Registered number
02878361
Murray Rix (Northern) Limited
Unaudited Filleted Accounts
31 December 2024
Murray Rix (Northern) Limited
Registered number: 02878361
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 195,874 204,953
Current assets
Stocks 1,767 4,996
Debtors 4 530,156 552,874
Cash at bank and in hand 503,115 428,729
1,035,038 986,599
Creditors: amounts falling due within one year 5 (295,839) (309,649)
Net current assets 739,199 676,950
Total assets less current liabilities 935,073 881,903
Creditors: amounts falling due after more than one year 6 (11,547) (21,609)
Provisions for liabilities (51,884) (51,124)
Net assets 871,642 809,170
Capital and reserves
Called up share capital 160 160
Revaluation reserve 7 140 140
Profit and loss account 871,342 808,870
Shareholders' funds 871,642 809,170
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O P Davies
Director
Approved by the board on 25 April 2025
Murray Rix (Northern) Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Revenue includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% pa reducing basis
Motor vehicles 25% pa straight line basis
Furniture and equipment 20% pa reducing basis
Stock
Stock and work in progress are valued at the lower of cost and net realisable value after making allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Employee benefits
Short-term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.
Pensions
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions of £90739 (£90016 - 2022) have been paid during the accounting period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 16
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 22,350 350,895 171,894 545,139
Additions 4,500 5,951 43,500 53,951
Disposals - - (14,373) (14,373)
At 31 December 2024 26,850 356,846 201,021 584,717
Depreciation
At 1 January 2024 - 230,101 110,085 340,186
Charge for the year - 30,054 32,976 63,030
On disposals - - (14,373) (14,373)
At 31 December 2024 - 260,155 128,688 388,843
Net book value
At 31 December 2024 26,850 96,691 72,333 195,874
At 31 December 2023 22,350 120,793 61,809 204,953
4 Debtors 2024 2023
£ £
Trade debtors 319,789 329,817
Amounts owed by group undertakings and undertakings in which the company has a participating interest 190,000 190,000
Other debtors 20,367 33,057
530,156 552,874
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 12,401 26,164
Trade creditors 42,650 52,182
Other taxes and social security costs 224,921 218,225
Other creditors 15,867 13,078
295,839 309,649
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 11,547 21,609
7 Revaluation reserve 2024 2023
£ £
Company buy back of own shares 140 140
At 31 December 2024 140 140
8 Other information
Murray Rix (Northern) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Andrew House
Hadfield Street
Dukinfield
SK16 4QX
The financial statements are presented in Sterling, which is the functional currency of the company.
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