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REGISTERED NUMBER: SC311047 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MILL GARAGE (DUNS) LIMITED

MILL GARAGE (DUNS) LIMITED (REGISTERED NUMBER: SC311047)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MILL GARAGE (DUNS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S F Horne
M J Horne





REGISTERED OFFICE: C/o Mill Garage (Duns)
Industrial Estate, Station Road
Duns
Berwickshire
TD11 3EJ





REGISTERED NUMBER: SC311047 (Scotland)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MILL GARAGE (DUNS) LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mill Garage (Duns) Limited for the year ended 31 March 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mill Garage (Duns) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mill Garage (Duns) Limited and state those matters that we have agreed to state to the Board of Directors of Mill Garage (Duns) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mill Garage (Duns) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mill Garage (Duns) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mill Garage (Duns) Limited. You consider that Mill Garage (Duns) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mill Garage (Duns) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


6 October 2023

MILL GARAGE (DUNS) LIMITED (REGISTERED NUMBER: SC311047)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,747 26,328
Tangible assets 5 15,138 17,210
34,885 43,538

CURRENT ASSETS
Stocks 99,657 96,844
Debtors 6 63,127 83,857
Cash at bank 119,265 115,596
282,049 296,297
CREDITORS
Amounts falling due within one year 7 227,934 262,115
NET CURRENT ASSETS 54,115 34,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,000

77,720

PROVISIONS FOR LIABILITIES 1,000 761
NET ASSETS 88,000 76,959

CAPITAL AND RESERVES
Called up share capital 900 900
Retained earnings 87,100 76,059
SHAREHOLDERS' FUNDS 88,000 76,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

MILL GARAGE (DUNS) LIMITED (REGISTERED NUMBER: SC311047)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:





M J Horne - Director


MILL GARAGE (DUNS) LIMITED (REGISTERED NUMBER: SC311047)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Mill Garage (Duns) Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009. This was originally amortised over 20 years straight line. This was amended in 2017 to 10 years straight line in line with FRS 102.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 25 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

MILL GARAGE (DUNS) LIMITED (REGISTERED NUMBER: SC311047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 101,250
AMORTISATION
At 1 April 2022 74,922
Amortisation for year 6,581
At 31 March 2023 81,503
NET BOOK VALUE
At 31 March 2023 19,747
At 31 March 2022 26,328

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 24,692 25,536 6,209 56,437
DEPRECIATION
At 1 April 2022 13,831 20,211 5,185 39,227
Charge for year 987 799 286 2,072
At 31 March 2023 14,818 21,010 5,471 41,299
NET BOOK VALUE
At 31 March 2023 9,874 4,526 738 15,138
At 31 March 2022 10,861 5,325 1,024 17,210

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 52,367 76,997
Amounts recoverable on contract 10,760 6,860
63,127 83,857

MILL GARAGE (DUNS) LIMITED (REGISTERED NUMBER: SC311047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 31,536 35,522
Taxation and social security 37,546 44,426
Other creditors 158,852 182,167
227,934 262,115

8. RELATED PARTY DISCLOSURES

During the year the company paid rent of £24,000 (2022 £24,000) in respect of land and buildings occupied by the company at Industrial Estate, Duns, the property being owned by the directors, Mr. S.F. Horne and Mr. M.J. Horne.