Company Registration No. SC237854 (Scotland)
Milligan Transport Limited
Unaudited accounts
for the year ended 31 March 2024
Milligan Transport Limited
Unaudited accounts
Contents
Milligan Transport Limited
Company Information
for the year ended 31 March 2024
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
Milligan Transport Limited
Statement of financial position
as at 31 March 2024
Tangible assets
494,885
323,397
Cash at bank and in hand
472,963
673,106
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
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
Milligan Transport Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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
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
At 31 March 2024
172,803
322,082
494,885
At 31 March 2023
197,147
126,250
323,397
Amounts falling due within one year
Trade debtors
186,587
192,333
Other debtors
130,000
85,000
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
5,189
7,737
Taxes and social security
26,570
173,470
Loans from directors
33,949
(374,940)
7
Average number of employees
During the year the average number of employees was 9 (2023: 8).