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REGISTERED NUMBER: SC059841 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Murray & Wilson(Joiners)Limited

Murray & Wilson(Joiners)Limited (Registered number: SC059841)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Murray & Wilson(Joiners)Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P I Murray
Mrs R Murray





SECRETARY: Mrs R Murray





REGISTERED OFFICE: School Green
Anstruther
Fife
KY10 3HF





REGISTERED NUMBER: SC059841 (Scotland)

Murray & Wilson(Joiners)Limited (Registered number: SC059841)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,922 10,525
Investment property 5 2,451,694 2,451,694
2,460,616 2,462,219

CURRENT ASSETS
Stocks 50,625 56,819
Debtors 6 58,609 70,440
Cash at bank and in hand 650,839 594,755
760,073 722,014
CREDITORS
Amounts falling due within one year 7 32,309 16,608
NET CURRENT ASSETS 727,764 705,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,188,380

3,167,625

PROVISIONS FOR LIABILITIES 386,879 386,941
NET ASSETS 2,801,501 2,780,684

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 2,799,501 2,778,684
SHAREHOLDERS' FUNDS 2,801,501 2,780,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

Murray & Wilson(Joiners)Limited (Registered number: SC059841)

Balance Sheet - continued
30 April 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 31 January 2025 and were signed on its behalf by:





P I Murray - Director


Murray & Wilson(Joiners)Limited (Registered number: SC059841)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Murray & Wilson(Joiners)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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment property at fair value.

Turnover
Turnover represents the net amount received or receivable, excluding value added tax, for goods and services supplied in the normal course of business and, in respect of incomplete contracts the fair value of work executed during the year by reference to the stage of completion at the reporting date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is property which is held to earn rentals and /or for capital appreciation and is initially recognised at cost, which is its purchase price and any directly attributable expenditure. Thereafter it is included at fair value at each reporting date. Any aggregate gains or losses arising from changes in fair value is recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and where applicable direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Murray & Wilson(Joiners)Limited (Registered number: SC059841)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 2 (2023 - 3 ) .

Murray & Wilson(Joiners)Limited (Registered number: SC059841)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 5,531 23,210 16,660 42,203 87,604
DEPRECIATION
At 1 May 2023 1,739 22,988 15,474 36,878 77,079
Charge for year 55 55 297 1,196 1,603
At 30 April 2024 1,794 23,043 15,771 38,074 78,682
NET BOOK VALUE
At 30 April 2024 3,737 167 889 4,129 8,922
At 30 April 2023 3,792 222 1,186 5,325 10,525

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,451,694
NET BOOK VALUE
At 30 April 2024 2,451,694
At 30 April 2023 2,451,694

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 456,500
Valuation in 2021 87,000
Valuation in 2017 131,362
Valuation in 2016 297,411
Valuation in 2012 3,957
Valuation in 2010 195,580
Valuation in 2009 372,991
Cost 906,893
2,451,694

If investment property had not been revalued it would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 906,893 906,893

Included in investment property are 16 properties in the East Neuk of Fife. The fair value of the investment property has been determined by the directors.

Murray & Wilson(Joiners)Limited (Registered number: SC059841)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 22,655 23,740
Other debtors 35,954 46,700
58,609 70,440

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 2,455 2,967
Taxation and social security 70 1,116
Other creditors 29,784 12,525
32,309 16,608

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Mrs R Murray
Balance outstanding at start of year 5,128 5,869
Amounts advanced - 4,672
Amounts repaid (5,128 ) (5,413 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,128

P I Murray
Balance outstanding at start of year 5,074 5,865
Amounts advanced - 4,672
Amounts repaid (5,074 ) (5,463 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,074

There is no interest charged on the outstanding amounts.

9. ULTIMATE CONTROLLING PARTY



During the year the company was controlled by its Directors, Mr P Murray and Mrs R Murray, by virtue of their shareholdings and directorship.