Jim Murphy Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC113185 (Scotland)

Abridged Unaudited Financial Statements for the Year Ended 31 December 2020

for

Jim Murphy Engineering Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Murphy

Mrs L Murphy

SECRETARY:

Mrs L Murphy

REGISTERED OFFICE:

13/15 Strathmore House

Town Centre

East Kilbride

GLASGOW

G74 1LF

REGISTERED NUMBER:

SC113185 (Scotland)

ACCOUNTANTS:

RAEBURN ALLISON & CO

CHARTERED ACCOUNTANTS

13/15 STRATHMORE HOUSE

TOWN CENTRE

EAST KILBRIDE

GLASGOW

G74 1LF

FIXED ASSETS

Tangible assets

4

5,650

-

CURRENT ASSETS

Stocks

33,074

29,549

Debtors

-

(602

)

Cash at bank and in hand

32,233

8,189

65,307

37,136

CREDITORS

Amounts falling due within one year

35,309

23,901

NET CURRENT ASSETS

29,998

13,235

TOTAL ASSETS LESS CURRENT LIABILITIES

35,648

13,235

CREDITORS

Amounts falling due after more than one year

5

17,667

-

NET ASSETS

17,981

13,235

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

17,881

13,135

SHAREHOLDERS' FUNDS

17,981

13,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2021 and were signed on its behalf by:

J Murphy - Director

1.	STATUTORY INFORMATION

Jim Murphy Engineering 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 revenue recognised in the accounts. Revenue is recognised when the company fulfils its obligations to customers by supplying goods and services, and excludes value added tax.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

7,000

At 31 December 2020

7,000

DEPRECIATION

Charge for year

1,350

At 31 December 2020

1,350

NET BOOK VALUE

At 31 December 2020

5,650

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.20

31.12.19

£

£

Repayable by instalments

Bank loans more 5 yr by instal

1,667

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

100

ORDINARY

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 January 2020

13,135

Profit for the year

4,746

At 31 December 2020

17,881

8.	RELATED PARTY DISCLOSURES

Included in Other Creditors, is a loan of £20589 (2018 - £617) due to the director, Mr J Murphy.

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr. J Murphy.