Company registration number SC687821 (Scotland)
MILLER PLANT HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MILLER PLANT HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
MILLER PLANT HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,207,220
2,225,309
Investment property
5
696,117
696,117
Investments
6
5,640,706
5,640,706
8,544,043
8,562,132
Current assets
Debtors
8
1,533,288
1,261,557
Cash at bank and in hand
2,366
251,880
1,535,654
1,513,437
Creditors: amounts falling due within one year
9
(3,972,471)
(4,338,292)
Net current liabilities
(2,436,817)
(2,824,855)
Total assets less current liabilities
6,107,226
5,737,277
Creditors: amounts falling due after more than one year
10
(264,587)
-
0
Net assets
5,842,639
5,737,277
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
5,639,705
5,639,705
Profit and loss reserves
201,934
96,572
Total equity
5,842,639
5,737,277

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MILLER PLANT HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 October 2025 and are signed on its behalf by:
I Miller
A Miller
Director
Director
Company Registration No. SC687821
MILLER PLANT HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
1,000
5,639,705
64,688
5,705,393
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
36,884
36,884
Dividends
-
-
(5,000)
(5,000)
Balance at 31 December 2023
1,000
5,639,705
96,572
5,737,277
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
107,862
107,862
Dividends
-
-
(2,500)
(2,500)
Balance at 31 December 2024
1,000
5,639,705
201,934
5,842,639
MILLER PLANT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Miller Plant Holdings Limited is a private company limited by shares incorporated in Scotland. The registered office is Suite A, 1 Albyn Place, Aberdeen, United Kingdom, AB10 1BR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land
Reviewed annually
Buildings
5% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

MILLER PLANT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

MILLER PLANT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.11
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Revaluation of properties

Property valuations are carried out by the directors, basing the valuation of the market value of the property where a degree of judgement is required in establishing the values.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
MILLER PLANT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024
2,388,878
Additions
11,276
At 31 December 2024
2,400,154
Depreciation and impairment
At 1 January 2024
163,569
Depreciation charged in the year
29,365
At 31 December 2024
192,934
Carrying amount
At 31 December 2024
2,207,220
At 31 December 2023
2,225,309

In respect of all property, Virgin Money hold a fixed and floating charge over the assets of the company

5
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
696,117

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
5,640,706
5,640,706
7
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Miller Plant Limited
Suite A, Ground Floor, 9 Queens Road Aberdeen, AB15 4YL
Ordinary shares
100.00
Miller Farms Limited
Suite A, Ground Floor, 9 Queens Road Aberdeen, AB15 4YL
Ordinary shares
100.00
MILLER PLANT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,406,832
1,231,440
Other debtors
126,456
30,117
1,533,288
1,261,557

The amounts owed by group undertakings is unsecured, interest free and repayable on demand.

9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
21,033
565,433
Trade creditors
8,717
23,301
Amounts owed to group undertakings
3,932,372
3,730,777
Other creditors
10,349
18,781
3,972,471
4,338,292

In respect of all bank loans and overdrafts, Virgin Money hold a fixed and floating charge over the assets of the company.

The amounts owed to group undertakings is unsecured, interest free and repayable on demand.

10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
264,587
-
0

In respect of all bank loans and overdrafts, Virgin Money hold a fixed and floating charge over the assets of the company.

MILLER PLANT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
11
Directors' transactions

Dividends totalling £2,500 were paid in the year in respect of shares held by the company's directors.

During the period the directors entered into the following advances and credits with the company:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors Loan Account
-
(569)
129,777
(6,932)
122,276
(569)
129,777
(6,932)
122,276
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