REGISTERED NUMBER: SC280648 (Scotland)

Milne Holdings Limited

Financial Statements For The Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S G Milne

SECRETARY:

Grigor & Young LLP

REGISTERED OFFICE:

20 Glen Elgin Drive

Elgin

Moray

IV30 6JH

REGISTERED NUMBER:

SC280648 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Bank of Scotland

90 High Street

Elgin

Moray

IV30 1BJ

FIXED ASSETS

Investments

4

252,006

252,006

CURRENT ASSETS

Cash at bank

2,303

1,323

CREDITORS

Amounts falling due within one year

5

208,345

209,265

NET CURRENT LIABILITIES

(206,042

)

(207,942

)

TOTAL ASSETS LESS CURRENT LIABILITIES

45,964

44,064

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

45,864

43,964

SHAREHOLDERS' FUNDS

45,964

44,064

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 29 September 2025 and were signed by:

Mr S G Milne - Director

1.	STATUTORY INFORMATION

Milne Holdings 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.

Preparation of consolidated financial statements

The financial statements contain information about Milne Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

undertakings

£

COST

At 1 January 2024

and 31 December 2024

252,006

NET BOOK VALUE

At 31 December 2024

252,006

At 31 December 2023

252,006

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Milne Elgin Ltd

Registered office: 20 Glen Elgin Drive, Elgin, Moray IV30 6JH

Nature of business: Consultant to the motor trade.

%

Class of shares:

holding

Ordinary

100.00

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

208,345

209,265

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

1

100

100

7.

RESERVES

Retained

earnings

£

At 1 January 2024

43,964

Profit for the year

19,900

Dividends

(18,000

)

At 31 December 2024

45,864

8.	OTHER FINANCIAL COMMITMENTS

The company has given a cross guarantee to The Bank Of Scotland plc in respect of the borrowings of Milne Elgin Limited. At 31 December 2024 borrowings covered by the guarantee amounted to £Nil (2023 - £Nil)

9.	RELATED PARTY DISCLOSURES

At 31 December 2023 and 31 December 2024, the company owed £169,566 to Milne Elgin Ltd, its subsidiary company. This loan is interest free and has no fixed terms of repayment.

At 31 December 2023 and 31 December 2024 the company owed the director £38,029. This loan is interest free and has no fixed terms of repayment.