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Registered number: 05829152
Stuart McMurchy & Sons Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
SFB Group Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05829152
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 842,443 918,689
842,443 918,689
CURRENT ASSETS
Debtors 6 389,942 433,217
Cash at bank and in hand 33,356 99,559
423,298 532,776
Creditors: Amounts Falling Due Within One Year 7 (973,075 ) (718,860 )
NET CURRENT ASSETS (LIABILITIES) (549,777 ) (186,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES 292,666 732,605
Creditors: Amounts Falling Due After More Than One Year 8 (122,582 ) (294,096 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (65,278 ) (173,482 )
NET ASSETS 104,806 265,027
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 104,706 264,927
SHAREHOLDERS' FUNDS 104,806 265,027
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
W McMurchy
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stuart McMurchy & Sons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05829152 . The registered office is Manor Court Chambers, Townsend Drive, Nuneaton, Warwickshire, CV11 6RU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
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.
2.5. Tangible Fixed Assets and Depreciation
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.
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on reducing balance
Computer Equipment 25% on reducing balance
2.6. Leasing and Hire Purchase Contracts
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.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.
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2.8. Pensions
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. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 13)
14 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 20,000
As at 31 March 2024 20,000
Amortisation
As at 1 April 2023 20,000
As at 31 March 2024 20,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 2,026,462 101,165 6,543 10,317 2,144,487
Additions 31,750 109,100 - - 140,850
As at 31 March 2024 2,058,212 210,265 6,543 10,317 2,285,337
Depreciation
As at 1 April 2023 1,146,109 69,839 1,244 8,606 1,225,798
Provided during the period 182,421 33,717 530 428 217,096
As at 31 March 2024 1,328,530 103,556 1,774 9,034 1,442,894
Net Book Value
As at 31 March 2024 729,682 106,709 4,769 1,283 842,443
As at 1 April 2023 880,353 31,326 5,299 1,711 918,689
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 576,177 720,223
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 387,727 431,002
Other debtors 2,215 2,215
389,942 433,217
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 218,643 225,837
Trade creditors 229,883 225,083
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 7,051 5,691
Other creditors 275,709 66,203
Taxation and social security 231,789 186,046
973,075 718,860
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 110,915 272,429
Bank loans 11,667 21,667
122,582 294,096
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5