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REGISTERED NUMBER: SC296829 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)






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


JOHN MURPHY & COMPANY (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Murphy C.A.
Mrs E Murphy





SECRETARY: J Murphy C.A.





REGISTERED OFFICE: Castle Chambers
67 Main Street
Bothwell
Glasgow
G71 8ER





REGISTERED NUMBER: SC296829 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3 9,157
Tangible assets 5 57,568 2,201
57,571 11,358

CURRENT ASSETS
Stocks 13,686 17,357
Debtors 6 78,967 42,290
Cash at bank 1,056 6,475
93,709 66,122
CREDITORS
Amounts falling due within one year 7 105,861 76,825
NET CURRENT LIABILITIES (12,152 ) (10,703 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,419

655

CREDITORS
Amounts falling due after more than one
year

8

(33,637

)

-

PROVISIONS FOR LIABILITIES 10 (10,931 ) (410 )
NET ASSETS 851 245

CAPITAL AND RESERVES
Called up share capital 11 120 120
Retained earnings 731 125
SHAREHOLDERS' FUNDS 851 245

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 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.

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)

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 Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





J Murphy C.A. - Director


JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

John Murphy & Company (Scotland) 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.

Goodwill
Goodwill in respect of the amounts paid in connection with the acquisition of businesses between 2004 and 2013, is being amortised evenly over their estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 306,630
AMORTISATION
At 1 April 2023 297,473
Amortisation for year 9,154
At 31 March 2024 306,627
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 9,157

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 5,769 - 4,767 10,536
Additions 1,285 67,165 1,514 69,964
At 31 March 2024 7,054 67,165 6,281 80,500
DEPRECIATION
At 1 April 2023 4,359 - 3,976 8,335
Charge for year 1,019 12,593 985 14,597
At 31 March 2024 5,378 12,593 4,961 22,932
NET BOOK VALUE
At 31 March 2024 1,676 54,572 1,320 57,568
At 31 March 2023 1,410 - 791 2,201

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 67,165
At 31 March 2024 67,165
DEPRECIATION
Charge for year 12,593
At 31 March 2024 12,593
NET BOOK VALUE
At 31 March 2024 54,572

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 27,697 21,139
Directors' current accounts 49,091 19,450
Prepayments and accrued income 2,179 1,701
78,967 42,290

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 48,550 -
Hire purchase contracts 10,682 -
Corporation tax 9,950 33,037
Payroll taxation 3,106 2,444
VAT 27,761 33,679
Client funds held 1,056 2,640
Accrued charges 4,756 5,025
105,861 76,825

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 33,637 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdraft 48,550 -

JOHN MURPHY & COMPANY (SCOTLAND) LIMITED (REGISTERED NUMBER: SC296829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 10,931 410

Deferred
tax
£   
Balance at 1 April 2023 410
Provided during year 10,521
Balance at 31 March 2024 10,931

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
120 Ordinary £1 120 120

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
J Murphy C.A.
Balance outstanding at start of year 19,450 22,998
Amounts advanced 49,091 19,450
Amounts repaid (19,450 ) (22,998 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,091 19,450

The overdrawn director's loan account was repaid in full on 19th November 2024.

13. ULTIMATE CONTROLLING PARTY

The controlling party is J Murphy C.A..