | 609,909 | ||||||
1,467,924 | 1,672,746 | |||||||
6. EMPLOYEES | ||||||
2022 | 2021 | |||||
No. | No. | |||||
Average number of employees |
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17 | ||||
7. SHARE CAPITAL | 2022 | 2021 | ||||||
£ | £ | |||||||
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. | ||||||||