Company Registration No. SC511336 (Scotland)
MILK MONEY LIMITED
Unaudited accounts
for the year ended 31 July 2017
MILK MONEY LIMITED
Annual report and unaudited accounts
for the year ended 31 July 2017
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
MILK MONEY LIMITED
for the year ended 31 July 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
MILK MONEY LIMITED for the year ended
31 July 2017 as set out on pages
4 -
5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the Board of Directors of MILK MONEY LIMITED, as a body, in accordance with the terms of our engagement letter dated 24 July 2017. Our work has been undertaken solely to prepare for your approval the accounts of MILK MONEY LIMITED and state those matters that we have agreed to state to the Board of Directors of MILK MONEY LIMITED, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MILK MONEY LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MILK MONEY LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of MILK MONEY LIMITED. You consider that MILK MONEY LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MILK MONEY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Gillian Caughey, CA
Chartered Accountants
Fearless Financials Ltd
Studio 106, South Block, 60 Osbourne St
Glasgow
G1 5QH
16 April 2018
MILK MONEY LIMITED
Statement of Financial Position
as at
31 July 2017
Current assets
3,748
4,374
Prepayments and accrued income
27
48
Creditors: amounts falling due within one year
(13,147)
(7,595)
Net current liabilities
(9,372)
(3,173)
Total assets less current liabilities
(7,619)
(2,429)
Net liabilities
(7,619)
(2,429)
Capital and reserves
(7,619)
(2,429)
1 Directors' advances, credit and guarantees
The company has received loans from its Directors totalling £9,606
Given the negative net assets of the company as at 31 July 2017, the Directors have guaranteed that they will not seek repayment of these loans unless the company has positive net assets.
2 Guarantees and other financial commitments
There are no capital commitments.
There are no other financial commit
No contingent liabilities have been identified
3 Average number of employees
During the year the average number of employees was 0 (2016: 0).
MILK MONEY LIMITED
Statement of Financial Position
as at
31 July 2017
(continued)
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 17 April 2018
James Angus Stuart-Gammie
Director
Company Registration No. SC511336