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COMPANY REGISTRATION NUMBER: 11004231
Ross Murdoch Limited
Filleted Unaudited Financial Statements
31 October 2023
Ross Murdoch Limited
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Ross Murdoch Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
828
2,034
Current assets
Cash at bank and in hand
3,227
12,982
Creditors: amounts falling due within one year
5
990
2,220
-------
--------
Net current assets
2,237
10,762
-------
--------
Total assets less current liabilities
3,065
12,796
Provisions
387
-------
--------
Net assets
3,065
12,409
-------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
3,064
12,408
-------
--------
Shareholder funds
3,065
12,409
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
R Murdoch
Director
Company registration number: 11004231
Ross Murdoch Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Hamlet Cottages, Old Whetsted Road, Five Oak Green, Tonbridge, TN12 6NW, UK.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation.
Depreciation
Depreciation is calculated to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
4. Tangible assets
Equipment
£
Cost
At 1 November 2022 and 31 October 2023
4,705
-------
Depreciation
At 1 November 2022
2,671
Charge for the year
1,206
-------
At 31 October 2023
3,877
-------
Carrying amount
At 31 October 2023
828
-------
At 31 October 2022
2,034
-------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,040
Other creditors
990
180
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-------
990
2,220
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