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REGISTERED NUMBER: SC126477 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Millar International
Freight Transport Limited

Millar International
Freight Transport Limited (Registered number: SC126477)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Millar International
Freight Transport Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: G A Arnott





SECRETARY: Ms A J Pike





REGISTERED OFFICE: Unit 7A
Bandeath Industrial Estate
Throsk
Stirling
FK7 7NP





REGISTERED NUMBER: SC126477 (Scotland)





ACCOUNTANTS: James Gunn
Chartered Accountants
10 Duckburn Business Park
Dunblane
FK15 0EW

Millar International
Freight Transport Limited (Registered number: SC126477)

Balance Sheet
31 July 2024

31/7/24 31/7/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 379,844 448,665
Investment property 5 81,664 81,664
461,508 530,329

CURRENT ASSETS
Debtors 6 263,338 236,392
Cash at bank and in hand 208,163 227,359
471,501 463,751
CREDITORS
Amounts falling due within one year 7 209,260 164,900
NET CURRENT ASSETS 262,241 298,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

723,749

829,180

CREDITORS
Amounts falling due after more than one
year

8

(218,219

)

(290,530

)

PROVISIONS FOR LIABILITIES (72,170 ) (85,246 )
NET ASSETS 433,360 453,404

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 433,258 453,302
SHAREHOLDERS' FUNDS 433,360 453,404

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Millar International
Freight Transport Limited (Registered number: SC126477)

Balance Sheet - continued
31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2025 and were signed by:





G A Arnott - Director


Millar International
Freight Transport Limited (Registered number: SC126477)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Millar International Freight Transport 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention on the going concern basis. They are presented in sterling, which is the functional currency of the company.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires the directors to exercise their judgement in the application of the company's accounting policies. They do not consider that there are any matters arising in this regard that are so significant to the financial statements as to require separate disclosure.

The principal accounting policies applied in the preparation of these financial statements are set out below. They have been applied consistently to all years presented, unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. It is recognised when the company becomes entitled to it, normally on the rendering of an invoice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - in accordance with the lease
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Millar International
Freight Transport Limited (Registered number: SC126477)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors and creditors due within one year
Debtors, prepayments, creditors and provisions are recognised at the transaction value, after taking account of any discounts or impairments.

Cash and cash equivalents
Cash at bank and in hand includes cash, bank current accounts and bank deposits repayable without penalty on notice of not more than three months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

Millar International
Freight Transport Limited (Registered number: SC126477)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 72,593 978,241 1,050,834
Additions - 61,099 61,099
Disposals - (24,194 ) (24,194 )
At 31 July 2024 72,593 1,015,146 1,087,739
DEPRECIATION
At 1 August 2023 72,593 529,576 602,169
Charge for year - 126,853 126,853
Eliminated on disposal - (21,127 ) (21,127 )
At 31 July 2024 72,593 635,302 707,895
NET BOOK VALUE
At 31 July 2024 - 379,844 379,844
At 31 July 2023 - 448,665 448,665

All amounts shown under land and buildings relate to short leasehold property.


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 81,664
NET BOOK VALUE
At 31 July 2024 81,664
At 31 July 2023 81,664

The heritable investment property was acquired on 15 March 2017 for £81,000. The director considers this is the fair value of the property as at 31 July 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 226,562 209,147
Other debtors 36,776 27,245
263,338 236,392

Millar International
Freight Transport Limited (Registered number: SC126477)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Hire purchase contracts 113,360 103,307
Trade creditors 69,922 43,606
Taxation and social security 8,956 6,476
Other creditors 17,022 11,511
209,260 164,900

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/24 31/7/23
£    £   
Hire purchase contracts 218,219 290,530