Murform Limited - Accounts to registrar (filleted) - small 18.2
Murform Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| FOR |
| MURFORM LIMITED |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MURFORM LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Statutory Auditors |
| Herschel House |
| 58 Herschel Street |
| Slough |
| Berkshire |
| SL1 1PG |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| BALANCE SHEET |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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 |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Murform Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of construction services net of retentions and excluding value added tax. |
| Retention payments are recognised as income as received in keeping with common practice for the industry given |
| the uncertain nature of this income. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Work in progress |
| Work in progress represents services to the extent of materials used and work completed at the balance sheet date, |
| taking due allowance for any expected losses realised or anticipated at that date. |
| 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 that have been enacted or |
| substantively enacted by the balance sheet date. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
| sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date |
| of transaction. Exchange differences are taken into account in arriving at the operating result. |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Financial instruments |
| Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company |
| does not have any other financial instruments, as covered by Section 12 of FRS 102. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2017 |
| and 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| The amounts due from group companies above are owed by G-Frame Structures Limited. No provision has been |
| made against the debt as it is considered recoverable, albeit not immediately, from the company. The parent |
| company has provided a guarantee for the amount of the debt in the event that profits are not realised by G-Frame |
| Structures Limited in the future. |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors & accruals |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Amounts owed to group undertakings |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Within one year |
| Between one and five years |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2017 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Hire purchase contracts | 72,636 | 14,810 |
| There is a First Legal Charge dated 07 June 2012 over Leasehold Property know as Flat 122, Britannia House, |
| Palgrave Road, Bedford, MK42 9BX. |
| There is a Debenture including Fixed Charge over all present freehold and leasehold property; First Fixed Charge |
| over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating |
| Charge over all assets and undertaking both present and future dated 19 April 2012. |
| There is a charge dated 22 December 2017 over 58 Eagles View, Livingston, EH54 8AE. |
| The above charges are in relation to HSBC Bank PLC and at the year end there was no monies due to HSBC |
| Bank PLC (2016: Nil). |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
| value: | £ | £ |
| Ordinary 'A' shares | £1 | 3 | 3 |
| Ordinary 'B' shares | £1 | 1 | 1 |
| 4 | 4 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2017 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 December 2017 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| MURFORM LIMITED (REGISTERED NUMBER: 06346867) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2017 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued |
| We would like to draw your attention to the following statement contained within our audit report as included |
| within the full financial statements:- |
| "This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
| Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
| matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
| permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
| members as a body, for our audit work, for this report, or for the opinions we have formed." |
| 14. | RELATED PARTY DISCLOSURES |
| Murform Limited is a 75% subsidiary of Murform Structures Limited. |
| During the year under review, Murform Structures Limited charged Murform Limited, £692,070 (2016: £573,615 |
| ) on a normal commercial basis for management services and £267,462 (2016: £452,847) for formwork hire. |
| Additionally funding was provided between the two companies. At the year end Murform Limited owed Murform |
| Structures Limited £526,250 (£500,000 of which was >1 year). |
| G-Frame Structures Limited is an 80% subsidiary of Murform Limited. |
| Murform Limited provided funding to G-Frame Structures Limited. At the year end the outstanding balance owed |
| to Murform Limited was £298,196 (2016: £228,900). This is included within amounts owed to group |
| undertakings falling due within one year. |
| The loan had interest charged during the year from Murform Limited to G-Frame Structures Limited of £13,375 |
| (2016: £11,100). There is no repayment schedule and no fixed repayment date. |