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REGISTERED NUMBER: 09484720 (England and Wales)









N & J MURPHY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


N & J MURPHY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Dr N J W Murphy
Dr J R Murphy





REGISTERED OFFICE: Billingshurst Dental Practice
114 High Street
Billingshurst
West Sussex
RH14 9QS





REGISTERED NUMBER: 09484720 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 201,500 217,000
Tangible assets 5 84,126 86,936
285,626 303,936

CURRENT ASSETS
Debtors 6 82,404 50,367
Cash at bank and in hand 42,673 64,294
125,077 114,661
CREDITORS
Amounts falling due within one year 7 72,941 64,998
NET CURRENT ASSETS 52,136 49,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,762

353,599

CREDITORS
Amounts falling due after more than one
year

8

(165,430

)

(194,054

)

PROVISIONS FOR LIABILITIES 9 (19,802 ) (15,671 )
NET ASSETS 152,530 143,874

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 152,430 143,774
SHAREHOLDERS' FUNDS 152,530 143,874

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

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

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:





Dr N J W Murphy - Director


N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

N & J Murphy 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Improvements to property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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 have been enacted or substantively enacted by the balance sheet date.


N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 310,000
AMORTISATION
At 1 April 2022 93,000
Amortisation for year 15,500
At 31 March 2023 108,500
NET BOOK VALUE
At 31 March 2023 201,500
At 31 March 2022 217,000

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 69,475 83,517 21,511 6,917 181,420
Additions - 11,025 720 - 11,745
At 31 March 2023 69,475 94,542 22,231 6,917 193,165
DEPRECIATION
At 1 April 2022 8,269 61,617 18,491 6,107 94,484
Charge for year 1,389 11,607 1,142 417 14,555
At 31 March 2023 9,658 73,224 19,633 6,524 109,039
NET BOOK VALUE
At 31 March 2023 59,817 21,318 2,598 393 84,126
At 31 March 2022 61,206 21,900 3,020 810 86,936

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 33,858
DEPRECIATION
At 1 April 2022
and 31 March 2023 33,858
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 48,955 34,080
Other debtors 33,449 16,287
82,404 50,367

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,909 22,378
Hire purchase contracts 4,692 4,692
Trade creditors 13,067 6,862
Taxation and social security 16,756 12,713
Other creditors 15,517 18,353
72,941 64,998

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 154,091 177,000
Hire purchase contracts 11,339 16,031
Other creditors - 1,023
165,430 194,054

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 72,155 89,179

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19,802 15,671

Deferred
tax
£   
Balance at 1 April 2022 15,671
Accelerated capital allowances 4,131
Balance at 31 March 2023 19,802

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Dr N J W Murphy and Dr J R Murphy
Balance outstanding at start of year 11,237 (22,891 )
Amounts advanced 168,614 165,998
Amounts repaid (149,967 ) (131,870 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,884 11,237

12. ULTIMATE CONTROLLING PARTY

The company is controlled equally by its directors.