Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-31false2023-11-01No description of principal activityfalse1414falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03011012 2023-11-01 2024-10-31 03011012 2022-08-01 2023-10-31 03011012 2024-10-31 03011012 2023-10-31 03011012 c:Director1 2023-11-01 2024-10-31 03011012 d:Buildings 2023-11-01 2024-10-31 03011012 d:Buildings 2024-10-31 03011012 d:Buildings 2023-10-31 03011012 d:Buildings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03011012 d:Buildings d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03011012 d:PlantMachinery 2023-11-01 2024-10-31 03011012 d:PlantMachinery 2024-10-31 03011012 d:PlantMachinery 2023-10-31 03011012 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03011012 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03011012 d:MotorVehicles 2023-11-01 2024-10-31 03011012 d:MotorVehicles 2024-10-31 03011012 d:MotorVehicles 2023-10-31 03011012 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03011012 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03011012 d:OfficeEquipment 2023-11-01 2024-10-31 03011012 d:OfficeEquipment 2024-10-31 03011012 d:OfficeEquipment 2023-10-31 03011012 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03011012 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03011012 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03011012 d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03011012 d:CurrentFinancialInstruments 2024-10-31 03011012 d:CurrentFinancialInstruments 2023-10-31 03011012 d:Non-currentFinancialInstruments 2024-10-31 03011012 d:Non-currentFinancialInstruments 2023-10-31 03011012 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 03011012 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 03011012 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 03011012 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 03011012 d:ShareCapital 2024-10-31 03011012 d:ShareCapital 2023-10-31 03011012 d:RetainedEarningsAccumulatedLosses 2024-10-31 03011012 d:RetainedEarningsAccumulatedLosses 2023-10-31 03011012 c:OrdinaryShareClass1 2023-11-01 2024-10-31 03011012 c:OrdinaryShareClass1 2024-10-31 03011012 c:OrdinaryShareClass1 2023-10-31 03011012 c:OrdinaryShareClass2 2023-11-01 2024-10-31 03011012 c:OrdinaryShareClass2 2024-10-31 03011012 c:OrdinaryShareClass2 2023-10-31 03011012 c:OrdinaryShareClass3 2023-11-01 2024-10-31 03011012 c:OrdinaryShareClass3 2024-10-31 03011012 c:OrdinaryShareClass3 2023-10-31 03011012 c:FRS102 2023-11-01 2024-10-31 03011012 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 03011012 c:FullAccounts 2023-11-01 2024-10-31 03011012 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03011012 d:HirePurchaseContracts d:WithinOneYear 2024-10-31 03011012 d:HirePurchaseContracts d:WithinOneYear 2023-10-31 03011012 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-10-31 03011012 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-10-31 03011012 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 03011012 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 03011012 d:TaxLossesCarry-forwardsDeferredTax 2024-10-31 03011012 d:TaxLossesCarry-forwardsDeferredTax 2023-10-31 03011012 2 2023-11-01 2024-10-31 03011012 6 2023-11-01 2024-10-31 03011012 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-10-31 03011012 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-31 03011012 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-10-31 03011012 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-31 03011012 d:LeasedAssetsHeldAsLessee 2024-10-31 03011012 d:LeasedAssetsHeldAsLessee 2023-10-31 03011012 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 03011012














MURSTON CONSTRUCTION LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 OCTOBER 2024

 
MURSTON CONSTRUCTION LIMITED
REGISTERED NUMBER: 03011012

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
476,009
550,063

Investments
 5 
200
200

  
476,209
550,263

Current assets
  

Stocks
  
9,016,605
9,633,223

Debtors: amounts falling due within one year
 6 
537,951
2,628,559

Cash at bank and in hand
 7 
2,622
2,869

  
9,557,178
12,264,651

Creditors: amounts falling due within one year
 8 
(8,249,274)
(10,242,151)

Net current assets
  
 
 
1,307,904
 
 
2,022,500

Total assets less current liabilities
  
1,784,113
2,572,763

Creditors: amounts falling due after more than one year
 9 
(21,526)
(98,187)

Provisions for liabilities
  

Deferred tax
 11 
-
(52,202)

Net assets
  
£1,762,587
£2,422,374


Capital and reserves
  

Called up share capital 
 13 
443,000
443,000

Profit and loss account
  
1,319,587
1,979,374

  
£1,762,587
£2,422,374


Page 1

 
MURSTON CONSTRUCTION LIMITED
REGISTERED NUMBER: 03011012

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 March 2025.




___________________________
Mr R J Allan
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

1.


General information

Murston Construction Limited is a private company, limited by shares, incorporated in England and Wales.
The registered number is 03011012.
The registered office is Henwood House, Henwood, Ashford, Kent, TN24 8DH.
The principal place of business is Unit 8, Muston Business Centre, Norman Road, Ashford, Kent, TN23 7AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in UK Sterling pounds (£) and rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows;.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
20% reducing balance basis
Motor vehicles
-
25% reducing balance basis
Office equipment
-
15% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 14 (2023 - 14).

Page 6

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
260,000
136,721
271,430
47,033
715,184


Disposals
-
(54,251)
-
-
(54,251)



At 31 October 2024

260,000
82,470
271,430
47,033
660,933



Depreciation


At 1 November 2023
-
51,504
76,849
36,768
165,121


Charge for the period on owned assets
-
31,385
5,895
1,539
38,819


Charge for the period on financed assets
-
(15,337)
42,750
-
27,413


Disposals
-
(46,429)
-
-
(46,429)



At 31 October 2024

-
21,123
125,494
38,307
184,924



Net book value



At 31 October 2024
£260,000
£61,347
£145,936
£8,726
£476,009



At 31 October 2023
£260,000
£85,217
£194,581
£10,265
£550,063

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
61,347
76,684

Motor vehicles
128,251
171,001

£189,598
£247,685

Page 7

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
200



At 31 October 2024
£200





6.


Debtors

2024
2023
£
£


Trade debtors
496,390
2,548,068

Other debtors
10,382
53,700

Prepayments and accrued income
31,179
26,791

£537,951
£2,628,559



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,622
2,869

Less: bank overdrafts
(576,765)
(270,184)

£(574,143)
£(267,315)


Page 8

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
576,765
270,184

Bank loans
6,678,987
8,540,770

Trade creditors
256,049
853,746

Amounts owed to group undertakings
200
200

Other taxation and social security
8,875
31,762

Obligations under finance lease and hire purchase contracts
76,663
94,915

Other creditors
605,159
299,758

Accruals and deferred income
46,576
150,816

£8,249,274
£10,242,151


Finance leases and hire purchase contracts are secured on the assets concerned.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
£21,526
£98,187


Finance leases and hire purchase contracts are secured on the assets concerned.


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
76,663
94,915

Between 1-5 years
21,525
98,187

£98,188
£193,102

Page 9

 
MURSTON CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

11.


Deferred taxation




2024


£






At beginning of year
52,202


Charged to profit or loss
(52,202)



At end of year
£-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
50,399
68,683

Tax losses carried forward
(50,399)
(16,481)

£-
£52,202


12.


Provisions










At 31 October 2024


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



354,400 (2023 - 354,400) Ordinary shares of £1.00 each
354,400
354,400
44,300 (2023 - 44,300) A Ordinary shares of £1.00 each
44,300
44,300
44,300 (2023 - 44,300) B Ordinary shares of £1.00 each
44,300
44,300

£443,000

£443,000



14.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,933 (2023 - £12,486). Contributions totalling £1,437 (2023 - £5,826) were payable to the fund at the balance sheet date and are included in creditors.

Page 10