REGISTERED NUMBER: SC181790 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

J H MILNE (PETERHEAD) LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr J H Milne

Mr R Milne

SECRETARY:

Mr R Milne

REGISTERED OFFICE:

3 Keith Street

Peterhead

Aberdeenshire

AB42 1BP

REGISTERED NUMBER:

SC181790 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

BANKERS:

Bank of Scotland plc

32 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

FIXED ASSETS

Intangible assets

4

54,083

54,083

Tangible assets

5

196,540

235,090

Investment property

6

555,113

341,336

805,736

630,509

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

7

191,667

250,637

Cash at bank and in hand

283,800

273,847

480,467

529,484

CREDITORS

Amounts falling due within one year

8

462,129

401,744

NET CURRENT ASSETS

18,338

127,740

TOTAL ASSETS LESS CURRENT LIABILITIES

824,074

758,249

PROVISIONS FOR LIABILITIES

25,345

34,397

NET ASSETS

798,729

723,852

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

798,629

723,752

SHAREHOLDERS' FUNDS

798,729

723,852

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 29 May 2026 and were signed on its behalf by:

Mr J H Milne - Director

Mr R Milne - Director

1.	STATUTORY INFORMATION

J H Milne (Peterhead) 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 represents the company's profit share from the fish processing partnership.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2024 - 38 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 September 2024

and 31 August 2025

54,083

6,633

60,716

AMORTISATION

At 1 September 2024

and 31 August 2025

-

6,633

6,633

NET BOOK VALUE

At 31 August 2025

54,083

-

54,083

At 31 August 2024

54,083

-

54,083

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2024

117,001

364,537

481,538

Additions

-

15,921

15,921

Disposals

-

(25,545

)

(25,545

)

At 31 August 2025

117,001

354,913

471,914

DEPRECIATION

At 1 September 2024

19,501

226,947

246,448

Charge for year

2,340

34,461

36,801

Eliminated on disposal

-

(7,875

)

(7,875

)

At 31 August 2025

21,841

253,533

275,374

NET BOOK VALUE

At 31 August 2025

95,160

101,380

196,540

At 31 August 2024

97,500

137,590

235,090

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

341,336

Additions

213,777

At 31 August 2025

555,113

NET BOOK VALUE

At 31 August 2025

555,113

At 31 August 2024

341,336

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

56,715

73,719

Other debtors

134,952

176,918

191,667

250,637

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

50,120

59,345

Hire purchase contracts

10,971

35,233

Trade creditors

150,887

41,280

Taxation

45,615

36,080

Social security and other taxes

16,880

13,413

Other creditors

7,813

6,079

Bounce Back Loan

8,334

18,333

Directors' current accounts

105,132

58,471

Accruals

66,377

133,510

462,129

401,744

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 August 2025 and 31 August 2024:

2025

2024

£

£

Mr J H Milne and Mr R Milne

Balance outstanding at start of year

58,471

93,439

Amounts advanced

46,661

-

Amounts repaid

-

(34,968

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

105,132

58,471

The loans are interest free and there are no fixed terms of repayment.

10.	ULTIMATE CONTROLLING PARTY

Mr J H Milne together with members of his close family control the company by virtue of 100% ownership of the issued share capital.