Murley Property Limited

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

Report to the directors on the preparation of the unaudited statutory accounts of Murley Property Limited for the year ended 28 February 2025

To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Murley Property Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Murley Property Limited , as a body, in accordance with the terms of our engagement letter dated 28 February 2023. Our work has been undertaken solely to prepare for your approval the accounts of Murley Property Limited and state those matters that we have agreed to state to the directors of Murley Property Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Murley Property Limited and its directors as a body for our work or for this report.

It is your duty to ensure that Murley Property Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Murley Property Limited . You consider that Murley Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Murley Property Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

30 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Murley Property Limited

Balance Sheet

As At 28 February 2025

Balance Sheet

Registered number: SC621510

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		162,426		162,426

			162,426		162,426
CURRENT ASSETS
Debtors	5	260		-
Cash at bank and in hand		229		2,477

		489		2,477
Creditors: Amounts Falling Due Within One Year	6	(148,399 )		(146,815 )

NET CURRENT ASSETS (LIABILITIES)			(147,910 )		(144,338 )

TOTAL ASSETS LESS CURRENT LIABILITIES			14,516		18,088

NET ASSETS			14,516		18,088

CAPITAL AND RESERVES
Called up share capital	8		2		2
Revaluation reserve	10		23,766		23,766
Profit and Loss Account			(9,252 )		(5,680 )

SHAREHOLDERS' FUNDS			14,516		18,088

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Murley Property Limited

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr T Murray

Director

30 September 2025

The notes on pages 4 to 6 form part of these financial statements.

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Murley Property Limited

Notes to the Financial Statements

For The Year Ended 28 February 2025

Notes to the Financial Statements

1. General Information

Murley Property Limited is a private company, limited by shares, incorporated in Scotland, registered number SC621510 . The registered office is 22 Palmerston Street, Montrose, DD10 8HR.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these adjustments at the rate expected to apply when the properties are sold.

2.5. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

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Murley Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

2.6. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Investment Property

	2025
	£
Fair Value
As at 1 March 2024 and 28 February 2025	162,426

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	162,426	162,426

5. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	260	-

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	(1 )	(1 )
Bank loans and overdrafts	105,980	105,980
Other creditors	450	450
Accruals and deferred income	960	960
Directors' loan accounts	41,010	39,426

	148,399	146,815

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 March 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 28 February 2025
	£	£	£	£	£
Mr Thomas Murray	(18,780 )	(1,272 )	-	-	(20,052 )
Mr Stuart Harley	(20,646 )	(312 )	-	-	(20,958 )

The above loan is interest free and has no fixed repayment terms.

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Murley Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

10. Reserves

	Revaluation Reserve
	£
As at 1 March 2024	23,766

As at 28 February 2025	23,766

11. Ultimate Controlling Party

The company's ultimate controlling party is T Murray & S Harley by virtue of their ownership of 100% of the issued share capital in the company.

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