0 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 504 504 504 xbrli:pure xbrli:shares iso4217:GBP SC217846 2023-09-01 2024-08-31 SC217846 2024-08-31 SC217846 2023-08-31 SC217846 2022-09-01 2023-08-31 SC217846 2023-08-31 SC217846 2022-08-31 SC217846 core:Subsidiary1 2023-09-01 2024-08-31 SC217846 core:Subsidiary2 2023-09-01 2024-08-31 SC217846 core:MotorVehicles 2023-09-01 2024-08-31 SC217846 bus:Director1 2023-09-01 2024-08-31 SC217846 core:MotorVehicles 2023-08-31 SC217846 core:MotorVehicles 2024-08-31 SC217846 core:WithinOneYear 2024-08-31 SC217846 core:WithinOneYear 2023-08-31 SC217846 core:AfterOneYear 2024-08-31 SC217846 core:AfterOneYear 2023-08-31 SC217846 core:ShareCapital 2024-08-31 SC217846 core:ShareCapital 2023-08-31 SC217846 core:CapitalRedemptionReserve 2024-08-31 SC217846 core:CapitalRedemptionReserve 2023-08-31 SC217846 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC217846 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC217846 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 SC217846 core:Non-currentFinancialInstruments 2024-08-31 SC217846 core:Non-currentFinancialInstruments 2023-08-31 SC217846 core:MotorVehicles 2023-08-31 SC217846 bus:SmallEntities 2023-09-01 2024-08-31 SC217846 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC217846 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC217846 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC217846 bus:FullAccounts 2023-09-01 2024-08-31 SC217846 core:FurnitureFittings 2023-09-01 2024-08-31 SC217846 core:FurnitureFittings 2024-08-31 SC217846 core:FurnitureFittings 2023-08-31 SC217846 core:AfterOneYear 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: SC217846
Epoch Property Limited, (T/A Murphy Young Property)
Filleted Unaudited Financial Statements
For the year ended
31 August 2024
Epoch Property Limited, (T/A Murphy Young Property)
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
2,978
4,438
Investments
5
504
504
-------
-------
3,482
4,942
Current assets
Stocks
8,628,792
8,579,193
Debtors
6
3,015,067
3,642,797
Cash at bank and in hand
843,080
421,456
-------------
-------------
12,486,939
12,643,446
Creditors: amounts falling due within one year
7
3,377,447
1,256,582
-------------
-------------
Net current assets
9,109,492
11,386,864
------------
-------------
Total assets less current liabilities
9,112,974
11,391,806
Creditors: amounts falling due after more than one year
8
6,430,185
8,979,786
------------
-------------
Net assets
2,682,789
2,412,020
------------
-------------
Capital and reserves
Called up share capital
70
70
Capital redemption reserve
30
30
Profit and loss account
2,682,689
2,411,920
------------
------------
Shareholders funds
2,682,789
2,412,020
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Epoch Property Limited, (T/A Murphy Young Property)
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 30 May 2025 , and are signed on behalf of the board by:
G P Murphy
Director
Company registration number: SC217846
Epoch Property Limited, (T/A Murphy Young Property)
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Ellismuir House, Ellismuir Way, Tannochside Park, Glasgow, Scotland, G71 5PW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
Turnover represents amounts derived from letting of development properties, and construction contracts together with related services, net of value added tax, which fall within the company's ordinary activities. The turnover and pre-tax profit is attributable to the company's activities which are carried on in the United Kingdom.
Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. For an expense to be capitalised, it will have a minimum value of £500.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash flows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the financial instrument. Basic financial assets, which include trade and other debtors, amounts due from group undertakings, and cash and bank balances, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade creditors, bank loans and overdrafts, and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
5,850
15,294
21,144
-------
--------
--------
Depreciation
At 1 September 2023
5,558
11,148
16,706
Charge for the year
292
1,168
1,460
-------
--------
--------
At 31 August 2024
5,850
12,316
18,166
-------
--------
--------
Carrying amount
At 31 August 2024
2,978
2,978
-------
--------
--------
At 31 August 2023
292
4,146
4,438
-------
--------
--------
5. Investments
Shares in group undertakings
£
Cost
At 1 September 2023 and 31 August 2024
504
----
Impairment
At 1 September 2023 and 31 August 2024
----
Carrying amount
At 31 August 2024
504
----
At 31 August 2023
504
----
Subsidiaries, associates and other investments
Registered office
Class of share
Percentage of shares held
Subsidiary undertakings
ARCA Business Centres Limited
Ellismuir House
Ordinary £1
100
Ellismuir Way
Tannochside Park
Glasgow
G71 5PW
Kota Property Limited
Ellismuir House
Ordinary £1
100
Ellismuir Way
Tannochside Park
Glasgow
G71 5PW
6. Debtors
2024
2023
£
£
Trade debtors
308,160
104,258
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,578,666
2,588,379
Other debtors
128,241
950,160
------------
------------
3,015,067
3,642,797
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,333,619
364,359
Trade creditors
81,079
13,126
Corporation tax
117,817
90,531
Social security and other taxes
100,671
99,616
Other creditors
744,261
688,950
------------
------------
3,377,447
1,256,582
------------
------------
The bank loans and overdrafts are secured with a fixed and floating charge over the assets of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,430,185
8,979,786
------------
------------
The bank loans and overdrafts are secured with a fixed and floating charge over the assets of the company.
9. Director's advances, credits and guarantees
During the year, the company operated a director's loan account with Glenn Murphy, director. The total amount advanced during the year was £6,500 (2023: £31,000). An amount of £Nil (2023: £Nil) was due from the director to the company at the year end.