Company registration number 01060666 (England and Wales)
L. G. MURPHY (SWANSEA) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
L. G. MURPHY (SWANSEA) LIMITED
COMPANY INFORMATION
Directors
Mr GJ Murphy
Mr AJ Murphy
Secretary
Miss MJ Murphy
Company number
01060666
Registered office
Suite 3
Unit 11, Prospect Park
Queensway Industrial Estate, Fforestfach
Swansea
West Glamorgan
SA5 4ED
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
L. G. MURPHY (SWANSEA) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
L. G. MURPHY (SWANSEA) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF L. G. MURPHY (SWANSEA) LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024
- 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 L. G. Murphy (Swansea) Limited for the year ended 31 December 2024 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 b oard of d irectors of L. G. Murphy (Swansea) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of L. G. Murphy (Swansea) Limited and state those matters that we have agreed to state to the b oard of d irectors of L. G. Murphy (Swansea) 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 L. G. Murphy (Swansea) Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that L. G. Murphy (Swansea) 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 profit of L. G. Murphy (Swansea) Limited. You consider that L. G. Murphy (Swansea) 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 L. G. Murphy (Swansea) 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 f inancial statements.

WBV Limited
Chartered Accountants
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY
Wales
23 July 2025
L. G. MURPHY (SWANSEA) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
458,071
555,222
Current assets
Stocks
5
152,265
74,670
Debtors
4
123,390
109,271
Cash at bank and in hand
27,200
50,944
302,855
234,885
Creditors: amounts falling due within one year
6
(205,678)
(169,037)
Net current assets
97,177
65,848
Total assets less current liabilities
555,248
621,070
Creditors: amounts falling due after more than one year
7
(46,183)
(109,154)
Provisions for liabilities
(107,372)
(56,200)
Net assets
401,693
455,716
Capital and reserves
Called up share capital
8
5,000
5,000
Profit and loss reserves
396,693
450,716
Total equity
401,693
455,716
L. G. MURPHY (SWANSEA) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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.

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 23 July 2025 and are signed on its behalf by:
Mr AJ Murphy
Director
Company registration number 01060666 (England and Wales)
L. G. MURPHY (SWANSEA) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

L. G. Murphy (Swansea) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 3, Unit 11, Prospect Park, Queensway Industrial Estate, Fforestfach, Swansea, West Glamorgan, SA5 4ED.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

1.3
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:

Freehold land and buildings
not provided
Leasehold improvements
not provided
Plant and machinery
25% on reducing balance and 10% on cost

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.

1.4
Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

L. G. MURPHY (SWANSEA) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.7

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 and loss in the period to which they relate.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
7
L. G. MURPHY (SWANSEA) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
180,430
687,157
867,587
Disposals
(60,143)
-
0
(60,143)
At 31 December 2024
120,287
687,157
807,444
Depreciation and impairment
At 1 January 2024
-
0
312,365
312,365
Depreciation charged in the year
-
0
37,008
37,008
At 31 December 2024
-
0
349,373
349,373
Carrying amount
At 31 December 2024
120,287
337,784
458,071
At 31 December 2023
180,430
374,792
555,222
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
68,502
27,513
Other debtors
54,888
81,758
123,390
109,271
5
Stocks
2024
2023
£
£
Stocks
1,250
1,250
Work in progress
151,015
73,420
152,265
74,670
L. G. MURPHY (SWANSEA) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,464
10,142
Trade creditors
123,836
77,765
Amounts owed to group undertakings and undertakings in which the company has a participating interest
230
230
Taxation and social security
12,088
10,938
Other creditors
59,060
69,962
205,678
169,037
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,548
15,913
Other creditors
40,635
93,241
46,183
109,154

Bank loans and overdrafts are secured on the company as a whole.

Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,000
5,000
5,000
5,000
9
Ultimate controlling party

The directors consider there to be no ultimate controlling party.

2024-12-31 2024-01-01 false false false 23 July 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr GJ Murphy Mr AJ Murphy Miss MJ Murphy 01060666 2024-01-01 2024-12-31 01060666 bus:Director1 2024-01-01 2024-12-31 01060666 bus:Director2 2024-01-01 2024-12-31 01060666 bus:CompanySecretary1 2024-01-01 2024-12-31 01060666 bus:RegisteredOffice 2024-01-01 2024-12-31 01060666 2024-12-31 01060666 2023-12-31 01060666 core:LandBuildings 2024-12-31 01060666 core:OtherPropertyPlantEquipment 2024-12-31 01060666 core:LandBuildings 2023-12-31 01060666 core:OtherPropertyPlantEquipment 2023-12-31 01060666 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 01060666 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01060666 core:ShareCapital 2024-12-31 01060666 core:ShareCapital 2023-12-31 01060666 core:RetainedEarningsAccumulatedLosses 2024-12-31 01060666 core:RetainedEarningsAccumulatedLosses 2023-12-31 01060666 core:ShareCapitalOrdinaryShareClass1 2024-12-31 01060666 core:ShareCapitalOrdinaryShareClass1 2023-12-31 01060666 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01060666 core:LeaseholdImprovements 2024-01-01 2024-12-31 01060666 core:PlantMachinery 2024-01-01 2024-12-31 01060666 2023-01-01 2023-12-31 01060666 core:LandBuildings 2023-12-31 01060666 core:OtherPropertyPlantEquipment 2023-12-31 01060666 2023-12-31 01060666 core:LandBuildings 2024-01-01 2024-12-31 01060666 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 01060666 core:CurrentFinancialInstruments 2024-12-31 01060666 core:CurrentFinancialInstruments 2023-12-31 01060666 core:WithinOneYear 2024-12-31 01060666 core:WithinOneYear 2023-12-31 01060666 core:Non-currentFinancialInstruments 2024-12-31 01060666 core:Non-currentFinancialInstruments 2023-12-31 01060666 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 01060666 bus:OrdinaryShareClass1 2024-12-31 01060666 bus:OrdinaryShareClass1 2023-12-31 01060666 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01060666 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01060666 bus:FRS102 2024-01-01 2024-12-31 01060666 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01060666 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP