Milestone Project Consultancy Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08144579 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

MILESTONE PROJECT CONSULTANCY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

Z Htut

SECRETARY:

Mrs J Htut

REGISTERED OFFICE:

The Workshop

32-40 Tontine Street

Folkestone

Kent

CT20 1JU

REGISTERED NUMBER:

08144579 (England and Wales)

ACCOUNTANTS:

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

FIXED ASSETS

Tangible assets

4

-

251

CURRENT ASSETS

Debtors

5

79,095

78,676

Cash at bank

27,559

33,600

106,654

112,276

CREDITORS

Amounts falling due within one year

6

61,906

62,467

NET CURRENT ASSETS

44,748

49,809

TOTAL ASSETS LESS CURRENT LIABILITIES

44,748

50,060

CREDITORS

Amounts falling due after more than one year

7

44,737

50,000

NET ASSETS

11

60

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

1

50

SHAREHOLDERS' FUNDS

11

60

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2023 and were signed by:

Z Htut - Director

1.	STATUTORY INFORMATION

Milestone Project Consultancy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in round pounds £ sterling.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2021

and 31 July 2022

3,676

DEPRECIATION

At 1 August 2021

3,425

Charge for year

251

At 31 July 2022

3,676

NET BOOK VALUE

At 31 July 2022

-

At 31 July 2021

251

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

10,089

28,068

Other debtors

50,000

50,000

Directors' current accounts

18,398

-

Tax

608

608

79,095

78,676

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

11,363

6,633

Trade creditors

13,763

34,896

Tax

14,188

6,210

Social security and other taxes

2,520

653

VAT

18,127

13,269

Directors' current accounts

-

6

Accrued expenses

1,945

800

61,906

62,467

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

5,263

5,263

Bank loans - 2-5 years

15,790

15,790

Bank loans more 5 yr by instal

23,684

28,947

44,737

50,000

2022

2021

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

23,684

28,947

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

10

Ordinary

£1

10

10

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2022 set out on pages one to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

29 August 2023