MUIRTON CONTROL & AUTOMATION LTD


Director	MCDONALD, Ewen


Registered Address	39 High Street
	Fochabers
	IV32 7DX


Registered Number	SC395862 (Scotland)

Balance Sheet as at
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	5		180,223		165,209
			180,223		165,209
Current assets
Debtors	7	55,076		52,194
Cash at bank and on hand		320,457		205,619
		375,533		257,813
Creditors amounts falling due within one year	8	(132,754)		(89,623)
Net current assets (liabilities)			242,779		168,190
Total assets less current liabilities			423,002		333,399
Creditors amounts falling due after one year	9		(43,333)		(88,333)
Provisions for liabilities	10		(4,088)		(943)
Net assets			375,581		244,123
Capital and reserves
Called up share capital			9		9
Other reserves			(49,999)		(49,999)
Profit and loss account			425,571		294,113
Shareholders' funds			375,581		244,123

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 3 October 2023, and are signed on its behalf by:

MCDONALD, Ewen
Director
Registered Company No. SC395862

MUIRTON CONTROL & AUTOMATION LTD

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	4
	Vehicles	5
	Office Equipment	3

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	Employee information


		2023		2022
	Average number of employees during the year	12		12

5.	Property, plant and equipment

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 22	140,057	72,474	130,380	13,630	8,782	365,323
Additions	-	9,501	14,466	2,686	1,838	28,491
At 31 March 23	140,057	81,975	144,846	16,316	10,620	393,814
Depreciation and impairment
At 01 April 22	-	65,604	112,779	13,345	8,386	200,114
Charge for year	-	4,425	8,169	448	435	13,477
At 31 March 23	-	70,029	120,948	13,793	8,821	213,591
Net book value
At 31 March 23	140,057	11,946	23,898	2,523	1,799	180,223
At 31 March 22	140,057	6,870	17,601	285	396	165,209

6.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
MCDONALD, Ewen	0	4,000	0	4,000
	0	4,000	0	4,000


	The loan was interest free and repaid in August 2023.

7.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	51,076	46,310
Other debtors	4,000	5,884
Total	55,076	52,194


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

8.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	36,811	47,041
Bank borrowings and overdrafts	27,454	31,504
Taxation and social security	65,642	7,225
Other creditors	2,847	3,853
Total	132,754	89,623


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

9.	Creditors after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	43,333	88,333
Total	43,333	88,333

10.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	4,088	943
Total	4,088	943