IRIS Accounts Production v24.1.0.578 SC307866 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3078662022-10-31SC3078662023-10-31SC3078662022-11-012023-10-31SC3078662021-10-31SC3078662021-11-012022-10-31SC3078662022-10-31SC307866ns15:Scotland2022-11-012023-10-31SC307866ns14:PoundSterling2022-11-012023-10-31SC307866ns10:Director12022-11-012023-10-31SC307866ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC307866ns10:SmallEntities2022-11-012023-10-31SC307866ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31SC307866ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-31SC307866ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31SC307866ns10:FullAccounts2022-11-012023-10-31SC307866ns10:Director22022-11-012023-10-31SC307866ns10:CompanySecretary12022-11-012023-10-31SC307866ns10:RegisteredOffice2022-11-012023-10-31SC307866ns5:CurrentFinancialInstruments2023-10-31SC307866ns5:CurrentFinancialInstruments2022-10-31SC307866ns5:Non-currentFinancialInstruments2023-10-31SC307866ns5:Non-currentFinancialInstruments2022-10-31SC307866ns5:ShareCapital2023-10-31SC307866ns5:ShareCapital2022-10-31SC307866ns5:RetainedEarningsAccumulatedLosses2023-10-31SC307866ns5:RetainedEarningsAccumulatedLosses2022-10-31SC307866ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-11-012023-10-31SC307866ns5:PlantMachinery2022-11-012023-10-31SC307866ns5:MotorVehicles2022-11-012023-10-31SC307866ns5:ComputerEquipment2022-11-012023-10-31SC307866ns5:LandBuildings2022-10-31SC307866ns5:PlantMachinery2022-10-31SC307866ns5:MotorVehicles2022-10-31SC307866ns5:ComputerEquipment2022-10-31SC307866ns5:LandBuildings2022-11-012023-10-31SC307866ns5:LandBuildings2023-10-31SC307866ns5:PlantMachinery2023-10-31SC307866ns5:MotorVehicles2023-10-31SC307866ns5:ComputerEquipment2023-10-31SC307866ns5:LandBuildings2022-10-31SC307866ns5:PlantMachinery2022-10-31SC307866ns5:MotorVehicles2022-10-31SC307866ns5:ComputerEquipment2022-10-31SC307866ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31SC307866ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31
REGISTERED NUMBER: SC307866 (Scotland)












Financial Statements

for the Year Ended 31 October 2023

for

Mill Road Plant Limited

Mill Road Plant Limited (Registered number: SC307866)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mill Road Plant Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: J Doherty
Mrs A Doherty





SECRETARY: Mrs A Doherty





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC307866 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Mill Road Plant Limited (Registered number: SC307866)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 566,341 429,841

CURRENT ASSETS
Debtors 5 33,590 26,944
Cash at bank 365,223 241,829
398,813 268,773
CREDITORS
Amounts falling due within one year 6 895,176 337,711
NET CURRENT LIABILITIES (496,363 ) (68,938 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,978

360,903

CREDITORS
Amounts falling due after more than one
year

7

-

(11,667

)

PROVISIONS FOR LIABILITIES - (44,698 )
NET ASSETS 69,978 304,538

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 69,976 304,536
SHAREHOLDERS' FUNDS 69,978 304,538

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Road Plant Limited (Registered number: SC307866)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





J Doherty - Director


Mill Road Plant Limited (Registered number: SC307866)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Mill Road Plant 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the renting and leasing of trucks and other heavy vehicles, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

Mill Road Plant Limited (Registered number: SC307866)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 - 476,303 179,382 1,762 657,447
Additions 433,760 - 53,333 - 487,093
Disposals - (431,600 ) (65,937 ) - (497,537 )
At 31 October 2023 433,760 44,703 166,778 1,762 647,003
DEPRECIATION
At 1 November 2022 - 159,643 66,201 1,762 227,606
Charge for year - 1,934 20,795 - 22,729
Eliminated on disposal - (127,660 ) (42,013 ) - (169,673 )
At 31 October 2023 - 33,917 44,983 1,762 80,662
NET BOOK VALUE
At 31 October 2023 433,760 10,786 121,795 - 566,341
At 31 October 2022 - 316,660 113,181 - 429,841

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 18,878
Other debtors 33,590 8,066
33,590 26,944

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 10,000
Taxation and social security - 16,216
Other creditors 895,176 311,495
895,176 337,711

Mill Road Plant Limited (Registered number: SC307866)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 11,667