Murphy Fleet & Plant Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11341288 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Murphy Fleet & Plant Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S C Murphy

Mr C Murphy

REGISTERED OFFICE:

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

BUSINESS ADDRESS:

First Floor

Unit 15

Manor Court

Scarborough

North Yorkshire

YO11 3TU

REGISTERED NUMBER:

11341288 (England and Wales)

ACCOUNTANTS:

Asquith & Co Accountants Limited

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

FIXED ASSETS

Tangible assets

4

458,045

331,816

CURRENT ASSETS

Debtors

5

207,235

102,097

Cash at bank

7,746

21,465

214,981

123,562

CREDITORS

Amounts falling due within one year

6

114,998

77,209

NET CURRENT ASSETS

99,983

46,353

TOTAL ASSETS LESS CURRENT LIABILITIES

558,028

378,169

CREDITORS

Amounts falling due after more than one year

7

(131,095

)

(126,250

)

PROVISIONS FOR LIABILITIES

(80,283

)

(63,045

)

NET ASSETS

346,650

188,874

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

346,550

188,774

346,650

188,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 8 August 2022 and were signed on its behalf by:

Mr S C Murphy - Director

Mr C Murphy - Director

1.	STATUTORY INFORMATION

Murphy Fleet & Plant Services Ltd is a private company, limited by shares , registered in England and Wales. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

15% on reducing balance, 10% on reducing balance and 5% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2021

378,205

Additions

182,468

Disposals

(31,250

)

At 31 May 2022

529,423

DEPRECIATION

At 1 June 2021

46,389

Charge for year

29,086

Eliminated on disposal

(4,097

)

At 31 May 2022

71,378

NET BOOK VALUE

At 31 May 2022

458,045

At 31 May 2021

331,816

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 June 2021

239,688

Additions

154,024

Disposals

(26,950

)

At 31 May 2022

366,762

DEPRECIATION

At 1 June 2021

27,020

Charge for year

10,951

Eliminated on disposal

(3,590

)

At 31 May 2022

34,381

NET BOOK VALUE

At 31 May 2022

332,381

At 31 May 2021

212,668

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

-

29,470

Other debtors

207,235

72,627

207,235

102,097

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Hire purchase contracts

86,130

73,440

Trade creditors

4,537

-

Taxation and social security

16,005

2,669

Other creditors

8,326

1,100

114,998

77,209

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Hire purchase contracts

131,095

126,250

8.	RELATED PARTY DISCLOSURES

During the year the company loaned monies to Murphy Utilities Limited. The amount owed from the company at the year end date was £202,970 (2021: £62,000). The loans are repayable on demand and interest free. Additionally, during the year the company invoiced for services to Murphy Utilities Limited totalling £236,115.

During the year the company loaned monies to Murphy Holdings (Scarborough) Limited. The amount owed from the company at the year end date was £2,640 (2021: NIL). The loans are repayable on demand and interest free.