Milton Regent Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09943581 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

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

960

1,246

Investment property

5

207,306

102,707

208,266

103,953

CURRENT ASSETS

Cash at bank

31,329

4,405

CREDITORS

Amounts falling due within one year

6

2,062

1,230

NET CURRENT ASSETS

29,267

3,175

TOTAL ASSETS LESS CURRENT LIABILITIES

237,533

107,128

CREDITORS

Amounts falling due after more than one year

7

(183,024

)

(89,700

)

PROVISIONS FOR LIABILITIES

(6,644

)

(3,769

)

NET ASSETS

47,865

13,659

CAPITAL AND RESERVES

Called up share capital

300

300

Fair value reserve

8

44,350

16,000

Retained earnings

3,215

(2,641

)

SHAREHOLDERS' FUNDS

47,865

13,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 26 June 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2017

and 31 December 2017

1,430

DEPRECIATION

At 1 January 2017

184

Charge for year

286

At 31 December 2017

470

NET BOOK VALUE

At 31 December 2017

960

At 31 December 2016

1,246

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

102,707

Additions

69,599

Revaluations

35,000

At 31 December 2017

207,306

NET BOOK VALUE

At 31 December 2017

207,306

At 31 December 2016

102,707

Fair value at 31 December 2017 is represented by:

£

Valuation in 2016

20,000

Valuation in 2017

35,000

Cost

152,306

207,306

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

223

90

Other creditors

639

-

Accrued expenses

1,200

1,140

2,062

1,230

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Mortgage

69,324

-

Directors' loan accounts

113,700

89,700

183,024

89,700

8.

RESERVES

Fair

value

reserve

£

At 1 January 2017

16,000

Revaluation on investments

28,350

At 31 December 2017

44,350

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

M Richards

£37,900

J Richards

£37,900

P Sanghera

£37,900

Total

£113,700

These amounts have been loaned interest free and are repayable within 12 months and 1 day after the balance

sheet date.