1 April 2023 false No description of principal activity Taxfiler 2024.5 SC237854business:PrivateLimitedCompanyLtd2023-04-012024-03-31 SC2378542023-03-31 SC2378542023-04-012024-03-31 SC237854business:AuditExemptWithAccountantsReport2023-04-012024-03-31 SC237854business:FilletedAccounts2023-04-012024-03-31 SC2378542024-03-31 SC237854business:Director12023-04-012024-03-31 SC237854business:RegisteredOffice2023-04-012024-03-31 SC2378542023-03-31 SC237854core:WithinOneYear2024-03-31 SC237854core:WithinOneYear2023-03-31 SC237854core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 SC237854core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC237854core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 SC237854core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC237854core:PreviouslyStatedAmount2024-03-31 SC237854core:PreviouslyStatedAmount2023-03-31 SC237854business:SmallEntities2023-04-012024-03-31 SC237854countries:Scotland2023-04-012024-03-31 SC237854core:PlantMachinery2023-04-012024-03-31 SC237854core:MotorVehicles2023-04-012024-03-31 SC237854core:PlantMachinery2023-03-31 SC237854core:MotorVehicles2023-03-31 SC237854core:PlantMachinery2024-03-31 SC237854core:MotorVehicles2024-03-31 SC237854core:AfterOneYear2024-03-31 SC237854core:AfterOneYear2023-03-31 SC2378542022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC237854 (Scotland)
Milligan Transport Limited Unaudited accounts for the year ended 31 March 2024
Milligan Transport Limited Unaudited accounts Contents
Page
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Milligan Transport Limited Company Information for the year ended 31 March 2024
Director
Greig Milligan
Company Number
SC237854 (Scotland)
Registered Office
2 Earlsgate Crosslee Renfrewshire PA6 7FB Scotland
Accountants
Ascent Accounting Ltd Clyde Offices 2nd Floor 48 West George Street Glasgow G2 1BP
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Milligan Transport Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
494,885 
323,397 
Current assets
Debtors
765,791 
277,333 
Cash at bank and in hand
472,963 
673,106 
1,238,754 
950,439 
Creditors: amounts falling due within one year
(116,506)
121,583 
Net current assets
1,122,248 
1,072,022 
Net assets
1,617,133 
1,395,419 
Capital and reserves
Called up share capital
113,364 
113,364 
Profit and loss account
1,503,769 
1,282,055 
Shareholders' funds
1,617,133 
1,395,419 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 September 2024 and were signed on its behalf by
Greig Milligan Director Company Registration No. SC237854
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Milligan Transport Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Milligan Transport Limited is a private company, limited by shares, registered in Scotland, registration number SC237854. The registered office is 2 Earlsgate, Crosslee, Renfrewshire, PA6 7FB, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% Straight Line
Motor vehicles
25% Reducing Balance
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Milligan Transport Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
486,878 
334,531 
821,409 
Additions
- 
305,708 
305,708 
Disposals
- 
(199,750)
(199,750)
At 31 March 2024
486,878 
440,489 
927,367 
Depreciation
At 1 April 2023
289,731 
208,281 
498,012 
Charge for the year
24,344 
39,001 
63,345 
On disposals
- 
(128,875)
(128,875)
At 31 March 2024
314,075 
118,407 
432,482 
Net book value
At 31 March 2024
172,803 
322,082 
494,885 
At 31 March 2023
197,147 
126,250 
323,397 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
186,587 
192,333 
Other debtors
130,000 
85,000 
316,587 
277,333 
Amounts falling due after more than one year
Other debtors
449,204 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
50,798 
72,150 
Trade creditors
5,189 
7,737 
Taxes and social security
26,570 
173,470 
Loans from directors
33,949 
(374,940)
116,506 
(121,583)
7
Average number of employees
During the year the average number of employees was 9 (2023: 8).
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