Company No:
Contents
2020 | 2019 | |||
Note | £ | £ | ||
Fixed assets | ||||
Intangible assets | 4 |
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Tangible assets | 5 |
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168,564 | 213,615 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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565,864 | 493,823 | |||
Creditors | ||||
Amounts falling due within one year | 7 | (
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Net current liabilities | (100,183) | (163,953) | ||
Total assets less current liabilities | 68,381 | 49,662 | ||
Net assets | 68,381 | 49,662 | ||
Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds | 68,381 | 49,662 |
Directors’ responsibilities:
The financial statements of Murray Birrell Ltd. (registered number:
Keith Murray
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
Murray Birrell Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mortimer House 40 Chatsworth Parade, Queensway, Petts Wood, BR5 1DE, , United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of Murray Birrell Ltd. is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Goodwill - 5% straight line
Fixtures, fittings & equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
value basis.
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
2020 | 2019 | |
Number | Number | |
Monthly average number of persons employed by the Company during the year, including directors |
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Other intangible assets | Total | |
£ | £ | |
Cost | ||
At 01 April 2019 |
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At 31 March 2020 |
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Accumulated amortisation | ||
At 01 April 2019 |
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Charge for the financial year |
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At 31 March 2020 |
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Net book value | ||
At 31 March 2020 |
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At 31 March 2019 |
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Vehicles | Office equipment | Total | |
£ | £ | £ | |
Cost/Valuation | |||
At 01 April 2019 |
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Additions |
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Disposals | (
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At 31 March 2020 |
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Accumulated depreciation | |||
At 01 April 2019 |
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Charge for the financial year |
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Disposals | (
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At 31 March 2020 |
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Net book value | |||
At 31 March 2020 |
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At 31 March 2019 |
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2020 | 2019 | |
£ | £ | |
Trade debtors |
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Other debtors |
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2020 | 2019 | |
£ | £ | |
Trade creditors |
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Amounts owed to Group undertakings |
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Other creditors |
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Other taxation and social security |
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At the time of signing these accounts, the country is making a staged exit from a lockdown situation which has not materially affected the company.