Company registration number 07254725 (England and Wales)
MURTON & CO. LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
MURTON & CO. LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
MURTON & CO. LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MURTON & CO. LIMITED FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Murton & Co. Limited for the year ended 31 January 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Murton & Co. Limited, as a body, in accordance with the terms of our engagement letter dated 25 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Murton & Co. Limited and state those matters that we have agreed to state to the board of directors of Murton & Co. Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Murton & Co. Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Murton & Co. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Murton & Co. Limited. You consider that Murton & Co. Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Murton & Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Waters & Atkinson
Chartered Accountants
The Old Court House
Clark Street
Morecambe
Lancashire
LA4 5HR
5 June 2025
MURTON & CO. LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
44,365
56,187
Current assets
Debtors
13,548
43,918
Cash at bank and in hand
12,960
18,132
26,508
62,050
Creditors: amounts falling due within one year
(48,443)
(52,289)
Net current (liabilities)/assets
(21,935)
9,761
Total assets less current liabilities
22,430
65,948
Creditors: amounts falling due after more than one year
(13,898)
(25,070)
Provisions for liabilities
(8,055)
(10,676)
Net assets
477
30,202
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
475
30,200
Total equity
477
30,202
MURTON & CO. LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025
31 January 2025
- 3 -
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 5 June 2025 and are signed on its behalf by:
Ms CJ Lavelle
Director
Company registration number 07254725 (England and Wales)
MURTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information
Murton & Co. Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Royal Oak Meadow, Hornby, Lancaster, Lancashire, LA2 8LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, and notwithstanding the net current liabilities of £21,935, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
Computers
40% reducing balance
Motor vehicles
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
MURTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
4
3
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2024
36,261
6,299
39,987
82,547
Additions
2,920
2,920
At 31 January 2025
36,261
9,219
39,987
85,467
Depreciation and impairment
At 1 February 2024
9,802
5,461
11,097
26,360
Depreciation charged in the year
3,969
776
9,997
14,742
At 31 January 2025
13,771
6,237
21,094
41,102
MURTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
(Continued)
- 6 -
Carrying amount
At 31 January 2025
22,490
2,982
18,893
44,365
At 31 January 2024
26,459
838
28,890
56,187
4
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
C Lavelle
-
1,577
(3,025)
(1,448)
J Murton
-
3,647
(7,413)
(3,766)
5,224
(10,438)
(5,214)