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REGISTERED NUMBER: 09033637 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BHATT MURPHY LIMITED

BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BHATT MURPHY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: M P Scott
C E Gallwey
S Dutta
M J Phillips
M A Oswald
J E Ryan





REGISTERED OFFICE: 10 Tyssen Street
London
E8 2FE





REGISTERED NUMBER: 09033637 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,075,000 2,075,000
Tangible assets 5 112,680 140,244
2,187,680 2,215,244

CURRENT ASSETS
Stocks 6 1,393,967 1,451,477
Debtors 7 323,079 275,045
Cash at bank and in hand 1,062,183 1,084,466
2,779,229 2,810,988
CREDITORS
Amounts falling due within one year 8 715,752 740,683
NET CURRENT ASSETS 2,063,477 2,070,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,251,157

4,285,549

CREDITORS
Amounts falling due after more than one
year

9

323,822

311,730
NET ASSETS 3,927,335 3,973,819

CAPITAL AND RESERVES
Called up share capital 11 900,000 900,000
Retained earnings 12 3,027,335 3,073,819
SHAREHOLDERS' FUNDS 3,927,335 3,973,819

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

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

BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

BALANCE SHEET - continued
30 SEPTEMBER 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 6 May 2025 and were signed on its behalf by:





M P Scott - Director


BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Bhatt 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 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.

Management have complied with the applicable accounting standards above other than departing from a particular requirement of the standards to the extent necessary to give a true and fair view. Management has concluded that with this departure, the financial statements give a true and fair view of the entity's financial position and financial performance.

Specifically, in the current period, management have not amortised the Goodwill recognised on incorporation of the business. Instead they have conducted an impairment review. This has resulted in no amortisation or impairments in respect of Goodwill in the current period.

The above accounting standards dictate that Goodwill must be amortised over a maximum useful life of 10 years. However, the currently stated remaining value of the original Goodwill is deemed to still exist and management believe that further amortisation would misrepresent the value of the business.

In place of amortisation, an annual impairment review will be undertaken.

Turnover
Turnover is recognised on the basis of time spent by employees on client projects. The company's revenue is generated from the provision of legal services, which are billed at hourly rates. Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill is subject to an annual impairment review.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Work in progress
Work in progress represents the value of legal services rendered but not yet billed. The work in progress is measured at the lower of cost and net realisable value.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.


BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 46 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 4,000,000
AMORTISATION
At 1 October 2023
and 30 September 2024 1,925,000
NET BOOK VALUE
At 30 September 2024 2,075,000
At 30 September 2023 2,075,000

BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 212,770 257,478 470,248
Additions - 16,570 16,570
At 30 September 2024 212,770 274,048 486,818
DEPRECIATION
At 1 October 2023 148,939 181,065 330,004
Charge for year 21,277 22,857 44,134
At 30 September 2024 170,216 203,922 374,138
NET BOOK VALUE
At 30 September 2024 42,554 70,126 112,680
At 30 September 2023 63,831 76,413 140,244

6. STOCKS
30.9.24 30.9.23
£    £   
Work-in-progress 1,393,967 1,451,477

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 277,446 232,485
Other debtors 45,633 42,560
323,079 275,045

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 225,351 322,268
Trade creditors 27,084 12,895
Taxation and social security 433,154 350,867
Other creditors & accruals 30,163 54,653
715,752 740,683

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Other creditors 323,822 311,730

BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 216,667 316,667

The bank loans were secured by fixed and floating charges with negative pledge over all the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
900,000 Ordinary £1 900,000 900,000

150,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

The company repurchased and subsequently cancelled a total of 150,000 shares. These were class E Ordinary shares at a nominal value of £1 each. The company paid an aggregate amount of £456,751. The repurchase and cancellation resulted in a reduction in share capital of £150,000, representing the par value of the shares. The excess paid over the par value, totaling £306,261 was deducted from retained earnings.

12. RESERVES
Retained
earnings
£   

At 1 October 2023 3,073,819
Profit for the year 748,721
Dividends (488,944 )
Purchase of own shares (306,261 )
At 30 September 2024 3,027,335

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans from directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
M P Scott
Balance outstanding at start of year (342 ) (342 )
Amounts advanced 21,700 24,152
Amounts repaid (21,700 ) (24,152 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (342 ) (342 )

BHATT MURPHY LIMITED (REGISTERED NUMBER: 09033637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P A Murphy
Balance outstanding at start of year (490 ) (490 )
Amounts advanced - 22,115
Amounts repaid 490 (22,115 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (490 )

J E Ryan
Balance outstanding at start of year - -
Amounts advanced 6,856 -
Amounts repaid (6,856 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

C E Gallwey
Balance outstanding at start of year - -
Amounts advanced 29,836 23,594
Amounts repaid (29,836 ) (23,594 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

S Dutta
Balance outstanding at start of year - (1 )
Amounts advanced 34,303 12,130
Amounts repaid (34,303 ) (12,129 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

M J Phillips
Balance outstanding at start of year - (1 )
Amounts advanced 25,622 11,129
Amounts repaid (25,622 ) (11,128 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

M A Oswald
Balance outstanding at start of year - (1 )
Amounts advanced 17,785 15,696
Amounts repaid (17,785 ) (15,695 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loans from directors are included within Other Creditors due within one year.