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REGISTERED NUMBER: NI013924 (Northern Ireland)















DAVID MURPHY TOWING BRACKETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2023






DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


DAVID MURPHY TOWING BRACKETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: J D Murphy



SECRETARY:



REGISTERED OFFICE: 182 Belfast Road
Carryduff
Belfast
Co. Antrim
BT8 8AS



REGISTERED NUMBER: NI013924 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Ltd
2 Caledon Road
Aughnacloy
Co. Tyrone
BT69 6AL

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DAVID MURPHY TOWING BRACKETS 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 accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 30 November 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


28 November 2024

DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,512 67,527

CURRENT ASSETS
Stocks 5 382,350 473,011
Debtors 6 418,227 319,499
Cash at bank 246,118 312,824
1,046,695 1,105,334
CREDITORS
Amounts falling due within one year 7 298,251 310,825
NET CURRENT ASSETS 748,444 794,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

853,956

862,036

PROVISIONS FOR LIABILITIES (7,848 ) (7,839 )

ACCRUALS AND DEFERRED INCOME - (960 )
NET ASSETS 846,108 853,237

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 8 821,108 828,237
SHAREHOLDERS' FUNDS 846,108 853,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)

BALANCE SHEET - continued
30 NOVEMBER 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 director and authorised for issue on 28 November 2024 and were signed by:





J D Murphy - Director


DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

David Murphy Towing Brackets Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Land & Building - straight line over 50 years
Plant & Machinery - 12.5% straight line
Fixtures & Fittings - 12.5% straight line
Computer Equipment - 20% straight line
Motor Vehicles - 25% reducing balance

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

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.


DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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.

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 14 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land & Plant and and
buildings machinery fittings
£    £    £   
COST
At 1 December 2022 78,628 479,163 19,653
Additions - 699 -
At 30 November 2023 78,628 479,862 19,653
DEPRECIATION
At 1 December 2022 55,328 471,395 15,573
Charge for year 1,489 1,795 583
At 30 November 2023 56,817 473,190 16,156
NET BOOK VALUE
At 30 November 2023 21,811 6,672 3,497
At 30 November 2022 23,300 7,768 4,080

DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 73,315 89,077 739,836
Additions 62,995 2,845 66,539
At 30 November 2023 136,310 91,922 806,375
DEPRECIATION
At 1 December 2022 54,486 75,527 672,309
Charge for year 20,456 4,231 28,554
At 30 November 2023 74,942 79,758 700,863
NET BOOK VALUE
At 30 November 2023 61,368 12,164 105,512
At 30 November 2022 18,829 13,550 67,527

5. STOCKS
2023 2022
£    £   
Stocks 382,350 473,011

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 173,997 173,995
Sundry debtors 221,359 123,945
Prepayments and accrued income 22,871 21,559
418,227 319,499

DAVID MURPHY TOWING BRACKETS LIMITED (REGISTERED NUMBER: NI013924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,879 1,788
Trade creditors 76,591 70,084
Corporation tax 8,421 10,691
Social security and other taxes 4,555 4,640
VAT 42,346 40,914
Sundry debtors - 38,456
Sundry creditors 44,671 44,671
Accruals 119,788 99,581
298,251 310,825

8. RESERVES
Retained
earnings
£   

At 1 December 2022 828,237
Deficit for the year (1,929 )
Dividends (5,200 )
At 30 November 2023 821,108

9. RELATED PARTY DISCLOSURES

During the year the company maintained loans with its key employees. The balance due to the company at the balance sheet date was £221,359 (2022 £123,945) and is reported in other debtors.