Murphy Fleet & Plant Services Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11341288 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

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:

First Floor

Unit 15

Manor Court

Scarborough

North Yorkshire

YO11 3TU

REGISTERED NUMBER:

11341288 (England and Wales)

ACCOUNTANTS:

Fortus North Limited

Business Advisors & Accountants

5&6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

FIXED ASSETS

Tangible assets

4

461,092

458,045

CURRENT ASSETS

Debtors

5

189,060

207,235

Cash at bank

1,231

7,746

190,291

214,981

CREDITORS

Amounts falling due within one year

6

89,664

114,998

NET CURRENT ASSETS

100,627

99,983

TOTAL ASSETS LESS CURRENT LIABILITIES

561,719

558,028

CREDITORS

Amounts falling due after more than one year

7

(123,642

)

(131,095

)

PROVISIONS FOR LIABILITIES

(107,516

)

(80,283

)

NET ASSETS

330,561

346,650

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

330,461

346,550

330,561

346,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:

Mr S 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 Statement of Income and Retained Earnings, 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2022

529,423

Additions

86,500

Disposals

(44,674

)

At 31 May 2023

571,249

DEPRECIATION

At 1 June 2022

71,378

Charge for year

43,825

Eliminated on disposal

(5,046

)

At 31 May 2023

110,157

NET BOOK VALUE

At 31 May 2023

461,092

At 31 May 2022

458,045

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

Plant and

machinery

etc

£

COST

At 1 June 2022

366,762

Additions

55,000

Disposals

(44,674

)

At 31 May 2023

377,088

DEPRECIATION

At 1 June 2022

34,381

Charge for year

21,625

Eliminated on disposal

(3,345

)

At 31 May 2023

52,661

NET BOOK VALUE

At 31 May 2023

324,427

At 31 May 2022

332,381

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

59,942

-

Other debtors

129,118

207,235

189,060

207,235

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts

84,189

86,130

Trade creditors

1,061

4,538

Taxation and social security

2,914

16,005

Other creditors

1,500

8,325

89,664

114,998

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts

123,642

131,095

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 £125,180 (2022: £202,970). The loans are repayable on demand and interest free. Additionally, during the year the company invoiced for services to Murphy Utilities Limited totalling £175,000, as well as Murphy Utilities Limited invoicing for management services totalling £66,500.

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 (2022: £2,640). The loans are repayable on demand and interest free.