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REGISTERED NUMBER: 09484720 (England and Wales)









N & J MURPHY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)






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


N & J MURPHY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr N J W Murphy
Dr J R Murphy





REGISTERED OFFICE: Billingshurst Dental Practice
114 High Street
Billingshurst
West Sussex
RH14 9QS





REGISTERED NUMBER: 09484720 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 186,000 201,500
Tangible assets 5 116,247 84,126
302,247 285,626

CURRENT ASSETS
Debtors 6 95,153 82,404
Cash at bank and in hand 32,023 42,673
127,176 125,077
CREDITORS
Amounts falling due within one year 7 71,542 72,941
NET CURRENT ASSETS 55,634 52,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

357,881

337,762

CREDITORS
Amounts falling due after more than one
year

8

(153,117

)

(165,430

)

PROVISIONS FOR LIABILITIES 9 (28,312 ) (19,802 )
NET ASSETS 176,452 152,530

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 176,352 152,430
SHAREHOLDERS' FUNDS 176,452 152,530

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.

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

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 27 February 2025 and were signed on its behalf by:





Dr N J W Murphy - Director


N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

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

1. STATUTORY INFORMATION

N & J Murphy Limited is a private company, limited by shares , registered in England and Wales. 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 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 certain assets.

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, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty 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.
Improvements to property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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.


N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 310,000
AMORTISATION
At 1 April 2023 108,500
Amortisation for year 15,500
At 31 March 2024 124,000
NET BOOK VALUE
At 31 March 2024 186,000
At 31 March 2023 201,500

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 69,475 94,542 22,231 6,917 193,165
Additions 29,222 21,633 - - 50,855
At 31 March 2024 98,697 116,175 22,231 6,917 244,020
DEPRECIATION
At 1 April 2023 9,658 73,224 19,633 6,524 109,039
Charge for year 1,974 15,236 1,142 382 18,734
At 31 March 2024 11,632 88,460 20,775 6,906 127,773
NET BOOK VALUE
At 31 March 2024 87,065 27,715 1,456 11 116,247
At 31 March 2023 59,817 21,318 2,598 393 84,126

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 33,858
DEPRECIATION
At 1 April 2023
and 31 March 2024 33,858
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,158 48,955
Other debtors 52,995 33,449
95,153 82,404

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,490 22,909
Hire purchase contracts 7,499 4,692
Trade creditors 9,600 13,067
Taxation and social security 25,151 16,756
Other creditors 5,802 15,517
71,542 72,941

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 130,596 154,091
Hire purchase contracts 22,521 11,339
153,117 165,430

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 54,726 72,155

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 28,312 19,802

Deferred
tax
£   
Balance at 1 April 2023 19,802
Accelerated capital allowances 8,510
Balance at 31 March 2024 28,312

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

N & J MURPHY LIMITED (REGISTERED NUMBER: 09484720)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Dr N J W Murphy and Dr J R Murphy
Balance outstanding at start of year 29,884 11,237
Amounts advanced 193,242 168,614
Amounts repaid (188,786 ) (149,967 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,340 29,884

12. ULTIMATE CONTROLLING PARTY

The company is controlled equally by its directors.