Murvagh Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC418531 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Murvagh Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C J Watson

REGISTERED OFFICE:

37 Beechgrove Gardens

ABERDEEN

AB15 5HG

REGISTERED NUMBER:

SC418531 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

23 Carden Place

Aberdeen

AB10 1UQ

FIXED ASSETS

Intangible assets

4

119,344

131,278

Tangible assets

5

22,137

24,749

141,481

156,027

CURRENT ASSETS

Stocks

3,755

4,136

Cash in hand

540

540

4,295

4,676

CREDITORS

Amounts falling due within one year

6

77,544

99,572

NET CURRENT LIABILITIES

(73,249

)

(94,896

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,232

61,131

PROVISIONS FOR LIABILITIES

38

57

NET ASSETS

68,194

61,074

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

68,094

60,974

SHAREHOLDERS' FUNDS

68,194

61,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 5 December 2017 and were signed by:

C J Watson - Director

1.	STATUTORY INFORMATION

Murvagh Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services relating to that of a public house

provided in the year, excluding valued added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance, 10% on reducing balance and 6.67% on cost

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

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 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

179,016

AMORTISATION

At 1 April 2016

47,738

Charge for year

11,934

At 31 March 2017

59,672

NET BOOK VALUE

At 31 March 2017

119,344

At 31 March 2016

131,278

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

34,049

At 31 March 2017

34,049

DEPRECIATION

At 1 April 2016

9,300

Charge for year

2,612

At 31 March 2017

11,912

NET BOOK VALUE

At 31 March 2017

22,137

At 31 March 2016

24,749

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

11,909

9,707

Trade creditors

-

3,963

Taxation and social security

10,976

10,637

Other creditors

54,659

75,265

77,544

99,572

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Watson.

9.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared in accordance with

Financial Reporting Standard 102 (FRS 102). The date of transition to FRS 102 was 1 April 2015.

The reported financial position and financial performance for the previous period are not affected by

the transition to FRS 102.