Registration number: NI014682

Clemhil Holdings Limited

trading as Milligan Oil

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 7

Clemhil Holdings Limited

trading as Milligan Oil

Company Information

Directors

Mrs Hilary Milligan Mr Clement Gerard Milligan

Company secretary

Mrs Hilary Milligan

Registered office

North Quay Ardglass Down BT30 7SD

Accountants

C.D. Diamond & Company Chartered Accountants & Registered Auditors46 Hill Street Belfast Co. Antrim BT1 2LB

Clemhil Holdings Limited

trading as Milligan Oil

(Registration number: NI014682)
Abridged Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	140,089	166,685
Other financial assets		-	318,616
		140,089	485,301
Current assets
Stocks	5	69,409	48,553
Debtors		140,998	208,903
Cash at bank and in hand		526,702	173,306
		737,109	430,762
Prepayments and accrued income		29,810	34,059
Creditors: Amounts falling due within one year		(223,974)	(257,956)
Net current assets		542,945	206,865
Total assets less current liabilities		683,034	692,166
Accruals and deferred income		(5,267)	(5,247)
Net assets		677,767	686,919
Capital and reserves
Called up share capital	6	2	2
Retained earnings		677,765	686,917
Shareholders' funds		677,767	686,919

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Clemhil Holdings Limited

trading as Milligan Oil

(Registration number: NI014682)
Abridged Balance Sheet as at 28 February 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 October 2025 and signed on its behalf by:
 

......................................... Mr Clement Gerard Milligan Director

Clemhil Holdings Limited

trading as Milligan Oil

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
North Quay
Ardglass
Down
BT30 7SD

These financial statements were authorised for issue by the Board on 14 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Clemhil Holdings Limited

trading as Milligan Oil

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Property	Straight line over 20 years
Fixtures and fittings	25% reducing balance
Motor vehicles	15% - 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Clemhil Holdings Limited

trading as Milligan Oil

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

Clemhil Holdings Limited

trading as Milligan Oil

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2024	64,925	101,058	229,850	395,833
At 28 February 2025	64,925	101,058	229,850	395,833
Depreciation
At 1 March 2024	64,925	87,180	77,043	229,148
Charge for the year	-	3,469	23,127	26,596
At 28 February 2025	64,925	90,649	100,170	255,744
Carrying amount
At 28 February 2025	-	10,409	129,680	140,089
At 29 February 2024	-	13,878	152,807	166,685

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	69,409	48,553

6	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2