REGISTERED NUMBER: SC520732 (Scotland)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Murray Motors (FRS) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G F Murray

Mrs A Murray

Mr M Murray

REGISTERED OFFICE:

27 Finlayson street

Fraserburgh

Aberdeenshire

AB43 9JQ

REGISTERED NUMBER:

SC520732 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

77,109

89,651

CURRENT ASSETS

Stocks

456,350

379,567

Debtors

5

10,325

10,583

Cash at bank

70,143

107,410

536,818

497,560

CREDITORS

Amounts falling due within one year

6

194,744

224,512

NET CURRENT ASSETS

342,074

273,048

TOTAL ASSETS LESS CURRENT LIABILITIES

419,183

362,699

CREDITORS

Amounts falling due after more than one year

7

(3,286

)

(13,334

)

PROVISIONS FOR LIABILITIES

(1,929

)

(3,534

)

NET ASSETS

413,968

345,831

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

413,868

345,731

SHAREHOLDERS' FUNDS

413,968

345,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mr G F Murray - Director

Mrs A Murray - Director

1.	STATUTORY INFORMATION

Murray Motors (FRS) Ltd 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.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers. Revenue is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tyre Bay Workshop

-

4% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Tyre Bay

to

Plant and

Workshop

property

machinery

£

£

£

COST

At 1 March 2024

49,137

17,659

25,954

Disposals

-

-

-

At 28 February 2025

49,137

17,659

25,954

DEPRECIATION

At 1 March 2024

8,184

3,532

11,506

Charge for year

1,966

1,766

3,612

Eliminated on disposal

-

-

-

At 28 February 2025

10,150

5,298

15,118

NET BOOK VALUE

At 28 February 2025

38,987

12,361

10,836

At 29 February 2024

40,953

14,127

14,448

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 March 2024

17,602

28,347

138,699

Disposals

-

(705

)

(705

)

At 28 February 2025

17,602

27,642

137,994

DEPRECIATION

At 1 March 2024

10,387

15,439

49,048

Charge for year

1,804

3,171

12,319

Eliminated on disposal

-

(482

)

(482

)

At 28 February 2025

12,191

18,128

60,885

NET BOOK VALUE

At 28 February 2025

5,411

9,514

77,109

At 29 February 2024

7,215

12,908

89,651

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2024

10,100

Transfer to ownership

(10,100

)

At 28 February 2025

-

DEPRECIATION

At 1 March 2024

6,904

Transfer to ownership

(6,904

)

At 28 February 2025

-

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

3,196

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

10,325

7,555

Other debtors

-

3,028

10,325

10,583

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

10,047

10,000

Hire purchase contracts

-

842

Trade creditors

49,915

33,407

Tax

33,331

49,540

Social security and other taxes

4,005

2,688

VAT

26,600

30,471

Other creditors

4,595

4,747

Directors' current accounts

59,353

86,217

Accrued expenses

6,898

6,600

194,744

224,512

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans - 1-2 years

3,286

10,000

Bank loans - 2-5 years

-

3,334

3,286

13,334

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors rent premises to the company and rents totalling £18,000 were paid to them during the year. The rent is paid at commercial market rate.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr & Mrs Murray who own 100% of the company's issued Ordinary share

capital.