Milton Regent Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09943581 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Milton Regent Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Richards

M Richards

P Sanghera

REGISTERED OFFICE:

2 Cricklade Court

Old Town

Swindon

Wiltshire

SN1 3EY

REGISTERED NUMBER:

09943581 (England and Wales)

ACCOUNTANTS:

Morley & Co (UK) Ltd

Chartered Certified Accountants,

2 Cricklade Court

Old Town

Swindon

Wiltshire

SN1 3EY

FIXED ASSETS

Tangible assets

4

1,140

960

Investments

5

16,550

-

Investment property

6

284,399

207,306

302,089

208,266

CURRENT ASSETS

Cash at bank

9,901

31,329

CREDITORS

Amounts falling due within one year

7

1,487

2,062

NET CURRENT ASSETS

8,414

29,267

TOTAL ASSETS LESS CURRENT LIABILITIES

310,503

237,533

CREDITORS

Amounts falling due after more than one year

8

(256,254

)

(183,024

)

PROVISIONS FOR LIABILITIES

(10,450

)

(6,644

)

NET ASSETS

43,799

47,865

CAPITAL AND RESERVES

Called up share capital

300

300

Fair value reserve

9

44,350

44,350

Retained earnings

(851

)

3,215

SHAREHOLDERS' FUNDS

43,799

47,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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

(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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 23 May 2019 and were signed on its behalf by:

M Richards - Director

P Sanghera - Director

1.	STATUTORY INFORMATION

Milton Regent 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for as

follows:

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable

expenditure. Investment properties whose fair value can be measured reliably are measured at fair value. The

surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss

reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be

permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments

Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank

loans and loans to or from other group companies are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

1,430

Additions

499

At 31 December 2018

1,929

DEPRECIATION

At 1 January 2018

470

Charge for year

319

At 31 December 2018

789

NET BOOK VALUE

At 31 December 2018

1,140

At 31 December 2017

960

5.	FIXED ASSET INVESTMENTS

2018

2017

£

£

Other investments not loans

16,550

-

Additional information is as follows:

Other

investments

£

COST

Additions

1,550

At 31 December 2018

1,550

NET BOOK VALUE

At 31 December 2018

1,550

Investments (neither listed nor unlisted) were as follows:

2018

2017

£

£

FOREX

15,000

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

207,306

Additions

77,093

At 31 December 2018

284,399

NET BOOK VALUE

At 31 December 2018

284,399

At 31 December 2017

207,306

Fair value at 31 December 2018 is represented by:

£

Valuation in 2016

20,000

Valuation in 2017

35,000

Cost

229,399

284,399

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

(439

)

223

Taxation and social security

6

-

Other creditors

1,920

1,839

1,487

2,062

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

256,254

183,024

Amounts falling due in more than five years:

Repayable by instalments

Mortgage > 5 years

48,750

-

9.

RESERVES

Fair

value

reserve

£

At 1 January 2018

and 31 December 2018

44,350

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed the following amounts to the directors of the company:

M Richards

£46,060

J Richards

£46,060

P Sanghera

£46,060

Total

£138,180

These amounts are repayable within 12 months and 1 day after the balance sheet date.