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Company Registration No. SC237854 (Scotland)
Milligan Transport Limited Unaudited accounts for the year ended 31 March 2026
Milligan Transport Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Milligan Transport Limited Company Information for the year ended 31 March 2026
Director
Greig Milligan
Company Number
SC237854 (Scotland)
Registered Office
Taigh Na Chraobhan Morar Mallaig Inverness-Shire PH40 4PD United Kingdom
Accountants
Ascent Accounting Ltd Studio 106 Embroidery Mill Seedhill Paisley PA1 1TJ
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Milligan Transport Limited Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
1,567,583
1,012,102
Current assets
Debtors
5
533,773
713,537
Cash at bank and in hand
299,396
335,314
833,169
1,048,851
Creditors: amounts falling due within one year
6
(157,186)
(102,674)
Net current assets
675,983
946,177
Total assets less current liabilities
2,243,566
1,958,279
Creditors: amounts falling due after more than one year
7
(260,677)
-
Net assets
1,982,889
1,958,279
Capital and reserves
Called up share capital
113,364
113,364
Profit and loss account
1,869,525
1,844,915
Shareholders' funds
1,982,889
1,958,279
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 May 2026 and were signed on its behalf by
Greig Milligan Director Company Registration No. SC237854
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Milligan Transport Limited Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
Milligan Transport Limited is a private company, limited by shares, registered in Scotland, registration number SC237854. The registered office is Taigh Na Chraobhan, Morar, Mallaig, Inverness-Shire, PH40 4PD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% Straight Line
Motor vehicles
25% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2025
1,173,408
246,688
1,420,096
Additions
655,000
-
655,000
At 31 March 2026
1,828,408
246,688
2,075,096
Depreciation
At 1 April 2025
338,419
69,575
407,994
Charge for the year
55,366
44,153
99,519
At 31 March 2026
393,785
113,728
507,513
Net book value
At 31 March 2026
1,434,623
132,960
1,567,583
At 31 March 2025
834,989
177,113
1,012,102
- 5 -
Milligan Transport Limited Notes to the Accounts for the year ended 31 March 2026
5
Debtors
2026
2025
£
£
Amounts falling due within one year
Trade debtors
84,569
234,333
Other debtors
-
30,000
84,569
264,333
Amounts falling due after more than one year
Other debtors
449,204
449,204
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
40,625
-
VAT
68,357
80,032
Trade creditors
38,077
5,405
Taxes and social security
9,800
8,126
Loans from directors
327
9,111
157,186
102,674
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
260,677
-
8
Average number of employees
During the year the average number of employees was 9 (2025: 9).
- 6 -