Silverfin false 31/03/2023 01/04/2022 31/03/2023 L Murray 30/04/2012 P Murray 12/04/2005 19 October 2023 The principal activity of the company during the financial year was the provision of dental services. SC283013 2023-03-31 SC283013 bus:Director1 2023-03-31 SC283013 bus:Director2 2023-03-31 SC283013 2022-03-31 SC283013 core:CurrentFinancialInstruments 2023-03-31 SC283013 core:CurrentFinancialInstruments 2022-03-31 SC283013 core:Non-currentFinancialInstruments 2023-03-31 SC283013 core:Non-currentFinancialInstruments 2022-03-31 SC283013 core:ShareCapital 2023-03-31 SC283013 core:ShareCapital 2022-03-31 SC283013 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC283013 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC283013 core:LandBuildings 2022-03-31 SC283013 core:PlantMachinery 2022-03-31 SC283013 core:OfficeEquipment 2022-03-31 SC283013 core:ComputerEquipment 2022-03-31 SC283013 core:LandBuildings 2023-03-31 SC283013 core:PlantMachinery 2023-03-31 SC283013 core:OfficeEquipment 2023-03-31 SC283013 core:ComputerEquipment 2023-03-31 SC283013 core:CurrentFinancialInstruments core:Secured 2023-03-31 SC283013 bus:OrdinaryShareClass1 2023-03-31 SC283013 2022-04-01 2023-03-31 SC283013 bus:FullAccounts 2022-04-01 2023-03-31 SC283013 bus:SmallEntities 2022-04-01 2023-03-31 SC283013 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC283013 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC283013 bus:Director1 2022-04-01 2023-03-31 SC283013 bus:Director2 2022-04-01 2023-03-31 SC283013 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 SC283013 core:PlantMachinery core:TopRangeValue 2022-04-01 2023-03-31 SC283013 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC283013 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC283013 2021-04-01 2022-03-31 SC283013 core:LandBuildings 2022-04-01 2023-03-31 SC283013 core:PlantMachinery 2022-04-01 2023-03-31 SC283013 core:OfficeEquipment 2022-04-01 2023-03-31 SC283013 core:ComputerEquipment 2022-04-01 2023-03-31 SC283013 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 SC283013 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC283013 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC283013 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC283013 (Scotland)

PETER MURRAY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

PETER MURRAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

PETER MURRAY LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
PETER MURRAY LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 312,085 309,151
312,085 309,151
Current assets
Stocks 13,121 8,000
Debtors 4 16,963 18,785
Cash at bank and in hand 116,618 101,481
146,702 128,266
Creditors: amounts falling due within one year 5 ( 104,802) ( 89,915)
Net current assets 41,900 38,351
Total assets less current liabilities 353,985 347,502
Creditors: amounts falling due after more than one year 6 ( 211,614) ( 238,280)
Provision for liabilities ( 38,475) ( 37,763)
Net assets 103,896 71,459
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 103,894 71,457
Total shareholders' funds 103,896 71,459

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Peter Murray Limited (registered number: SC283013) were approved and authorised for issue by the Director on 19 October 2023. They were signed on its behalf by:

P Murray
Director
PETER MURRAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PETER MURRAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Peter Murray Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 7-11 Melville Street, Edinburgh, EH3 7PE, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents the value of dentistry goods or services supplied at point of recognition. Turnover is recognised as dentistry services have been performed.

Employee benefits

Short term benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 4 years straight line
Office equipment 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical expense and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Land and buildings Plant and machinery Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2022 332,506 123,190 3,217 7,885 466,798
Additions 0 19,406 114 399 19,919
At 31 March 2023 332,506 142,596 3,331 8,284 486,717
Accumulated depreciation
At 01 April 2022 46,454 104,565 2,653 3,975 157,647
Charge for the financial year 6,650 7,725 165 2,445 16,985
At 31 March 2023 53,104 112,290 2,818 6,420 174,632
Net book value
At 31 March 2023 279,402 30,306 513 1,864 312,085
At 31 March 2022 286,052 18,625 564 3,910 309,151

4. Debtors

2023 2022
£ £
Trade debtors 11,634 13,040
Other debtors 5,329 5,745
16,963 18,785

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 27,636 28,352
Taxation and social security 49,931 44,541
Other creditors 27,235 17,022
104,802 89,915

The bank loan is secured by a fixed and floating charge over all the assets of the company.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 211,614 238,280

The bank loan is secured by a fixed and floating charge over all the assets of the company.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed by key management personnel 424 0

Advances

An advance to key management personnel was made on 31 March 2023 for £424 (no interest has been charged), there are no fixed terms of repayment.