Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01Constructionfalse22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05276848 2022-12-01 2023-11-30 05276848 2021-12-01 2022-11-30 05276848 2023-11-30 05276848 2022-11-30 05276848 c:Director1 2022-12-01 2023-11-30 05276848 d:PlantMachinery 2022-12-01 2023-11-30 05276848 d:PlantMachinery 2023-11-30 05276848 d:PlantMachinery 2022-11-30 05276848 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05276848 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 05276848 d:FreeholdInvestmentProperty 2022-12-01 2023-11-30 05276848 d:FreeholdInvestmentProperty 2023-11-30 05276848 d:FreeholdInvestmentProperty 2022-11-30 05276848 d:CurrentFinancialInstruments 2023-11-30 05276848 d:CurrentFinancialInstruments 2022-11-30 05276848 d:Non-currentFinancialInstruments 2023-11-30 05276848 d:Non-currentFinancialInstruments 2022-11-30 05276848 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05276848 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 05276848 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 05276848 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 05276848 d:ShareCapital 2023-11-30 05276848 d:ShareCapital 2022-11-30 05276848 d:InvestmentPropertiesRevaluationReserve 2022-12-01 2023-11-30 05276848 d:InvestmentPropertiesRevaluationReserve 2023-11-30 05276848 d:InvestmentPropertiesRevaluationReserve 2022-11-30 05276848 d:RetainedEarningsAccumulatedLosses 2023-11-30 05276848 d:RetainedEarningsAccumulatedLosses 2022-11-30 05276848 c:OrdinaryShareClass1 2022-12-01 2023-11-30 05276848 c:OrdinaryShareClass1 2023-11-30 05276848 c:FRS102 2022-12-01 2023-11-30 05276848 c:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05276848 c:FullAccounts 2022-12-01 2023-11-30 05276848 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05276848 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-01 2023-11-30 05276848 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-11-30 05276848 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-30 05276848 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05276848










B MURRAY DEVELOPERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
B MURRAY DEVELOPERS LIMITED
 

CONTENTS



Page
Accountants' Report
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 8


 
B MURRAY DEVELOPERS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF B MURRAY DEVELOPERS LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B Murray Developers Limited for the year ended 30 November 2023 which comprise the Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of B Murray Developers Limited, as a body, in accordance with the terms of our engagement letter dated 21 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of B Murray Developers Limited and state those matters that we have agreed to state to the Board of Directors of B Murray Developers Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B Murray Developers Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that B Murray Developers 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 loss of B Murray Developers Limited. You consider that B Murray Developers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of B Murray Developers 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
28 August 2024
Page 1

 
B MURRAY DEVELOPERS LIMITED
REGISTERED NUMBER: 05276848

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,080
5,326

Investment property
 5 
-
390,000

  
3,080
395,326

Current assets
  

Debtors: amounts falling due within one year
 6 
40,501
52,741

Cash at bank and in hand
  
91,136
3,035

  
131,637
55,776

Creditors: amounts falling due within one year
 7 
(18,780)
(28,282)

Net current assets
  
 
 
112,857
 
 
27,494

Total assets less current liabilities
  
115,937
422,820

Creditors: amounts falling due after more than one year
 8 
-
(221,794)

Provisions for liabilities
  

Deferred tax
  
(585)
(14,286)

  
 
 
(585)
 
 
(14,286)

Net assets
  
115,352
186,740


Capital and reserves
  

Called up share capital 
 9 
2
2

Investment property reserve
 10 
-
151,288

Profit and loss account
 10 
115,350
35,450

  
115,352
186,740


Page 2

 
B MURRAY DEVELOPERS LIMITED
REGISTERED NUMBER: 05276848
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies regime.

28 August 2024The financial statements were approved and authorised for issue by the board and were signed on its behalf by:




................................................
Miss B E Murray
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
B MURRAY DEVELOPERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The company is a private United Kingdon company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principal place of business is Old Buckenham, Norfolk.
The company's principal activity is that of property development and building work.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts and rebates. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
-  the amount of turnover can be measured reliably;
-   it is probable that the Company will receive the consideration due under the contract;
-  the stage of completion of the contract at the end of the reporting period can be measured    reliably; and
-  the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss 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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
B MURRAY DEVELOPERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

  
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

Page 5

 
B MURRAY DEVELOPERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 December 2022
10,596


Additions
441


Disposals
(5,403)



At 30 November 2023

5,634



Depreciation


At 1 December 2022
5,270


Charge for the year on owned assets
95


Charge for the year on financed assets
448


Disposals
(3,259)



At 30 November 2023

2,554



Net book value



At 30 November 2023
3,080



At 30 November 2022
5,326

Page 6

 
B MURRAY DEVELOPERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Investment property


Freehold investment property

£





At 1 December 2022
390,000


Disposals
(390,000)



At 30 November 2023
-

The 2022 valuations were made by the directors, on an open market value for existing use basis.





6.


Debtors

2023
2022
£
£


Other debtors
40,501
52,477

Prepayments and accrued income
-
264

40,501
52,741



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
15,765
26,263

Obligations under finance lease and hire purchase contracts
-
283

Accruals and deferred income
3,015
1,736

18,780
28,282


The hire purchase contracts were secured on the assets to which they relate.

Page 7

 
B MURRAY DEVELOPERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
221,794

-
221,794


Details of security provided:
The mortgages were secured against the investment properties.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1.00 each
2
2



10.


Reserves

Investment property revaluation reserve

The fair value reserve is the accumulation of revaluations on the investment properties, which are revalued annually to give a true and fair view, less the potential tax payable on the disposal of the investment properties, which is included in deferred tax. Deferred tax is calculated on the current tax rate of corporation tax applicable in the UK. The debit and credit amounts are transfers from the profit and loss account.


11.


Related party transactions

As at 1 December 2022, the balance on the directors' loan account was £38,033 overdrawn. During the year, the directors introduced funds into the company totalling £78,252 and withdrew monies totalling £66,277. As at 30 November 2023, the balance on the directors' loan account was £26,058 overdrawn, as included within other debtors note 6. Interest totalling £796 (2022: £954) was charged at a rate of 2.00% up to 5 April 2023 and then 2.25% thereafter on the overdrawn balance.

 
Page 8