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REGISTERED NUMBER: SC267227 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

R & L MILLER LIMITED

R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R & L MILLER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Robert James Miller
Agnes Lorna Miller



SECRETARY: Agnes Lorna Miller



REGISTERED OFFICE: Jameston Moss
Dalry
Ayrshire
KA24 4HB



REGISTERED NUMBER: SC267227 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG



BANKERS: Bank of Scotland
2 Brewlands Street
Galston
Ayrshire
KA4 8AQ

R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 641,780 664,621

CURRENT ASSETS
Stocks 6,660,378 6,535,088
Debtors 5 1,182,146 1,360,575
Cash in hand 1,714 8,819
7,844,238 7,904,482
CREDITORS
Amounts falling due within one year 6 2,366,415 2,505,339
NET CURRENT ASSETS 5,477,823 5,399,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,119,603

6,063,764

CREDITORS
Amounts falling due after more than one
year

7

(969,969

)

(1,303,689

)

PROVISIONS FOR LIABILITIES (147,482 ) (150,345 )
NET ASSETS 5,002,152 4,609,730

CAPITAL AND RESERVES
Called up share capital 9 1,002 1,002
Retained earnings 5,001,150 4,608,728
SHAREHOLDERS' FUNDS 5,002,152 4,609,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





Robert James Miller - Director


R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

R & L Miller Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Plant and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Fixed assets held under finance leases
Where assets are financed by leasing agreements, including hire purchase agreements, that give rights approximating to ownership ("finance leases") the assets are treated as if they had been purchased outright and the corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation on leased assets is charged to the profit and loss account on the same basis as shown above. Leasing payments are treated as consisting of capital and interest elements and the interest is charged to the profit and loss account.

All other leases are "operating leases" and the relevant annual rentals are charged wholly to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 June 2023 89,124 444,425 1,012,541 1,546,090
Additions 120,000 1,027 - 121,027
At 31 May 2024 209,124 445,452 1,012,541 1,667,117
DEPRECIATION
At 1 June 2023 30,813 285,646 565,010 881,469
Charge for year 7,998 23,987 111,883 143,868
At 31 May 2024 38,811 309,633 676,893 1,025,337
NET BOOK VALUE
At 31 May 2024 170,313 135,819 335,648 641,780
At 31 May 2023 58,311 158,779 447,531 664,621

The net book value of the company's fixed assets at 31 May 2024 included £12,192 of plant and machinery and £353,805 of motor vehicles held under hire purchase contracts (2023 £15,071 and £465,632 respectively).

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 712,764 876,367
Other debtors 4,382 4,208
717,146 880,575

R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 465,000 480,000

Aggregate amounts 1,182,146 1,360,575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 247,521 260,668
Hire purchase contracts 1,157,895 1,500,196
Trade creditors 533,504 450,168
Taxation and social security 190,331 99,460
Other creditors 237,164 194,847
2,366,415 2,505,339

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 672,663 1,021,065
Other creditors 297,306 282,624
969,969 1,303,689

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 247,521 260,668

The bank overdraft facilities are secured by an all monies debenture granted over the whole assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000
1 Ordinary 'A' £1 1 1
1 Ordinary 'B' £1 1 1
1,002 1,002

R & L MILLER LIMITED (REGISTERED NUMBER: SC267227)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.

Mr Robert James Miller and Mrs Agnes Lorna Miller exercise immediate and ultimate control by virtue of the fact that each holds almost 50% of the issued ordinary share capital.