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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2019 |
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FOR |
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MILNES MAY LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2019 |
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FOR |
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MILNES MAY LTD |
MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MILNES MAY LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
No. 3 Caroline Court |
13 Caroline Street |
St Paul's Square |
Birmingham |
B3 1TR |
MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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BALANCE SHEET |
31 MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 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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Share premium |
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Retained earnings | ( |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
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. |
MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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BALANCE SHEET - continued |
31 MARCH 2019 |
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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
behalf by: |
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MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Milnes May Ltd is a
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company's registered number 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 |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Computer equipment | - |
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Current and deferred taxation |
Current tax, including UK corporation tax, is provided at amounts expected to be paid or recovered |
using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date where transactions or events that result in an obligation to pay more tax in the |
future or a right to pay less tax in the future have occurred at the balance sheet date. Timing |
differences are differences between the company's taxable profits and it results as stated in the |
financial statements that arise from inclusion of gains and losses in tax assessments in periods |
different from those in which they are recognised in the financial statements. |
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Unrelieved tax losses and other deferred tax assets are only recognised 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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Deferred tax is measured using the tax rates and laws that have been enacted or substantively |
enacted by the reporting date and that are expended to apply to the reversal of the timing differences. |
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Where items recognised in other comprehensive income and equity are chargeable to or deductible for |
tax purposes, the resulting current or deferred tax expense or income is presented in the same |
component of comprehensive income or equity as the transaction or other event that resulted in the tax |
expense or income. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Impairment of assets |
Assets, other than those measured at fair value, are assessed for indicators of impairment at each |
balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in |
profit or loss. |
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For financial assets carried at amortised costs, the amount of an impairment is the difference between |
the asset's carrying amount and the present value of estimated future cash flows, discounted at the |
financial asset's original effective interest rate. |
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For financial assets carried at cost less impairment, the impairment loss is the difference between the |
asset's carrying amount and the best estimate of the amount that would be received for the asset if it |
were to be sold at the reporting date. |
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Where indicators exist for the decrease in impairment loss, and the decrease can be related |
objectively to an event occuring after the impairment was recognised, the prior impairment loss is |
tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset |
to the extent that the revised recoverable value does not lead to a revised carrying amount higher than |
the carrying value had no impairment been recognised. |
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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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4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
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Amortisation for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Other creditors |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the year ended 31 March 2019 and |
the period ended 31 March 2018: |
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2019 | 2018 |
£ | £ |
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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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MILNES MAY LTD (REGISTERED NUMBER: 10481148) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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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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Loans to the directors were repaid post year end. |