Murray Hire Centres Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01869585 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Murray Hire Centres Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Taylor

I Murray

SECRETARY:

Mrs M Taylor

REGISTERED OFFICE:

Armstrong Way

Great Western Business park

Yate

Bristol

BS37 5NG

REGISTERED NUMBER:

01869585 (England and Wales)

ACCOUNTANTS:

PBTA Keynsham Limited

2nd Floor, 53 High Street

Keynsham

N E Somerset

BS31 1DS

FIXED ASSETS

Tangible assets

4

2,048,846

1,980,480

CURRENT ASSETS

Stocks

50,270

32,713

Debtors

5

110,682

117,903

Cash at bank and in hand

836,420

850,061

997,372

1,000,677

CREDITORS

Amounts falling due within one year

6

93,390

105,501

NET CURRENT ASSETS

903,982

895,176

TOTAL ASSETS LESS CURRENT LIABILITIES

2,952,828

2,875,656

PROVISIONS FOR LIABILITIES

376,471

317,136

NET ASSETS

2,576,357

2,558,520

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Revaluation reserve

7

1,185,524

1,185,524

Retained earnings

1,388,833

1,370,996

SHAREHOLDERS' FUNDS

2,576,357

2,558,520

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:

Mrs M Taylor - Director

1.	STATUTORY INFORMATION

Murray Hire Centres Limited 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 as modified by the revaluation of certain assets.

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.

Land and buildings

-

at varying rates on cost

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks

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

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 is provided for on revaluation of the company property, the revaluation was carried out on 31 March 2022.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2022

1,728,475

1,529,108

3,257,583

Additions

-

243,374

243,374

Disposals

-

(115,381

)

(115,381

)

At 31 March 2023

1,728,475

1,657,101

3,385,576

DEPRECIATION

At 1 April 2022

278,475

998,628

1,277,103

Charge for year

-

151,814

151,814

Eliminated on disposal

-

(92,187

)

(92,187

)

At 31 March 2023

278,475

1,058,255

1,336,730

NET BOOK VALUE

At 31 March 2023

1,450,000

598,846

2,048,846

At 31 March 2022

1,450,000

530,480

1,980,480

Included in cost or valuation of land and buildings is freehold land of £ 264,476 (2022 - £ 264,476 ) which is not depreciated.

Cost or valuation at 31 March 2023 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2022

1,185,524

-

1,185,524

Cost

542,951

1,657,101

2,200,052

1,728,475

1,657,101

3,385,576

The company's property at Armstrong Way, Great Western Business Park, Yate, Bristol has been valued at the year end by the directors. This valuation is in line with a formal valuation carried out in 2016 in order to value the estate of a former Director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

97,645

102,309

Other debtors

13,037

15,594

110,682

117,903

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

214

219

Taxation and social security

82,503

96,002

Other creditors

10,673

9,280

93,390

105,501

7.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

1,185,524

8.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling parties are Mr I Murray & Mrs M Taylor who each own 50% of the issued share capital.