REGISTERED NUMBER: 06346867 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MURFORM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Murphy

P Murphy

D Murphy

L Murphy

K Keenan

B Dunbar

SECRETARY:

L Murphy

REGISTERED OFFICE:

Unit B2

Beckerings Business Park

Beckerings Park Estate

Lidlington

Bedfordshire

MK43 0RD

REGISTERED NUMBER:

06346867 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

637,413

581,180

CURRENT ASSETS

Stocks

70,212

37,040

Debtors

5

2,925,424

2,801,992

Cash at bank and in hand

1,714,996

1,317,273

4,710,632

4,156,305

CREDITORS

Amounts falling due within one year

6

756,899

515,778

NET CURRENT ASSETS

3,953,733

3,640,527

TOTAL ASSETS LESS CURRENT LIABILITIES

4,591,146

4,221,707

CREDITORS

Amounts falling due after more than one year

7

(25,805

)

(85,699

)

PROVISIONS FOR LIABILITIES

10

(52,080

)

(52,080

)

NET ASSETS

4,513,261

4,083,928

CAPITAL AND RESERVES

Called up share capital

11

4

4

Retained earnings

4,513,257

4,083,924

SHAREHOLDERS' FUNDS

4,513,261

4,083,928

The 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, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

L Murphy - Director

1.	STATUTORY INFORMATION

Murform Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Management is of the opinion that there are no critical judgements (other than those involving estimates) that have a significant effect on the amounts recognised in the financial statements.

Impairment of work in progress

The company reviews its amounts of work in progress outstanding on a continuous basis for any objective evidence of impairment by considering factors including the ageing profile and likelihood of obtaining customer sign off on outstanding balances.

Impairment of trade debtors

The company assesses its trade debtors on a continuous basis for any objective evidence of impairment by considering factors, including the ageing profile, the credit worthiness and the past collection history of each debtor.

Turnover

Turnover relates to the provision of construction and related services, and is recognised in line with underlying contractual work completion stages as agreed with customers.

Turnover is measured at the fair value of the consideration receivable, excluding discounts, rebates, value added tax and other sales taxes or duty.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Land and buildings

- 2% on cost

Fixtures and Fittings

- 25% on cost

Motor Vehicles

- 20% on cost

Plant and machinery etc

- 20% on cost

Work in progress

Work in progress represents services to the extent of materials used and work completed as at the year end, taking due allowance for any expected losses realised or anticipated at that date.

Financial instruments

Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tax assets and associated balances arising from research and development tax credit claims are recognised in the period in which the claim is made.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

174,309

1,330,962

1,505,271

Additions

-

287,478

287,478

Disposals

-

(29,637

)

(29,637

)

At 31 December 2024

174,309

1,588,803

1,763,112

DEPRECIATION

At 1 January 2024

27,763

896,328

924,091

Charge for year

3,486

226,002

229,488

Eliminated on disposal

-

(27,880

)

(27,880

)

At 31 December 2024

31,249

1,094,450

1,125,699

NET BOOK VALUE

At 31 December 2024

143,060

494,353

637,413

At 31 December 2023

146,546

434,634

581,180

Included within plant & machinery are assets under a hire purchase agreement with net book value at 31st December 2024 of £65,780 (2023: £78,834).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

909,875

677,452

Amounts owed by group undertakings

-

342,479

Amounts owed by related parties

362,400

402,000

Other debtors

1,653,149

1,380,061

2,925,424

2,801,992

Included in amounts owed by related parties is 2024: £362,400 (2023:£402,000) owed by Growtown Property Services Ltd, a related party. Whilst this balance is repayable on demand the expectation is that it will be received gradually over a number of years.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 8)

43,792

42,850

Hire purchase contracts (see note 9)

20,955

32,870

Trade creditors

317,739

311,891

Taxation and social security

288,749

90,709

Other creditors & accruals

85,664

37,458

756,899

515,778

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 8)

11,578

55,147

Hire purchase contracts (see note 9)

14,227

30,552

25,805

85,699

8.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

43,792

42,850

Amounts falling due between one and two years:

Bank loans - 1-2 years

11,578

44,122

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

11,025

Bank facilities are secured by a fixed charge over the Company's land and buildings, and a fixed and floating charge over all assets of the Company.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

20,955

32,870

Between one and five years

14,227

30,552

35,182

63,422

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

64,689

61,900

Between one and five years

68,020

72,808

132,709

134,708

The conditions of the hire purchase lease allow the lessor the right to take possession of the assets if the covenants regarding repayment of the lease are not complied with.

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

52,080

52,080

Deferred

tax

£

Balance at 1 January 2024

52,080

Balance at 31 December 2024

52,080

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

4

Ordinary A

£1

4

4

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Lockwood (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

13.	CONTINGENT ASSETS

It is the Company's intention to complete a research and development tax credit claim relating to expenses incurred in the year. At this time it is probable that there will be a future inflow of economic benefits to the entity, however, the value of this benefit is not able to be estimated reliably at the time of approval of these financial statements.

14.	RELATED PARTY DISCLOSURES

During the year, the company made sales to a company under common control, Growtown Property Services Ltd, for the total of Nil (2023: £335,000). The company was charged rent of £56,400 (2023: £26,400) by Growtown Property Services Ltd during the period.

At the year end, the balance owed to the company by Growtown Property Services Ltd was £362,400 (2023: £402,000). The balance is interest free and has no fixed repayment date.

15.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

16.	ULTIMATE PARENT COMPANY

The immediate and ultimate parent company of Murform Limited is Murform Holdings Ltd, a company incorporated in Ireland.

The registered address of the company is Growtown, Barntown, Co.Wexford, Y35 XF68. Consolidated financial statements are available from the Companies Registration Office Ireland which can be found online at core.cro.ie.