Murrays Solicitors Limited - Accounts to registrar (filleted)

MURRAYS SOLICITORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S McLaughlin

Mrs E L Wilkinson

REGISTERED OFFICE:

Bank House

41 Bank Street

Bradford

West Yorkshire

BD1 1RD

REGISTERED NUMBER:

08934475 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

4,500

5,221

4,500

5,221

CURRENT ASSETS

Work in progress

110,162

176,240

Debtors

6

16,406

151,256

Cash at bank

150,021

112,636

276,589

440,132

CREDITORS

Amounts falling due within one year

7

104,850

146,866

NET CURRENT ASSETS

171,739

293,266

TOTAL ASSETS LESS CURRENT LIABILITIES

176,239

298,487

CREDITORS

Amounts falling due after more than one
year

8

(2,630

)

(13,091

)

PROVISIONS FOR LIABILITIES

9

(1,073

)

(1,208

)

NET ASSETS

172,536

284,188

CAPITAL AND RESERVES

Called up share capital

10

20

19

Capital redemption reserve

11

8

-

Retained earnings

11

172,508

284,169

SHAREHOLDERS' FUNDS

172,536

284,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 21 November 2025 and were signed on its behalf by:

S McLaughlin - Director

Mrs E L Wilkinson - Director

1.	STATUTORY INFORMATION

Murrays Solicitors Limited is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

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.

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 6 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

550,000

AMORTISATION

At 1 April 2024

and 31 March 2025

550,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2024

4,680

9,546

14,226

Additions

-

419

At 31 March 2025

4,680

9,965

14,645

DEPRECIATION

At 1 April 2024

1,408

7,597

9,005

Charge for year

491

649

1,140

At 31 March 2025

1,899

8,246

10,145

NET BOOK VALUE

At 31 March 2025

2,781

1,719

4,500

At 31 March 2024

3,272

1,949

5,221

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

8,378

-

Other debtors

1,083

147,263

Directors' current accounts

2,838

-

Prepayments

4,107

3,993

16,406

151,256

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

10,461

10,183

Trade creditors

4,580

4,491

Tax

62,908

54,937

Social security and other taxes

2,746

(688

)

VAT

18,866

71,653

Other creditors

986

1,061

Directors' current accounts

-

1,291

Accrued expenses

4,303

3,938

104,850

146,866

The directors' loan accounts are interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans - 1-2 years

2,630

13,091

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

Deferred tax

1,073

1,208

Deferred

tax

£

Balance at 1 April 2024

1,208

Accelerated capital allowances

(135

)

Balance at 31 March 2025

1,073

The entire provision for deferred taxation is in respect of accelerated capital allowances.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

15

Ordinary

£1.00

20

19

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

At 1 April 2024

284,169

-

284,169

Profit for the year

188,257

Dividends

(155,000

)

(155,000

)

Purchase of own shares

(144,918

)

8

(144,910

)

At 31 March 2025

172,508

8

172,516

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

S McLaughlin

Balance outstanding at start of year

(395

)

(219

)

Amounts advanced

93,521

83,824

Amounts repaid

(93,000

)

(84,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

126

(395

)

Mrs E L Wilkinson

Balance outstanding at start of year

(895

)

(2,811

)

Amounts advanced

65,608

67,916

Amounts repaid

(62,000

)

(66,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

2,713

(895

)

The loans to the directors are interest free and repayable on demand. The loans were repaid in full on 21 November 2025.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is I P Clarke.