REGISTERED NUMBER: SC342656 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

Murray & Currie Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Currie

R P Murray

REGISTERED OFFICE:

60 Queen Street

Edinburgh

Lothian

EH2 4NA

REGISTERED NUMBER:

SC342656 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

974,556

972,802

974,556

972,802

CURRENT ASSETS

Debtors

6

974,994

747,952

Cash at bank

849,153

963,232

1,824,147

1,711,184

CREDITORS

Amounts falling due within one year

7

1,165,817

1,195,063

NET CURRENT ASSETS

658,330

516,121

TOTAL ASSETS LESS CURRENT LIABILITIES

1,632,886

1,488,923

CREDITORS

Amounts falling due after more than one year

8

(528,207

)

(451,332

)

PROVISIONS FOR LIABILITIES

11

(38,611

)

(48,285

)

NET ASSETS

1,066,068

989,306

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

29,990

29,990

Revaluation reserve

12

172,500

172,500

Retained earnings

863,378

786,616

1,066,068

989,306

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by:

R P Murray - Director

S A Currie - Director

1.	STATUTORY INFORMATION

Murray & Currie 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 as modified by the revaluation of certain assets.

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 0, is being amortised evenly over its estimated useful life of nil 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.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Taxation

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 17 (2024 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

23,620

AMORTISATION

At 1 June 2024

and 31 May 2025

23,620

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST OR VALUATION

At 1 June 2024

1,028,115

92,982

121,614

Additions

-

-

-

Disposals

-

-

-

At 31 May 2025

1,028,115

92,982

121,614

DEPRECIATION

At 1 June 2024

102,812

82,142

116,283

Charge for year

20,562

1,500

2,872

Eliminated on disposal

-

-

-

At 31 May 2025

123,374

83,642

119,155

NET BOOK VALUE

At 31 May 2025

904,741

9,340

2,459

At 31 May 2024

925,303

10,840

5,331

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 June 2024

105,177

72,085

1,419,973

Additions

63,118

-

63,118

Disposals

(26,157

)

(40,312

)

(66,469

)

At 31 May 2025

142,138

31,773

1,416,622

DEPRECIATION

At 1 June 2024

80,021

65,913

447,171

Charge for year

30,198

2,933

58,065

Eliminated on disposal

(22,919

)

(40,251

)

(63,170

)

At 31 May 2025

87,300

28,595

442,066

NET BOOK VALUE

At 31 May 2025

54,838

3,178

974,556

At 31 May 2024

25,156

6,172

972,802

Cost or valuation at 31 May 2025 is represented by:

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

Valuation in 2019

230,000

-

-

Cost

798,115

92,982

121,614

1,028,115

92,982

121,614

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2019

-

-

230,000

Cost

142,138

31,773

1,186,622

142,138

31,773

1,416,622

If freehold property had not been revalued it would have been included at the following historical cost:

31.5.25

31.5.24

£

£

Cost

798,115

798,115

Freehold property was valued on an open market basis on 9 May 2019 by Graham & Sibbald .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

83,546

12,034

Other debtors

891,448

735,918

974,994

747,952

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Hire purchase contracts (see note 9)

18,992

14,859

Trade creditors

18,512

10,536

Taxation and social security

242,457

331,320

Other creditors

885,856

838,348

1,165,817

1,195,063

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Hire purchase contracts (see note 9)

67,491

40,353

Other creditors

460,716

410,979

528,207

451,332

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.5.25

31.5.24

£

£

Net obligations repayable:

Within one year

18,992

14,859

Between one and five years

67,491

40,353

86,483

55,212

Non-cancellable

operating leases

31.5.25

31.5.24

£

£

Within one year

17,280

20,736

Between one and five years

-

17,280

17,280

38,016

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Mortgage loan

438,564

438,564

Hampden & Co plc hold a standard security over the property 60 Queen Street, Edinburgh and the goodwill, so far as heritable of the business carried on from the property in relation to the above loan.

Hampden & Co plc and The Royal Bank of Scotland plc also hold a floating charge and negative pledge over the assets of the company.

11.	PROVISIONS FOR LIABILITIES

31.5.25

31.5.24

£

£

Deferred tax

38,611

48,285

Deferred

tax

£

Balance at 1 June 2024

48,285

Provided during year

(9,674

)

Balance at 31 May 2025

38,611

12.

RESERVES

Revaluation

reserve

£

At 1 June 2024

and 31 May 2025

172,500

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.5.25

31.5.24

£

£

S A Currie

Balance outstanding at start of year

67,778

67,635

Amounts advanced

118,778

98,943

Amounts repaid

(90,000

)

(98,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

96,556

67,778

R P Murray

Balance outstanding at start of year

62,124

62,687

Amounts advanced

110,728

88,396

Amounts repaid

(90,669

)

(88,959

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

82,183

62,124

14.	RELATED PARTY DISCLOSURES

Currie and Murray Investments Ltd

The directors are also directors in Currie and Murray Investments Ltd

31.5.25

31.5.24

£

£

Amount due from related party at the balance sheet date

613,709

538,009

Properteam Maintenance Ltd

The directors of Properteam Maintenance Ltd are family members

31.5.25

31.5.24

£

£

Amount due from related party at the balance sheet date

10,028

7,128