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REGISTERED NUMBER: SC539677 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Ian J Milne Limited

Ian J Milne Limited (Registered number: SC539677)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ian J Milne Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: I J Milne
A N Milne





REGISTERED OFFICE: Cocklaw Mains
Peterhead
Aberdeenshire
AB42 3JU





REGISTERED NUMBER: SC539677 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Ian J Milne Limited (Registered number: SC539677)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,593 1,957

CURRENT ASSETS
Stocks 938 1,113
Debtors 5 22,026 12,774
Cash at bank 68,953 54,839
91,917 68,726
CREDITORS
Amounts falling due within one year 6 14,707 9,808
NET CURRENT ASSETS 77,210 58,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,803

60,875

PROVISIONS FOR LIABILITIES 303 372
NET ASSETS 78,500 60,503

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 78,400 60,403
SHAREHOLDERS' FUNDS 78,500 60,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Ian J Milne Limited (Registered number: SC539677)

Balance Sheet - continued
31 March 2025


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 Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





I J Milne - Director


Ian J Milne Limited (Registered number: SC539677)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Ian J Milne 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 represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer 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.

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 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

Ian J Milne Limited (Registered number: SC539677)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 13,343 199 17,235 1,472 32,249
Additions 794 - - - 794
At 31 March 2025 14,137 199 17,235 1,472 33,043
DEPRECIATION
At 1 April 2024 11,635 40 17,235 1,382 30,292
Charge for year 1,038 32 - 88 1,158
At 31 March 2025 12,673 72 17,235 1,470 31,450
NET BOOK VALUE
At 31 March 2025 1,464 127 - 2 1,593
At 31 March 2024 1,708 159 - 90 1,957

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 11,870 7,358
Amounts recoverable on contract 8,926 4,221
Other debtors 1,230 1,195
22,026 12,774

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Taxation and social security 12,187 7,610
Other creditors 2,520 2,198
14,707 9,808