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REGISTERED NUMBER: SC726433 (Scotland)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

K MURRAY ELECTRICAL LIMITED

K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

K MURRAY ELECTRICAL LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K A Murray





REGISTERED OFFICE: Oakfield House 376-378 Brandon Street
Motherwell
ML1 1XA





REGISTERED NUMBER: SC726433 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 20,676

CURRENT ASSETS
Debtors 5 4,028 5,009
Cash at bank and in hand 10 1,757
4,038 6,766
CREDITORS
Amounts falling due within one year 6 11,518 19,484
NET CURRENT LIABILITIES (7,480 ) (12,718 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,480

)

7,958

CREDITORS
Amounts falling due after more than one
year

7

-

(11,662

)

PROVISIONS FOR LIABILITIES 8 - (3,928 )
NET LIABILITIES (7,480 ) (7,632 )

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 10 (7,490 ) (7,642 )
SHAREHOLDERS' FUNDS (7,480 ) (7,632 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)

Balance Sheet - continued
31 March 2024


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 4 July 2024 and were signed by:





K A Murray - Director


K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

K Murray Electrical 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.

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.

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

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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.

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.

K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 654 25,987 26,641
Disposals (654 ) (25,987 ) (26,641 )
At 31 March 2024 - - -
DEPRECIATION
At 1 April 2023 163 5,802 5,965
Eliminated on disposal (163 ) (5,802 ) (5,965 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 491 20,185 20,676

K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 25,987
Disposals (25,987 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 5,802
Eliminated on disposal (5,802 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 20,185

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 370
Other debtors 4,028 4,172
VAT - 467
4,028 5,009

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 5,382
Trade creditors 60 2,639
Directors' current accounts 10,558 11,286
Accrued expenses 900 177
11,518 19,484

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 11,662

K MURRAY ELECTRICAL LIMITED (REGISTERED NUMBER: SC726433)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances - 3,928

Deferred
tax
£   
Balance at 1 April 2023 3,928
Credit to Income Statement during year (3,928 )
Balance at 31 March 2024 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary 1 10 10

10. RESERVES
Retained
earnings
£   

At 1 April 2023 (7,642 )
Profit for the year 152
At 31 March 2024 (7,490 )

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
K A Murray
Balance outstanding at start of year (11,959 ) -
Amounts repaid (1,401 ) 3,454
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,558 ) (11,959 )

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
K Murray Electrical Limited

The following reproduces the text of the report prepared for the director 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 Director 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 K Murray Electrical Limited for the year ended 31 March 2024 which comprise the Income Statement, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of K Murray Electrical Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K Murray Electrical Limited and state those matters that we have agreed to state to the director of K Murray Electrical Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that K Murray Electrical 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 K Murray Electrical Limited. You consider that K Murray Electrical 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 K Murray Electrical 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.






WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA


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