REGISTERED NUMBER: SC745151 (Scotland)

Financial Statements

for the Year Ended 31 December 2025

for

Mirren Travel Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G W Glen

REGISTERED OFFICE:

Moncrieff House

10 Moncrieff Street

Paisley

Renfrewshire

PA3 2BE

REGISTERED NUMBER:

SC745151 (Scotland)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Tangible assets

4

6,557

8,005

CURRENT ASSETS

Debtors

5

342,179

276,270

Cash at bank

111,729

147,247

453,908

423,517

CREDITORS

Amounts falling due within one year

6

199,898

175,501

NET CURRENT ASSETS

254,010

248,016

TOTAL ASSETS LESS CURRENT LIABILITIES

260,567

256,021

CREDITORS

Amounts falling due after more than one year

7

53,000

82,000

NET ASSETS

207,567

174,021

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

177,567

144,021

207,567

174,021

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 28 April 2026 and were signed by:

Mr G W Glen - Director

1.	STATUTORY INFORMATION

Mirren Travel Management Ltd 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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on 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.

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.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Debtors

The company has assigned its trade debts to a factor, RBS invoice discounting, and received payments from the factor in respect of the assigned debts but retained all significant risks. Trade debtors and amounts received from the factor were separately disclosed in debtors respectively. All interest and factoring costs were charged to income as they accrued.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

2,764

9,579

12,343

Additions

-

1,117

1,117

At 31 December 2025

2,764

10,696

13,460

DEPRECIATION

At 1 January 2025

1,057

3,281

4,338

Charge for year

552

2,013

2,565

At 31 December 2025

1,609

5,294

6,903

NET BOOK VALUE

At 31 December 2025

1,155

5,402

6,557

At 31 December 2024

1,707

6,298

8,005

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

331,760

257,888

Other debtors

1,305

3,305

VAT

3,243

3,116

Prepayments and accrued income

5,871

11,961

342,179

276,270

Included in trade debtors are factored debts amounting to £331,760 (2024: £257,888).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,011

1,584

Tax

8,586

32,063

Social security and other taxes

4,302

3,485

Other creditors

169,780

137,604

Deposits held

15,000

-

Accruals and deferred income

219

765

199,898

175,501

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Directors' loan accounts

53,000

82,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

5,170

-

Between one and five years

7,480

-

12,650

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

RBS Invoice Finance Ltd

61,828

70,896

The secured debt above relates to the factoring of sales invoices and is secured by a floating charge on the assets of the company.

10.	RELATED PARTY DISCLOSURES

Mr G W Glen

The Director has provided a personal guarantee of £25,000 (2024: £25,000) with RBS Invoice Finance Limited in relation to the invoice discounting debt.