Company Registration No. 08824497 (England and Wales)
Murex Wilton Limited
Unaudited accounts
for the year ended 31 March 2017
Murex Wilton Limited
Unaudited accounts
Contents
Murex Wilton Limited
Company Information
for the year ended 31 March 2017
Directors
Hon MJ Samuel
Hon HHP Wyndham
SD Ellam
Company Number
08824497 (England and Wales)
Registered Office
Sydeham Farm
Rackenford
Tiverton
Devon
EX16 8ER
United Kingdom
Accountants
EllamWalker Ltd
Sydeham Farm
Rackenford
Tiverton
Devon
EX16 8ER
Murex Wilton Limited
Statement of financial position
as at 31 March 2017
Tangible assets
1,532,512
1,614,890
Cash at bank and in hand
128,281
50,135
Creditors: amounts falling due within one year
(644,437)
(26,269)
Net current (liabilities)/assets
(438,977)
190,135
Total assets less current liabilities
1,093,535
1,805,025
Creditors: amounts falling due after more than one year
(1,132,117)
(1,862,040)
Provisions for liabilities
Deferred tax
(82,455)
(114,360)
Net liabilities
(121,037)
(171,375)
Called up share capital
100
100
Profit and loss account
(121,137)
(171,475)
Shareholders' funds
(121,037)
(171,375)
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 18 December 2017.
Hon MJ Samuel
Director
Company Registration No. 08824497
Murex Wilton Limited
Notes to the Accounts
for the year ended 31 March 2017
Murex Wilton Limited is a private company, limited by shares, registered in England and Wales, registration number 08824497. The registered office is Sydeham Farm, Rackenford, Tiverton, Devon, EX16 8ER, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The accounts have been prepared on a going concern basis on the grounds that the ultimate controlling party, Hon Michael Samuel, will continue to provide sufficient finance for future trading.
Murex Wilton Limited
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
At 31 March 2017
1,668,293
Charge for the year
83,398
At 31 March 2017
1,532,512
At 31 March 2016
1,614,890
Accrued income and prepayments
77,179
166,269
6
Creditors: amounts falling due within one year
2017
2016
Amounts owed to group undertakings and other participating interests
622,802
-
Taxes and social security
72
-
7
Creditors: amounts falling due after more than one year
2017
2016
Bank loans
1,132,117
1,204,238
Amounts owed to group undertakings and other participating interests
-
657,802
Aggregate of amounts that fall due for payment after five years
588,843
658,062
The bank loan, repayable in instalments, is secured on the assets of the company.
8
Deferred taxation
2017
2016
Accelerated capital allowances
82,455
114,360
Murex Wilton Limited
Notes to the Accounts
for the year ended 31 March 2017
Provision at start of year
114,360
-
(Credited)/charged to the profit and loss account
(31,905)
114,360
Provision at end of year
82,455
114,360
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Operating lease commitments
2017
2016
At 31 March 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
5,000
5,000
11
Transactions with related parties
The parent company loan of £622,802 (2016 - £657,802) included in creditors is a loan from Murex Energy Wind Ltd. The Hon M Samuel, the Hon H Wyndham and SD Ellam are all directors of this company.
Mr SD Ellam is also a director of EllamWalker Ltd, a supplier to Murex Wilton Ltd and transactions amounting to £7,323 (2016 - £17,033) took place during the year.
Murex Energy Ltd is the ultimate controlling company.
The ultimate controlling party is Hon MJ Samuel.
13
Average number of employees
During the year the average number of employees was 0 (2016: 0).
