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REGISTERED NUMBER: SC073270 (Scotland)









MUIRGROUP INTERIORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023






MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MUIRGROUP INTERIORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: A Muir
I A Muir
L Muir
C Crawford



SECRETARY: I A Muir



REGISTERED OFFICE: 2 Muriel Street
Barrhead
Glasgow
G78 1QB



REGISTERED NUMBER: SC073270 (Scotland)



ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL



BANKERS: The Royal Bank of Scotland

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MUIRGROUP INTERIORS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Muirgroup Interiors Limited for the year ended 31st October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Muirgroup Interiors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Muirgroup Interiors Limited and state those matters that we have agreed to state to the Board of Directors of Muirgroup Interiors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Muirgroup Interiors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Muirgroup Interiors Limited. You consider that Muirgroup Interiors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Muirgroup Interiors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


Date: .............................................

MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

BALANCE SHEET
31ST OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 111,260 128,410

CURRENT ASSETS
Stocks 140,452 133,663
Debtors 5 387,842 516,819
Cash in hand 5,201 4,860
533,495 655,342
CREDITORS
Amounts falling due within one year 6 486,207 580,500
NET CURRENT ASSETS 47,288 74,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,548

203,252

CREDITORS
Amounts falling due after more than one
year

7

(35,484

)

(48,098

)

PROVISIONS FOR LIABILITIES - (4,055 )
NET ASSETS 123,064 151,099

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 122,964 150,999
SHAREHOLDERS' FUNDS 123,064 151,099

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

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

MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

BALANCE SHEET - continued
31ST OCTOBER 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 31st July 2024 and were signed on its behalf by:





A Muir - Director


MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Muirgroup Interiors Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern basis
The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.

Turnover
The turnover shown in the profit and loss account represents the sales value of work done supplying and installing soft furnishings and floorcoverings during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% straight line
Computer equipment - 20% straight line

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.


MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Long term contracts
The company classifies as long term those contracts where the contract activity extends over more than one accounting period.

The amount recognised as turnover represents the value of work carried out during the year. Where the outcome of a contract can be assessed with reasonable certainty attributable profit is recognised in proportion to the amount of turnover recognised in the financial statements. Full provision is made for any foreseeable losses.

Where the amount recognised as turnover exceeds the payments received on account in respect of that contract, the balance is included in debtors as amounts recoverable on contracts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 31 ) .

MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st November 2022 172,743 5,815 300,777 23,281 502,616
Additions 2,984 - 16,450 - 19,434
At 31st October 2023 175,727 5,815 317,227 23,281 522,050
DEPRECIATION
At 1st November 2022 163,640 5,815 183,913 20,838 374,206
Charge for year 5,099 - 30,543 942 36,584
At 31st October 2023 168,739 5,815 214,456 21,780 410,790
NET BOOK VALUE
At 31st October 2023 6,988 - 102,771 1,501 111,260
At 31st October 2022 9,103 - 116,864 2,443 128,410

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st November 2022 88,526
Transfer to ownership (39,914 )
At 31st October 2023 48,612
DEPRECIATION
At 1st November 2022 27,822
Charge for year 17,706
Transfer to ownership (29,177 )
At 31st October 2023 16,351
NET BOOK VALUE
At 31st October 2023 32,261
At 31st October 2022 60,704

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 308,787 443,794
Amounts recoverable on contracts 61,513 40,232
Other debtors 17,542 32,793
387,842 516,819

MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 8) 189,492 186,508
Hire purchase contracts 7,281 15,179
Trade creditors 139,320 168,456
Taxation and social security 57,150 92,185
Other creditors 92,964 118,172
486,207 580,500

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 8) 32,317 37,650
Hire purchase contracts 3,167 10,448
35,484 48,098

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 9,603 15,496

8. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 184,159 181,307
Bank loans 5,333 5,201
189,492 186,508

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,468 5,333

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,246 16,821

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 9,603 15,496

MUIRGROUP INTERIORS LIMITED (REGISTERED NUMBER: SC073270)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdrafts 184,159 181,307
Hire purchase contracts 10,448 25,627
194,607 206,934

There is a bond and floating charge over the property and assets of the company to secure any future sums and obligations due or to become due from time to time by the company to The Royal Bank of Scotland.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
70 Ordinary £1 70 70
30 "A" Ordinary £1 30 30
100 100

11. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £5,687 (2022: £7,693)

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

31.10.23 31.10.22
£    £   
L Muir
Balance outstanding at start of year 741 (403 )
Amounts advanced 48,747 44,544
Amounts repaid (47,309 ) (43,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,179 741

13. RELATED PARTY DISCLOSURES

The premises occupied by the company are owned by Muirfloor Contracts Ltd which is a company controlled by Mr & Mrs A Muir. There is no rent charged for these premises.

14. ULTIMATE CONTROLLING PARTY

The company was under the control of A Muir and I Muir throughout the current period and previous year.