Condensed statement of cash flows

For the six months ended 31 July 2024

NOTES TO THE UNAUDITED INTERIM ACCOUNTS

FOR THE PERIOD ENDED 31 JULY 2024

1.            General information

Milton Capital Plc is a company incorporated in the United Kingdom, which is listed on the Standard List of London Stock Exchange.  The address of its registered office is The Scalpel, 18^th Floor, 52 Lime Street, London EC3M 7AF.

The Company's principal activity is that of a Special Purpose Acquisition Company. Milton was formed with the intention to identify and acquire a suitable business opportunity or opportunities and undertake an acquisition or merger or a series of acquisitions or mergers.

2.            Basis of preparation

The condensed interim financial statements have been prepared in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority and with International Accounting Standard ("IAS") 34 "Interim Financial Reporting". It should be read in conjunction with the annual financial statements for the year ended 31 January 2024 for full details of the accounting policies adopted.

The interim financial statements are presented in pounds sterling, rounded to the nearest pound.

The condensed interim financial information for the six months ended 30 July 2024 and 2023 have not been audited or reviewed and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. The comparative financial information for the year ended 31 January 2024 has been derived from the audited financial statements for that period.  A copy of those statutory financial statements for the year ended 31 January 2024 has been delivered to the Registrar of Companies.  The report of the independent auditors on those financial statements was unqualified and did not contain a statement under Sections 498 (2) or (3) of the Companies Act 2006.

The interim financial statements have been prepared in accordance with International Accounting Standards in conformity with the requirements of the Companies Act 2006 as they apply to the financial statements of the Company for the six months ended 31 July 2024 and as applied in accordance with the provisions of the Companies Act 2006 and under the historical cost convention or fair value where appropriate.  They have also been prepared on a basis consistent with the accounting policies expected to be applied for the year ending 31 January 2025 and which are also consistent with those set out in the statutory accounts of the Company for the year ended 31 January 2024.

3.            Going concern basis of preparation

The Company had approximately £531,615 in cash at the period end. The Directors have prepared the accounts on a going concern basis as they consider that the Company has adequate funding.

4.            Principal risks at 31 July 2024 and key changes since the 2024 annual report

The Directors have reviewed the principal risks facing the Company and concluded for the remaining six months of the financial year that there are no significant changes to those disclosed in the 2024 annual financial statements. A full description of the Company's principal risks can be found on page 10 of the 2024 annual financial statements.

5.    Loss per share

The basic loss per share is calculated by dividing the loss attributable to the ordinary shareholders of the Company by the weighted average number of Ordinary shares in issue during the period, excluding Ordinary shares purchased by the Company and held as treasury shares.

The loss and weighted average number of shares used for calculating the diluted loss per share are identical to those for the basic loss per share. The outstanding share options would have the effect of reducing the loss per share and would therefore not be dilutive under IAS 33 'Earnings per Share'.

5              Dividends

The Directors do not propose to declare a dividend for the period.

6              Copies of interim results

Copies of the interim results can be obtained from the website www.milton-capital.co.uk.  From this site you may access our financial reports and presentations, recent press releases and details about the Company and its operations.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements.  Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions.  These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities.  Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements.  Persons receiving and reading this announcement should not place undue reliance on forward-looking statements.  Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.