Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr C J Murray 17/12/2001 18 July 2025 The principal activity of the Company during the year was the online sale of books. 04341494 2024-12-31 04341494 bus:Director1 2024-12-31 04341494 2023-12-31 04341494 core:CurrentFinancialInstruments 2024-12-31 04341494 core:CurrentFinancialInstruments 2023-12-31 04341494 core:Non-currentFinancialInstruments 2024-12-31 04341494 core:Non-currentFinancialInstruments 2023-12-31 04341494 core:ShareCapital 2024-12-31 04341494 core:ShareCapital 2023-12-31 04341494 core:RetainedEarningsAccumulatedLosses 2024-12-31 04341494 core:RetainedEarningsAccumulatedLosses 2023-12-31 04341494 core:LeaseholdImprovements 2023-12-31 04341494 core:PlantMachinery 2023-12-31 04341494 core:Vehicles 2023-12-31 04341494 core:FurnitureFittings 2023-12-31 04341494 core:ComputerEquipment 2023-12-31 04341494 core:LeaseholdImprovements 2024-12-31 04341494 core:PlantMachinery 2024-12-31 04341494 core:Vehicles 2024-12-31 04341494 core:FurnitureFittings 2024-12-31 04341494 core:ComputerEquipment 2024-12-31 04341494 bus:OrdinaryShareClass1 2024-12-31 04341494 2024-01-01 2024-12-31 04341494 bus:FilletedAccounts 2024-01-01 2024-12-31 04341494 bus:SmallEntities 2024-01-01 2024-12-31 04341494 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04341494 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04341494 bus:Director1 2024-01-01 2024-12-31 04341494 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 04341494 core:PlantMachinery 2024-01-01 2024-12-31 04341494 core:Vehicles 2024-01-01 2024-12-31 04341494 core:FurnitureFittings 2024-01-01 2024-12-31 04341494 core:ComputerEquipment 2024-01-01 2024-12-31 04341494 2023-01-01 2023-12-31 04341494 core:LeaseholdImprovements 2024-01-01 2024-12-31 04341494 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 04341494 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 04341494 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04341494 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04341494 (England and Wales)

CHRISTIAN MURRAY FINANCIAL SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CHRISTIAN MURRAY FINANCIAL SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CHRISTIAN MURRAY FINANCIAL SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
CHRISTIAN MURRAY FINANCIAL SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 661,187 497,661
661,187 497,661
Current assets
Stocks 3,791,301 3,628,645
Debtors 4 352,903 337,834
Cash at bank and in hand 54,362 4,916
4,198,566 3,971,395
Creditors: amounts falling due within one year 5 ( 1,810,717) ( 891,555)
Net current assets 2,387,849 3,079,840
Total assets less current liabilities 3,049,036 3,577,501
Creditors: amounts falling due after more than one year 6 ( 118,187) ( 383,965)
Provision for liabilities ( 143,710) ( 102,116)
Net assets 2,787,139 3,091,420
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 2,787,137 3,091,418
Total shareholders' funds 2,787,139 3,091,420

For the financial year ending 31 December 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 financial statements of Christian Murray Financial Services Limited (registered number: 04341494) were approved and authorised for issue by the Director on 18 July 2025. They were signed on its behalf by:

Mr C J Murray
Director
CHRISTIAN MURRAY FINANCIAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CHRISTIAN MURRAY FINANCIAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Christian Murray Financial Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brock Hill, Halwell, Totnes, TQ9 7JG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern
Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 19 19

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 January 2024 165,135 384,143 51,595 139,582 59,925 800,380
Additions 16,610 12,838 235,276 46,702 13,599 325,025
Disposals 0 0 ( 51,595) 0 0 ( 51,595)
At 31 December 2024 181,745 396,981 235,276 186,284 73,524 1,073,810
Accumulated depreciation
At 01 January 2024 11,400 156,472 25,005 66,111 43,731 302,719
Charge for the financial year 33,172 58,388 16,051 22,934 6,580 137,125
Disposals 0 0 ( 27,221) 0 0 ( 27,221)
At 31 December 2024 44,572 214,860 13,835 89,045 50,311 412,623
Net book value
At 31 December 2024 137,173 182,121 221,441 97,239 23,213 661,187
At 31 December 2023 153,735 227,671 26,590 73,471 16,194 497,661

4. Debtors

2024 2023
£ £
Trade debtors 162,657 221,942
Prepayments 41,324 91,351
VAT recoverable 140,922 16,541
Other debtors 8,000 8,000
352,903 337,834

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 45,802
Trade creditors 69,241 78,899
Amounts owed to director 506,449 35,744
Accruals 8,268 4,440
Taxation and social security 445,958 541,655
Obligations under finance leases and hire purchase contracts (secured) 46,877 40,063
Other creditors 733,924 144,952
1,810,717 891,555

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 375,138
Obligations under finance leases and hire purchase contracts (secured) 118,187 8,827
118,187 383,965

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,129 0

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Owed to the director 506,449 35,744