Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Alexander William Adam 27/03/2014 Michael Lee 10/06/2022 27 August 2024 The principal activity of the Company continued to be that of the construction of commercial buildings. SC473721 2024-03-31 SC473721 bus:Director1 2024-03-31 SC473721 bus:Director2 2024-03-31 SC473721 2023-03-31 SC473721 core:CurrentFinancialInstruments 2024-03-31 SC473721 core:CurrentFinancialInstruments 2023-03-31 SC473721 core:ShareCapital 2024-03-31 SC473721 core:ShareCapital 2023-03-31 SC473721 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC473721 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC473721 bus:OrdinaryShareClass1 2024-03-31 SC473721 2023-04-01 2024-03-31 SC473721 bus:FilletedAccounts 2023-04-01 2024-03-31 SC473721 bus:SmallEntities 2023-04-01 2024-03-31 SC473721 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC473721 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC473721 bus:Director1 2023-04-01 2024-03-31 SC473721 bus:Director2 2023-04-01 2024-03-31 SC473721 2022-04-01 2023-03-31 SC473721 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC473721 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC473721 (Scotland)

MILLHOUSE DEVELOPMENTS (INVERURIE) LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

MILLHOUSE DEVELOPMENTS (INVERURIE) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

MILLHOUSE DEVELOPMENTS (INVERURIE) LTD

BALANCE SHEET

AS AT 31 MARCH 2024
MILLHOUSE DEVELOPMENTS (INVERURIE) LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
2024 2023
£ £
Current assets
Stocks 451,276 451,276
Cash at bank and in hand 24,432 25,653
475,708 476,929
Creditors: amounts falling due within one year 3 ( 486,492) ( 486,492)
Net current liabilities (10,784) (9,563)
Total assets less current liabilities (10,784) (9,563)
Net liabilities ( 10,784) ( 9,563)
Capital and reserves
Called-up share capital 4 600 600
Profit and loss account ( 11,384 ) ( 10,163 )
Total shareholders' deficit ( 10,784) ( 9,563)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Millhouse Developments (Inverurie) Ltd (registered number: SC473721) were approved and authorised for issue by the Board of Directors on 27 August 2024. They were signed on its behalf by:

Alexander William Adam
Director
MILLHOUSE DEVELOPMENTS (INVERURIE) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
MILLHOUSE DEVELOPMENTS (INVERURIE) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Millhouse Developments (Inverurie) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 10 Southfield Drive, Elgin, IV30 6GR, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Although the financial statements have net current liabilities of £10,784 (2022 - £9,563) they have been prepared on the going concern basis as the directors consider it appropriate to do so. In coming to this conclusion the directors have agreed to financially support the company to ensure that all liabilities are met as they fall due. Additionally the directors will not seek repayment for amounts due to them until there are sufficient cash resources to do so. The directors are therefore of the opinion that the Financial statements should be prepared on the going concern basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overhead that have been incurred in bringing the stocks to their present location and condition.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and bank deposits held at call.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all it's financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 486,492 486,492

4. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
600 Ordinary shares of £ 1.00 each 600 600

5. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Key Management Personnel 480,107 480,107

Other related party transactions

2024 2023
£ £
Company Under Common Control 5,085 5,085

A loan from a company under common control made to Millhouse Developments (Inverurie) Ltd in the year to March 2020. This balance is interest free and has no fixed terms of repayment.