REGISTERED NUMBER: NI029332 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MURPHY'S LAUNDRY EQUIPMENT LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

P Murphy

E Murphy

SECRETARY:

P Murphy

REGISTERED OFFICE:

Baker Tilly Mooney Moore

17 Clarendon Road

Clarendon Dock

Belfast

BT1 3BG

REGISTERED NUMBER:

NI029332 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

Chartered Certified Accountants

17 Clarendon Road

Clarendon Dock

Belfast

BT1 3BG

BANKERS:

Bank of Ireland

12 Trevor Hill

Newry

Down

BT34 1DT

FIXED ASSETS

Tangible assets

4

163,998

186,416

CURRENT ASSETS

Stocks

5

360,000

428,524

Debtors

6

245,335

222,418

Cash at bank and in hand

2,450

25,628

607,785

676,570

CREDITORS

Amounts falling due within one year

7

656,650

682,521

NET CURRENT LIABILITIES

(48,865

)

(5,951

)

TOTAL ASSETS LESS CURRENT LIABILITIES

115,133

180,465

CREDITORS

Amounts falling due after more than one year

8

(8,773

)

(19,449

)

PROVISIONS FOR LIABILITIES

(14,110

)

(18,368

)

NET ASSETS

92,250

142,648

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

92,248

142,646

SHAREHOLDERS' FUNDS

92,250

142,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 authorised for issue by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

P Murphy - Director

1.	STATUTORY INFORMATION

Murphy's Laundry Equipment Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The address of the company's place of business is 18a Mayo Road, Mayobridge, Newry, BT34 2HA.

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.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

Consider the age and condition of stock and the need for any impairment provisions. These considerations are undertaken by directors at regular intervals, especially at the year end date. Factors taken into consideration include the period of ownership of the stock, market demand and historical experience. Stock identified as impaired will be provided against in the relevant period.

Consider the recoverability of trade debtors and work in progress and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified are irrecoverable will be provided against in the relevant period.

The directors also consider the depreciation rate on an annual basis to ensure this estimate remains reasonable.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures, fittings & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Rental assets

-

20% on reducing balance

Stocks

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

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.

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.

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 8 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

Plant and

fittings

property

machinery

& equipmen

£

£

£

COST

At 1 October 2023

and 30 September 2024

89,741

14,858

9,755

DEPRECIATION

At 1 October 2023

-

7,514

8,693

Charge for year

-

1,469

265

At 30 September 2024

-

8,983

8,958

NET BOOK VALUE

At 30 September 2024

89,741

5,875

797

At 30 September 2023

89,741

7,344

1,062

Motor

Rental

vehicles

assets

Totals

£

£

£

COST

At 1 October 2023

and 30 September 2024

150,930

82,328

347,612

DEPRECIATION

At 1 October 2023

91,448

53,541

161,196

Charge for year

14,849

5,835

22,418

At 30 September 2024

106,297

59,376

183,614

NET BOOK VALUE

At 30 September 2024

44,633

22,952

163,998

At 30 September 2023

59,482

28,787

186,416

5.

STOCKS

30.9.24

30.9.23

£

£

Finished goods

360,000

428,524

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

75,429

75,270

RCT Debtor

21,134

21,134

Other Debtors

56,536

49,836

Directors' current accounts

69,773

76,178

Tax

22,463

-

245,335

222,418

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts

10,289

9,648

Hire purchase contracts

-

283

Trade creditors

154,333

300,204

Taxation and social security

196,390

153,574

Other creditors

295,638

218,812

656,650

682,521

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Other creditors

8,773

19,449

9.	ULTIMATE CONTROLLING PARTY

The company continues to be controlled by the directors by virtue of their shareholding.