Company registration number 05584907 (England and Wales)
ANDREW MURRAY (INVESTMENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
ANDREW MURRAY (INVESTMENTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ANDREW MURRAY (INVESTMENTS) LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
306,900
310,000
Investments
4
80,150
80,150
387,050
390,150
Current assets
Debtors
6
46,354
46,354
Cash at bank and in hand
176,335
129,047
222,689
175,401
Creditors: amounts falling due within one year
7
(238,810)
(189,622)
Net current liabilities
(16,121)
(14,221)
Total assets less current liabilities
370,929
375,929
Capital and reserves
Called up share capital
8
200
200
Revaluation reserve
99,694
100,701
Profit and loss reserves
271,035
275,028
Total equity
370,929
375,929
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ANDREW MURRAY (INVESTMENTS) LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 November 2023
Mr A Murray
Director
Company Registration No. 05584907
ANDREW MURRAY (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Andrew Murray (Investments) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3A Sentinel Court, Wilkinson Way, Shadsworth Business Park, Blackburn, Lancashire, BB1 2EH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include leasehold properties at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The company is reliant upon the financial support of other group companies in order to meet its liabilities as they fall due. These companies have indicated that this support will continue for the foreseeable future and, as a result, the director hatrues continued to adopt the going concern basis in preparing the financial statements.
1.3
Turnover
Turnover represents management charges invoiced in the period.
1.4
Tangible fixed assets
Tangible fixed assets are measured at revaluation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
1% on revalued amount
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.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
ANDREW MURRAY (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and any deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
ANDREW MURRAY (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
3
Tangible fixed assets
Land and buildings
£
Cost or valuation
At 1 August 2022 and 31 July 2023
310,000
Depreciation and impairment
At 1 August 2022
Depreciation charged in the year
3,100
At 31 July 2023
3,100
Carrying amount
At 31 July 2023
306,900
At 31 July 2022
310,000
Leasehold property was valued at £310,000 on an open market basis on 31 July 2022 by Mr A Murray, a director of the company.
If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:
2023
2022
£
£
Cost
252,000
252,000
Accumulated depreciation
(42,701)
(38,430)
Carrying value
209,299
213,570
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
80,150
80,150
ANDREW MURRAY (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
5
Subsidiaries
Details of the company's subsidiaries at 31 July 2023 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
MBS Maintenance Limited
Unit 3A Sentinel Court, Wilkinson Way, Shadsworth Business Park, Blackburn, Lancashire, BB1 2EH
Maintenance contract services
Ordinary
80.00
0
Murray Building Services Limited
As above
Mechanical and electrical service contractor
Ordinary
80.00
0
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
46,354
46,354
7
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
193,740
147,738
Taxation and social security
34,627
40,178
Other creditors
10,443
1,706
238,810
189,622
Other creditors comprises £8,943 (2022: £205) directors loan account and £1,500 (2022: £1,501) accruals.
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
120
120
120
120
Deferred Ordinary shares of £1 each
50
50
50
50
Ordinary B shares of £1 each
30
30
30
30
200
200
200
200