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REGISTERED NUMBER: 07647081 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

MURPHY UTILITIES LIMITED

MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MURPHY UTILITIES LIMITED

COMPANY INFORMATION
For The Year Ended 31 May 2023







DIRECTORS: Mr S C Murphy
Mr C Murphy





REGISTERED OFFICE: First Floor
Unit 15
Manor Court
Scarborough
North Yorkshire
YO11 3TU





REGISTERED NUMBER: 07647081 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,212,796 1,382,084

CURRENT ASSETS
Stocks 409,733 169,866
Debtors 5 988,634 893,924
Cash at bank and in hand 75 3,735
1,398,442 1,067,525
CREDITORS
Amounts falling due within one year 6 1,474,085 1,079,575
NET CURRENT LIABILITIES (75,643 ) (12,050 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,137,153 1,370,034

CREDITORS
Amounts falling due after more than
one year

7

(555,520

)

(896,362

)

PROVISIONS FOR LIABILITIES (235,500 ) (143,938 )
NET ASSETS 346,133 329,734

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 346,113 329,714
346,133 329,734

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

BALANCE SHEET - continued
31 May 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





Mr S C Murphy - Director


MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023


1. STATUTORY INFORMATION

Murphy Utilities 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance, 15% on reducing balance and 5% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023


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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 43 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 1,689,854
Additions 27,471
Disposals (156,604 )
At 31 May 2023 1,560,721
DEPRECIATION
At 1 June 2022 307,770
Charge for year 97,934
Eliminated on disposal (57,779 )
At 31 May 2023 347,925
NET BOOK VALUE
At 31 May 2023 1,212,796
At 31 May 2022 1,382,084

MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023


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 June 2022 1,441,223
Disposals (101,350 )
At 31 May 2023 1,339,873
DEPRECIATION
At 1 June 2022 171,662
Charge for year 73,510
Eliminated on disposal (20,671 )
At 31 May 2023 224,501
NET BOOK VALUE
At 31 May 2023 1,115,372
At 31 May 2022 1,269,561

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 470,535 375,314
Other debtors 518,099 518,610
988,634 893,924

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 178,830 139,754
Hire purchase contracts 253,629 302,952
Trade creditors 751,384 308,761
Taxation and social security 37,281 39,345
Other creditors 252,961 288,763
1,474,085 1,079,575

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 129,167 179,167
Hire purchase contracts 426,353 717,195
555,520 896,362

MURPHY UTILITIES LIMITED (REGISTERED NUMBER: 07647081)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr S C Murphy
Balance outstanding at start of year 13,691 -
Amounts advanced 92,039 87,370
Amounts repaid (40,435 ) (73,679 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,295 13,691

Mr C Murphy
Balance outstanding at start of year 30,573 -
Amounts advanced 43,882 30,573
Amounts repaid (41,455 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,000 30,573

9. RELATED PARTY DISCLOSURES

During the year the company loaned monies to Murphy Holdings (Scarborough) Limited. The amount owed from the company at the year end date was £111,048 (2022: £72,603). The loan is repayable on demand and interest free.

During the year the company loaned monies from Murphy Fleet and Plant Services Limited. The amount owed to the company at the year end date was £125,180 (2022: £202,971). The loan is repayable on demand and interest free. Additionally, during the year the company was invoiced for services provided by Murphy Fleet and Plant Services Limited totalling £175,000. Management services were provided by the company and invoiced to Murphy Fleet and Plant Services Limited in the year totalling £66,500.

10. CHARGES AND SECURITY

HSBC Bank PLC holds a fixed and floating charge over all the assets of the company.