Euan Murray Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC415472 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2019

for

Euan Murray Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E P Murray

E C Murray

REGISTERED OFFICE:

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC415472 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

BANKERS:

The Royal Bank of Scotland

142-144 Princes Street

Edinburgh

EH2 4EQ

FIXED ASSETS

Tangible assets

3

897

1,496

Investments

4

2

2

899

1,498

CURRENT ASSETS

Debtors

5

51,136

42,340

Cash at bank

86,159

37,242

137,295

79,582

CREDITORS

Amounts falling due within one year

6

138,040

45,577

NET CURRENT (LIABILITIES)/ASSETS

(745

)

34,005

TOTAL ASSETS LESS CURRENT LIABILITIES

154

35,503

PROVISIONS FOR LIABILITIES

7

152

254

NET ASSETS

2

35,249

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

-

35,247

SHAREHOLDERS' FUNDS

2

35,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 1 October 2019 and were signed on its behalf by:

E P Murray - Director

1.	STATUTORY INFORMATION

Euan Murray Limited is a private company, limited by shares , registered in Scotland. 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.

Preparation of consolidated financial statements

The financial statements contain information about Euan Murray Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are

considered to have been transferred to the buyer. Turnover from the supply of services represents the value of

services provided under contracts to the extent that there is a right to consideration and is recorded at the fair

value of the consideration received or receivable. Where a contract has only been partially completed at the

balance sheet date turnover represents the fair value of the service provided to date based on the stage of

completion of the contract activity at the balance sheet date. Where payments are received from customers in

advance of services provided, the amounts recorded as deferred income and included as part of creditors due

within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of

each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and Fittings

-

25% on cost

Computer Equipment

-

25% on cost

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 not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Investments in subsidiaries

In the company balance sheet, investments in subsidiaries are measured at cost less impairment. Cost is measured

by reference to the nominal value of the shares issued plus fair value of other consideration.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

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.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured

at their settlement value.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

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.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2018

1,548

2,658

4,206

Additions

-

1,162

1,162

Disposals

-

(2,096

)

(2,096

)

At 31 January 2019

1,548

1,724

3,272

DEPRECIATION

At 1 February 2018

1,161

1,549

2,710

Charge for year

387

317

704

Eliminated on disposal

-

(1,039

)

(1,039

)

At 31 January 2019

1,548

827

2,375

NET BOOK VALUE

At 31 January 2019

-

897

897

At 31 January 2018

387

1,109

1,496

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2018

and 31 January 2019

2

NET BOOK VALUE

At 31 January 2019

2

At 31 January 2018

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Pink House Interiors

Registered office: 6 Logie Mill, Edinburgh, Lothian, EH7 4HG

Nature of business: Publishing of consumer and business journals.

%

Class of shares:

holding

Ordinary Class A

100.00

Ordinary Class B

100.00

31.1.19

31.1.18

£

£

Aggregate capital and reserves

-

(9,551

)

Profit for the year

20,573

7,609

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

-

22,835

Other debtors

51,136

19,505

51,136

42,340

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Taxation and social security

50,893

43,895

Other creditors

87,147

1,682

138,040

45,577

7.	PROVISIONS FOR LIABILITIES

31.1.19

31.1.18

£

£

Deferred tax

152

254

Deferred

tax

£

Balance at 1 February 2018

254

Provided during year

(102

)

Balance at 31 January 2019

152

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

£

£

1

Ordinary 'A'

£1

1

1

1

Ordinary 'B'

£1

1

1

2

2

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2019 and

31 January 2018:

31.1.19

31.1.18

£

£

E P Murray

Balance outstanding at start of year

(2

)

(17,046

)

Amounts advanced

35,250

53,189

Amounts repaid

(120,716

)

(36,145

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(85,468

)

(2

)

10.	RELATED PARTY DISCLOSURES

Related Party

Transaction Type

Transaction in year 31.1.19

Transaction in year 31.1.18

Balance due from/(payable to related party at 31.1.19

)

Balance due from/(payable to related party at 31.1.18

)

£

£

£

£

Directors

Rent

Nil

1,072

Nil

Nil

(1) The Pink House Interiors Ltd.

Loan

Nil

Nil

12,000

12,000

(1) The Pink House Interiors Ltd.

Dividend

11,020

Nil

11,020

Nil

Notes

(1) The directors of Euan Murray Limited are also directors of The Pink House Interiors Ltd. The loan is

repayable on demand and is interest-free.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is E P Murray.