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REGISTERED NUMBER: SC341212 (Scotland)















Keith Milne Tiling Limited

Financial Statements For The Year Ended 31 May 2024






Keith Milne Tiling Limited (Registered number: SC341212)






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

Chartered Accountants' Report 7

Keith Milne Tiling Limited

Company Information
For The Year Ended 31 May 2024







DIRECTOR: K Milne





REGISTERED OFFICE: Park House Centre
South Street
Elgin
IV30 1JB





REGISTERED NUMBER: SC341212 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Keith Milne Tiling Limited (Registered number: SC341212)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,249 18,998
14,249 18,998

CURRENT ASSETS
Debtors 6 176,841 186,269
Cash at bank 274,524 236,394
451,365 422,663
CREDITORS
Amounts falling due within one year 7 29,195 20,282
NET CURRENT ASSETS 422,170 402,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,419

421,379

PROVISIONS FOR LIABILITIES 8 3,225 3,708
NET ASSETS 433,194 417,671

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 433,094 417,571
SHAREHOLDERS' FUNDS 433,194 417,671

Keith Milne Tiling Limited (Registered number: SC341212)

Balance Sheet - continued
31 May 2024


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 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.

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 director and authorised for issue on 12 February 2025 and were signed by:





K Milne - Director


Keith Milne Tiling Limited (Registered number: SC341212)

Notes to the Financial Statements
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

Keith Milne Tiling 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.

Goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2008. After initially being amortised evenly over its initial estimated useful life of twenty years, the remainder (since 1 June 2016) is now being amortised evenly over its remaining estimated useul life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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.

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.

Keith Milne Tiling Limited (Registered number: SC341212)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 15,000
AMORTISATION
At 1 June 2023
and 31 May 2024 15,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 June 2023
and 31 May 2024 45,698
DEPRECIATION
At 1 June 2023 26,700
Charge for year 4,749
At 31 May 2024 31,449
NET BOOK VALUE
At 31 May 2024 14,249
At 31 May 2023 18,998

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 20,753 508
Other debtors 156,088 185,761
176,841 186,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 2,153 292
Taxation and social security 25,264 18,845
Other creditors 1,778 1,145
29,195 20,282

Keith Milne Tiling Limited (Registered number: SC341212)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

8. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 3,225 3,708

Deferred
tax
£   
Balance at 1 June 2023 3,708
Provided during year (483 )
Balance at 31 May 2024 3,225

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 June 2023 417,571
Profit for the year 69,707
Dividends (54,184 )
At 31 May 2024 433,094

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £54,184 (2023 - £35,604) were paid to the director .

K Milne
is a director in the company.


Included in other debtors is an interest free directors loan. No repayment terms have been agreed.

31.5.24 31.5.23
£    £   
Amount due from related party at the balance sheet date 107,683 137,684

12. ULTIMATE CONTROLLING PARTY

The controlling party is K Milne.

The ultimate controlling party is K Milne.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Keith Milne Tiling Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keith Milne Tiling Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Keith Milne Tiling Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Keith Milne Tiling Limited and state those matters that we have agreed to state to the director of Keith Milne Tiling Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keith Milne Tiling Limited and its director for our work or for this report.

It is your duty to ensure that Keith Milne Tiling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Keith Milne Tiling Limited. You consider that Keith Milne Tiling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Keith Milne Tiling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


12 February 2025