REGISTERED NUMBER: SC267227 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

R & L MILLER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Robert James Miller

Agnes Lorna Miller

SECRETARY:

Agnes Lorna Miller

REGISTERED OFFICE:

Jameston Moss

Dalry

Ayrshire

KA24 4HB

REGISTERED NUMBER:

SC267227 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.

Chartered Accountants

24 Beresford Terrace

Ayr

KA7 2EG

BANKERS:

Bank of Scotland

2 Brewlands Street

Galston

Ayrshire

KA4 8AQ

FIXED ASSETS

Tangible assets

4

808,465

641,780

CURRENT ASSETS

Stocks

7,336,447

6,660,378

Debtors

5

1,532,019

1,182,146

Cash in hand

8,824

1,714

8,877,290

7,844,238

CREDITORS

Amounts falling due within one year

6

2,537,836

2,366,415

NET CURRENT ASSETS

6,339,454

5,477,823

TOTAL ASSETS LESS CURRENT LIABILITIES

7,147,919

6,119,603

CREDITORS

Amounts falling due after more than one year

7

(1,417,904

)

(969,969

)

PROVISIONS FOR LIABILITIES

(202,117

)

(147,482

)

NET ASSETS

5,527,898

5,002,152

CAPITAL AND RESERVES

Called up share capital

9

1,200

1,002

Retained earnings

5,526,698

5,001,150

SHAREHOLDERS' FUNDS

5,527,898

5,002,152

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

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

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 Board of Directors and authorised for issue on 12 January 2026 and were signed on its behalf by:

Robert James Miller - Director

1.	STATUTORY INFORMATION

R & L Miller 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

4% on cost

Plant and equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed assets held under finance leases

Where assets are financed by leasing agreements, including hire purchase agreements, that give rights approximating to ownership ("finance leases") the assets are treated as if they had been purchased outright and the corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation on leased assets is charged to the profit and loss account on the same basis as shown above. Leasing payments are treated as consisting of capital and interest elements and the interest is charged to the profit and loss account.

All other leases are "operating leases" and the relevant annual rentals are charged wholly to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

1,667,117

Additions

419,465

At 31 May 2025

2,086,582

DEPRECIATION

At 1 June 2024

1,025,337

Charge for year

426,282

Eliminated on disposal

(173,502

)

At 31 May 2025

1,278,117

NET BOOK VALUE

At 31 May 2025

808,465

At 31 May 2024

641,780

The net book value of the company's fixed assets at 31 May 2025 included £10,560 of plant and machinery and £211,123 of motor vehicles held under hire purchase contracts (2024 £12,424 and £361,468 respectively).

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,031,422

712,764

Other debtors

35,597

4,382

1,067,019

717,146

2025

2024

£

£

Amounts falling due after more than one year:

Other debtors

465,000

465,000

Aggregate amounts

1,532,019

1,182,146

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

71,139

247,521

Hire purchase contracts

1,245,743

1,157,895

Trade creditors

994,803

533,504

Taxation and social security

134,587

190,331

Other creditors

91,564

237,164

2,537,836

2,366,415

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

1,125,796

672,663

Other creditors

292,108

297,306

1,417,904

969,969

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

71,139

247,521

The bank overdraft facilities are secured by an all monies debenture granted over the whole assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

1

Ordinary 'A'

£1

100

1

1

Ordinary 'B'

£1

100

1

1,200

1,002

10.	ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.

Mr Robert James Miller and Mrs Agnes Lorna Miller exercise immediate and ultimate control by virtue of the fact that each holds almost 50% of the issued ordinary share capital.