Milk Education Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09474814 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

MILK EDUCATION LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Glen Lee Walsh

Mrs Emma Walsh

SECRETARY:

Mr Glen Lee Walsh

REGISTERED OFFICE:

The Plaza

100 Old Hall Street

Liverpool

L3 9QJ

REGISTERED NUMBER:

09474814 (England and Wales)

ACCOUNTANTS:

R Pau & Co Limited

Chartered Certified Accountants

12-16 Station Street East

Coventry

West Midlands

CV6 5FJ

BANKERS:

HSBC BANK PLC

47 East Gate Street

Chester

CH1 1XW

FIXED ASSETS

Tangible assets

3

3,357

4,196

CURRENT ASSETS

Work in progress

23,931

117,970

Debtors

274,648

624,377

Cash at bank and in hand

87,771

6,951

386,350

749,298

CREDITORS

Amounts falling due within one year

521,838

749,786

NET CURRENT LIABILITIES

(135,488

)

(488

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(132,131

)

3,708

CREDITORS

Amounts falling due after more than one year

190,000

-

NET (LIABILITIES)/ASSETS

(322,131

)

3,708

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

(322,233

)

3,606

SHAREHOLDERS' FUNDS

(322,131

)

3,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31st December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 26th August 2021 and were signed on its behalf by:

Mr Glen Lee Walsh - Director

1.	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 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.

Computer equipment

-

20% on reducing balance

STOCKS

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2019 - 17 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2020

and 31st December 2020

8,195

DEPRECIATION

At 1st January 2020

3,999

Charge for year

839

At 31st December 2020

4,838

NET BOOK VALUE

At 31st December 2020

3,357

At 31st December 2019

4,196