Registration number: SC491183

Michael Combe Haulage Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Unaudited Financial Statements	5 to 9

Michael Combe Haulage Limited

Company Information

Director

Mr Michael Combe

Registered office

1 Acremore Drive Kinross KY13 8RD

Accountants

TC Group Chartered Accountants3 High Street Kinross KY13 8AW

Michael Combe Haulage Limited

(Registration number: SC491183)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed Assets
Tangible Assets	4	179,326	115,076
Current assets
Debtors	5	7,494	21,713
Cash at bank and in hand		47,885	10,025
		55,379	31,738
Creditors: Amounts falling due within one year	6	(78,682)	(42,385)
Net current liabilities		(23,303)	(10,647)
Total assets less current liabilities		156,023	104,429
Creditors: Amounts falling due after more than one year	6	(107,975)	(71,393)
Provisions for liabilities		(44,832)	-
Net assets		3,216	33,036
Capital and reserves
Called up share capital	7	100	100
Retained earnings		3,116	32,936
Shareholders' funds		3,216	33,036

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 August 2026
 

Michael Combe Haulage Limited

(Registration number: SC491183)
Balance Sheet as at 30 November 2025

......................................... Mr Michael Combe Director

Michael Combe Haulage Limited

Statement of Changes in Equity for the Year Ended 30 November 2025

	Share capital £	Profit and loss account £	Total £
At 1 December 2024	100	32,936	33,036
Profit for the year	-	1,180	1,180
Total comprehensive income	-	1,180	1,180
Dividends	-	(31,000)	(31,000)
At 30 November 2025	100	3,116	3,216

	Share capital £	Retained earnings £	Total £
At 1 December 2023	100	45,389	45,489
Profit for the year	-	23,547	23,547
Dividends	-	(36,000)	(36,000)
At 30 November 2024	100	32,936	33,036

Michael Combe Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The address of its registered office is:
1 Acremore Drive
Kinross
KY13 8RD

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Michael Combe Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & machinery	over 6 years
Equipment	15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Michael Combe Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Michael Combe Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4	Tangible Assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 December 2024	374	230,165	230,539
Additions	1,385	168,000	169,385
Disposals	-	(145,000)	(145,000)
At 30 November 2025	1,759	253,165	254,924
Depreciation
At 1 December 2024	374	115,089	115,463
Charge for the year	208	42,094	42,302
Eliminated on disposal	-	(82,167)	(82,167)
At 30 November 2025	582	75,016	75,598
Carrying amount
At 30 November 2025	1,177	178,149	179,326
At 30 November 2024	-	115,076	115,076

5

Debtors

Current	2025 £	2024 £
Trade debtors	-	21,713
Other debtors	7,494	-
	7,494	21,713

6

Creditors

Creditors: amounts falling due within one year

Michael Combe Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts		75,382	28,073
Trade creditors		1,478	1,752
Taxation and social security		-	6,649
Accruals and deferred income		1,747	-
Other creditors		75	5,911
		78,682	42,385

Current loans and borrowings

	2025 £	2024 £
HP and finance lease liabilities	69,312	27,533
Other borrowings	6,070	540
	75,382	28,073

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		107,975	71,393

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100