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REGISTERED NUMBER:
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MILF LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 28 February 2017 |
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REGISTERED NUMBER:
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MILF LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 28 February 2017 |
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MILF LIMITED (REGISTERED NUMBER: 05048707) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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MILF LIMITED |
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Company Information |
for the Year Ended 28 February 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Highdale House |
7 Centre Court |
Treforest Industrial Estate |
Pontypridd |
Rhondda Cynon Taff |
CF37 5YR |
MILF LIMITED (REGISTERED NUMBER: 05048707) |
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Balance Sheet |
28 February 2017 |
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28.2.17 | 29.2.16 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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MILF LIMITED (REGISTERED NUMBER: 05048707) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2017 |
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1. | STATUTORY INFORMATION |
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Milf Limited is a
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and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements for the period ended 28th February 2017 are the first financial statements that comply with FRS |
102 Section 1A Small Entities. The date of transition is 1st March 2015. |
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The transition to FRS 102 Section 1A Small Entities has not resulted in any amendments to the comparative balance sheet, |
the balance sheet at the date of transition, or in the comparative income statement. |
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This financial statement is prepared based on going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Basic financial instruments |
A final asset held as an equity instrument is recognised initially at the transactional price (including transaction costs). |
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At the end of each reporting period, unlisted equity instruments are recorded at fair value, where appropriate, or at cost less |
impairment if their value cannot be reliably measured. Objective evidence of the impairment loss recognised in the profit or |
loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best |
estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date. |
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Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from |
the financial instrument. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that |
it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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MILF LIMITED (REGISTERED NUMBER: 05048707) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 March 2016 |
and 28 February 2017 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for year |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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5. | INVESTMENTS |
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28.2.17 | 29.2.16 |
£ | £ |
Other investments not loans |
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Additional information is as follows: |
Equity |
investments |
£ |
COST |
At 1 March 2016 |
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Additions |
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At 28 February 2017 |
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PROVISIONS |
At 1 March 2016 |
and 28 February 2017 | 27,038 |
NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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Investments (neither listed nor unlisted) were as follows: |
28.2.17 | 29.2.16 |
£ | £ |
Other investments | 25,000 | 25,000 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Trade debtors |
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Other debtors |
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MILF LIMITED (REGISTERED NUMBER: 05048707) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | CONTINGENT LIABILITIES |
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The company is a member of Tumour & Hormone Suppressant LLP and is liable to contribute to the assets of the LLP in the |
event of a winding-up before 1st March 2022. The maximum liability in relation to this undertaking is £60,000. The |
company does not believe that a winding-up of the LLP is probable and has not made provision for the liability at 28th |
February 2017. |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 28 February 2017 and 29 February 2016: |
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28.2.17 | 29.2.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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10. | RELATED PARTY DISCLOSURES |
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Mr M J Baker and Mrs L C Baker are also the director of Visual Healthcare Solutions Limited. During the period MILF
Limited provided a loan of £Nil (2016: Nil) to Visual Healthcare Solutions Limited. At the balance sheet date Visual Healthcare Solutions Limited owed the company £ |