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REGISTERED NUMBER: SC380021 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Brian Milne Driving School Ltd.

Brian Milne Driving School Ltd. (Registered number: SC380021)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brian Milne Driving School Ltd.

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr B A Milne





REGISTERED OFFICE: 9 Mill Park
Stuartfield
Peterhead
Aberdeenshire
AB42 5HF





REGISTERED NUMBER: SC380021 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

Brian Milne Driving School Ltd. (Registered number: SC380021)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,410 7,213

CURRENT ASSETS
Debtors 5 433 345
Cash at bank 11,070 11,978
11,503 12,323
CREDITORS
Amounts falling due within one year 6 7,372 7,967
NET CURRENT ASSETS 4,131 4,356
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,541

11,569

PROVISIONS FOR LIABILITIES 1,028 1,370
NET ASSETS 8,513 10,199

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 8,503 10,189
SHAREHOLDERS' FUNDS 8,513 10,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Brian Milne Driving School Ltd. (Registered number: SC380021)

Balance Sheet - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





Mr B A Milne - Director


Brian Milne Driving School Ltd. (Registered number: SC380021)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Brian Milne Driving School Ltd. 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.

Turnover
Turnover represents fees collected and due for driving tuition services provided, net of franchise commissions and charges. Income is recognised when the company becomes legally entitled to receive it and when its value can be ascertained with sufficient degree of certainty. The company is not registered for VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer & other equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.
The computer equipment is fully written down so no depreciation charge was required for the current financial year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Brian Milne Driving School Ltd. (Registered number: SC380021)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
Motor & other
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 18,777 325 19,102
DEPRECIATION
At 1 July 2023 11,564 325 11,889
Charge for year 1,803 - 1,803
At 30 June 2024 13,367 325 13,692
NET BOOK VALUE
At 30 June 2024 5,410 - 5,410
At 30 June 2023 7,213 - 7,213

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 18,777
Transfer to ownership (18,777 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 11,564
Transfer to ownership (11,564 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 7,213

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 433 345

Brian Milne Driving School Ltd. (Registered number: SC380021)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 1,636 2,772
Other creditors 5,736 5,195
7,372 7,967

7. RELATED PARTY DISCLOSURES

The Director operates a current account with the company and as at 30 June 2024 the balance owing to him was £4,567.02 (2023 - £4,058.70). There are no specific terms of repayment and no interest is accrued.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr B A Milne.