2022-12-012023-11-302023-11-30falseSC047306THOMAS MUIR (HAULAGE) 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THOMAS MUIR (HAULAGE) LIMITED

Registered Number
SC047306
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

THOMAS MUIR (HAULAGE) LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Thomas Muir
George Muir

Company Secretary

George Muir

Registered Address

Den Road
Kirkcaldy
Fife
KY1 2ER

Registered Number

SC047306 (Scotland)
THOMAS MUIR (HAULAGE) LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3354,197352,796
354,197352,796
Current assets
Stocks8,2078,184
Debtors4156,722259,291
164,929267,475
Creditors amounts falling due within one year5(1,646,993)(1,700,400)
Net current assets (liabilities)(1,482,064)(1,432,925)
Total assets less current liabilities(1,127,867)(1,080,129)
Creditors amounts falling due after one year6(20,833)(30,833)
Provisions for liabilities(42,422)(42,156)
Net assets(1,191,122)(1,153,118)
Capital and reserves
Called up share capital400400
Revaluation reserve163,242163,242
Profit and loss account(1,354,764)(1,316,760)
Shareholders' funds(1,191,122)(1,153,118)
The financial statements were approved and authorised for issue by the Board of Directors on 28 August 2024, and are signed on its behalf by:
Thomas Muir
Director
Registered Company No. SC047306
THOMAS MUIR (HAULAGE) LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
These financial statements have been prepared on a going concern basis despite the net liability position. The directors of Thomas Muir (Metals) Limited and Muir (Metals & Haulage Holdings) Limited have guaranteed their continued support and have confirmed they will not withdraw their loan accounts to the detriment of any other creditor. The bank borrowings of Thomas Muir (Haulage) Limited are secured by an unlimited guarantee from both these companies. Therefore it is appropriate to prepare these financial statements on a going concern basis.
Turnover policy
Turnover represents amounts receivable during the year, exclusive of value added tax.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current 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 assest 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Freehold Property - 2% on cost Plant & Machinery - 20% reducing balance, 20% on cost, 16.67% on cost, 10% on cost.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises all direct expenditure incurred in bringing stock to it's current condition and location.
2.Average number of employees

20232022
Average number of employees during the year34
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 December 22501,15139,027540,178
Additions14,400-14,400
At 30 November 23515,55139,027554,578
Depreciation and impairment
At 01 December 22151,24136,141187,382
Charge for year12,42257712,999
At 30 November 23163,66336,718200,381
Net book value
At 30 November 23351,8882,309354,197
At 30 November 22349,9102,886352,796
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables111,071216,039
Amounts owed by group undertakings40,09840,098
Other debtors1,150-
Prepayments and accrued income4,4033,154
Total156,722259,291
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables38,53159,564
Bank borrowings and overdrafts203,65277,854
Taxation and social security10,82218,718
Other creditors1,391,4201,541,695
Accrued liabilities and deferred income2,5682,569
Total1,646,9931,700,400
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts20,83330,833
Total20,83330,833