Registered Number 03799920
MILTON INVESTMENTS LIMITED
Abbreviated Accounts
31 December 2014
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Current assets | |||
Debtors |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention.
Financial reporting standard number 1:
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.
Compliance with accounting standards:
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
Turnover:
Turnover represents share of profits from partnership.
The company has a 5% interest in the partnership. The share of profit in the partnership for the year amounts to £12,372 (2013: £4,338). The share of net assets in the partnership amounts to £26,873 (2013: £17,407).
Deferred tax:
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Foreign currencies:
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Other accounting policies
The director is unable to identify the ultimate controlling party or any related party transactions.