IRIS Accounts Production v24.1.9.2 NI634495 director 1.11.22 31.10.23 31.10.23 0 false true false false true false A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6344952022-10-31NI6344952023-10-31NI6344952022-11-012023-10-31NI6344952021-10-31NI6344952021-11-012022-10-31NI6344952022-10-31NI634495ns15:NorthernIreland2022-11-012023-10-31NI634495ns14:PoundSterling2022-11-012023-10-31NI634495ns10:Director12022-11-012023-10-31NI634495ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31NI634495ns10:SmallEntities2022-11-012023-10-31NI634495ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31NI634495ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-31NI634495ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31NI634495ns10:FullAccounts2022-11-012023-10-31NI634495ns10:OrdinaryShareClass12022-11-012023-10-31NI634495ns5:CurrentFinancialInstruments2023-10-31NI634495ns5:CurrentFinancialInstruments2022-10-31NI634495ns5:ShareCapital2023-10-31NI634495ns5:ShareCapital2022-10-31NI634495ns5:SharePremium2023-10-31NI634495ns5:SharePremium2022-10-31NI634495ns5:RetainedEarningsAccumulatedLosses2023-10-31NI634495ns5:RetainedEarningsAccumulatedLosses2022-10-31NI634495ns10:RegisteredOffice2022-11-012023-10-31NI634495ns5:CostValuation2022-10-31NI634495ns10:OrdinaryShareClass12023-10-31
REGISTERED NUMBER: NI634495 (Northern Ireland)















MURLEOG LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2023






MURLEOG LIMITED (REGISTERED NUMBER: NI634495)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


MURLEOG LIMITED (REGISTERED NUMBER: NI634495)

Statement of Financial Position
31 OCTOBER 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Investment 5 2,220,358 2,220,358

CURRENT ASSETS
Receivables: amounts falling due within
one year

6

371,904

183,481
Cash at bank 573,005 390,153
944,909 573,634
PAYABLES
Amounts falling due within one year 7 (797,236 ) (424,684 )
NET CURRENT ASSETS 147,673 148,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,368,031

2,369,308

CAPITAL AND RESERVES
Called up share capital 8 101 101
Share premium 1,089,506 1,089,506
Retained earnings 1,278,424 1,279,701
SHAREHOLDERS' FUNDS 2,368,031 2,369,308

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 25 July 2024 and were signed by:





James Peter Conlon - Director


MURLEOG LIMITED (REGISTERED NUMBER: NI634495)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Murleog Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI634495

Registered office: 18 Hampton Park
Belfast
BT7 3GQ

2. STATEMENT OF COMPLIANCE

The individual financial statements of Murleog Limited have been prepared in compliance with United Kingdom Accounting Standards, including the Financial Reporting Standard 102, Section 1A, "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" ("FRS 102") and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 required the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company accounting policies. No critical judgements or critical accounting estimates have been applied to these financial statements.

The following accounting policies have been applied consistently.

Investments in subsidiaries
Investment in subsidiary is measured at cost less accumulated impairment.

MURLEOG LIMITED (REGISTERED NUMBER: NI634495)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related companies are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and hire purchase contracts 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance sheet date in the countries where the company operates and generates income.

MURLEOG LIMITED (REGISTERED NUMBER: NI634495)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Consolidation
The company is exempt by virtue of section 398 of the Companies Act 2006 from the requirement to prepare consolidation financial statements.

These financial statements are the company's separate financial statements.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders at an annual general meeting.

Borrowing costs
All borrowing costs are recognised in the Income statement in the year they were incurred.

Finance costs
Finance costs are charged to the Income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from proceeds.

Subsidiary undertaking
The following was a subsidiary undertaking of the company:


Name
Country of
incorporation
Class of
shares

Holding
Registered
address
Principal
activity






NIAVAC Limited






Northern Ireland






Ordinary






100%


5 Prince
Regent
Road,
Belfast, BT5
6QR
Selling,
maintenance
, and
installation
of audio and
visual
equipment

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - NIL ) .

MURLEOG LIMITED (REGISTERED NUMBER: NI634495)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. FIXED ASSET INVESTMENT
Share in
group
undertaking
£
COST
At 1 November 2022
and 31 October 2023 2,220,358
NET BOOK VALUE
At 31 October 2023 2,220,358
At 31 October 2022 2,220,358

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Directors' current account 371,904 183,481

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed to group undertaking 794,714 422,809
Accruals and deferred income 2,522 1,875
797,236 424,684

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
101 A 1 101 101

9. ULTIMATE CONTROLLING PARTY

The controlling party is James Peter Conlon.

10. RELATED PARTY TRANSACTIONS

The company has identified the following transactions which are required to be disclosed under the terms of Financial Reporting Standards 102 section 33 "Related Party Disclosures". NIAVAC Limited as a wholly owned subsidiary of Murleog Limited is regarded as a related party. In the year to 31 October 2022, Murleog Limited received a dividend of £69,690 (2022: £65,000) from NIAVAC Limited.
Mr James Conlon is regarded as a related party due to his position of director within the company.
Dividends of £69,690 were paid to Mr Conlon due to his share holding in the company. At 31 October 2023 £371,904 (2022: £183,481) was owed to the company by Mr James Conlon.