MurphyCobb Technologies Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12629934

MurphyCobb Technologies Limited

Filleted Unaudited Accounts

31 December 2024

MurphyCobb Technologies Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	121	371

Current assets

Debtors	6	249,345	169,061
Cash at bank and in hand		10,091	3,713
		---------	---------
		259,436	172,774

Creditors: amounts falling due within one year	7	( 1,011,953)	( 655,601)
		------------	---------
Net current liabilities		( 752,517)	( 482,827)
		---------	---------
Total assets less current liabilities		( 752,396)	( 482,456)
		---------	---------
Net liabilities		( 752,396)	( 482,456)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 752,496)	( 482,556)
	---------	---------
Shareholders deficit	( 752,396)	( 482,456)
	---------	---------

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

MurphyCobb Technologies Limited

Statement of Financial Position (continued)

31 December 2024

These accounts were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

M Siddiqi

Director

Company registration number: 12629934

MurphyCobb Technologies Limited

Notes to the Accounts

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street Haymarket, London, WC2H 7DQ, United Kingdom.

2. Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Going concern

The company operates in a net liability position of £752,396 (2023: £482,456). However, the company receives support from its direct parent, MurphyCobb and Associates Limited. On this basis, the directors consider the company a going concern.

Revenue recognition

Revenue is recognised in accordance with FRS 102. Turnover is measured at the fair value of the consideration received or receivable, net of any discounts, rebates, and Value Added Tax (VAT). Revenue from services is recognised over time as the company satisfies its performance obligations, which are identified within customer contracts. The transaction price is allocated to each distinct performance obligation based on their relative standalone selling prices, with revenue recognised either on a a time-based or milestone-based method, depending on the nature of the services provided. Retainer Clients For retainer agreements, revenue recognition varies based on the structure of the retainer: Flat-Fee Retainers In cases where the client is charged a fixed annual fee for a set number of service hours, we recognise revenue evenly over the contract period. The total fee is allocated evenly across the months of the year, reflecting the assumption that the services are provided evenly throughout the contract period, unless otherwise indicated by actual service delivery patterns. Draw-Down Retainers For clients on draw-down retainers, where a predetermined budget is agreed upon for the year, revenue is recognised as the client draws down on this budget. When a specific project arises, we estimate the cost of that project and deduct it from the overall retainer budget. Revenue is recognised as the work is performed, reflecting the costs and progress of the project in relation to the allocated budget. Any unused portion of the budget at the end of the period remains unrecognised unless contractually specified otherwise.

Revenue recognition (continued)

Ad-Hoc Jobs

For ad-hoc projects, revenue is recognised once the project reaches an advanced stage of completion, specifically at stage 7 of the project lifecycle, which represents a significant point at which performance obligations have been substantially fulfilled. This approach ensures that revenue is recognised only when the majority of the services have been provided, and there is a high degree of certainty regarding the completion of the remaining obligations.

Contracts may include variable considerations, which are estimated and recognised when it is highly probable that a significant reversal will not occur. Revenue is recorded net of any discounts or rebates, and adjustments are made as needed for changes in contract terms or estimates. VAT is excluded from revenue, as it is collected on behalf of tax authorities and recorded as a liability until remitted. This policy ensures that revenue is accurately reflected in the financial statements, in alignment with the services provided to customers.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	3-4 years straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 January 2024 and 31 December 2024	3,812
	-------
Depreciation
At 1 January 2024	3,441
Charge for the year	250
	-------
At 31 December 2024	3,691
	-------
Carrying amount
At 31 December 2024	121
	-------
At 31 December 2023	371
	-------

6. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	245,906	164,601
Other debtors	3,439	4,460
	---------	---------
	249,345	169,061
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	3,298	24,419
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,003,023	625,732
Social security and other taxes	2,982	2,995
Other creditors	2,650	2,455
	------------	---------
	1,011,953	655,601
	------------	---------

8. Charges

Charges have been made against the company in favour of the following parties to secure their interests in the activity of the company:

- YFM Private Equity Limited

- Secured Fixed Income PLC

9. Controlling party

The company is wholly owned by MurphyCobb & Associates Limited , a company registered in England and Wales, which shares the same registered address as that of the company. The directors consider that there is no one ultimate controlling party.