MURRAY & FINLAY LTD


Directors	LOGAN, Graeme
	LOGAN, Raymond


Registered Address	272 Bath Street
	Glasgow
	G2 4JR


Registered Number	SC492042 (Scotland)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investment property	3		675,000		675,000
			675,000		675,000
Current assets
Debtors	4	10,762		2,760
Cash at bank and on hand		12,707		8,136
		23,469		10,896
Creditors amounts falling due within one year	5	(63,228)		(67,804)
Net current assets (liabilities)			(39,759)		(56,908)
Total assets less current liabilities			635,241		618,092
Creditors amounts falling due after one year	6		(491,725)		(494,552)
Provisions for liabilities	8		(27,625)		(20,995)
Net assets			115,891		102,545
Capital and reserves
Profit and loss account			115,891		102,545
Shareholders' funds			115,891		102,545

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 17 December 2025, and are signed on its behalf by:

LOGAN, Raymond
Director
Registered Company No. SC492042

MURRAY & FINLAY LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	Murray & Finlay Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC492042. The registered office is 272 Bath Street, Glasgow, Scotland, G2 4JR.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	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 of accounting in preparing its financial statements.

	Turnover policy
	Turnover consists of rental income which is recognised on a straight-line basis over the lease term.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investment property
	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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Investment property


		£
	Fair value at 01 April 24	675,000
	At 31 March 25	675,000

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	10,762	2,760
Total	10,762	2,760

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	4,685	4,245
Other creditors	53,786	59,739
Accrued liabilities and deferred income	4,757	3,820
Total	63,228	67,804

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	491,725	494,552
Total	491,725	494,552

7.	Secured creditors
	Creditors falling due after more than one year are loans falling due after more than 5 years. These are loans from various lenders secured against the properties which they relate to.

8.	Provisions for liabilities

	2025	2024
	£	£
Other provisions	27,625	20,995
Total	27,625	20,995