| REGISTERED NUMBER: |
| MURPHY WEALTH LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 5TH APRIL 2025 TO 31ST MARCH 2026 |
| REGISTERED NUMBER: |
| MURPHY WEALTH LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 5TH APRIL 2025 TO 31ST MARCH 2026 |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| Page |
| Company Information | 1 |
| Chartered Certified Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| MURPHY WEALTH LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 4 Royal Crescent |
| Glasgow |
| G3 7SL |
| CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| MURPHY WEALTH LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Murphy Wealth Limited for the period ended 31st March 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Murphy Wealth Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Murphy Wealth Limited and state those matters that we have agreed to state to the Board of Directors of Murphy Wealth Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
| https://www.accaglobal.com/gb/en/technical-activities/technical-resources- |
| search/2009/october/factsheet-163-audit-exempt-companies.html. |
| To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Murphy Wealth Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Murphy Wealth Limited. You consider that Murphy Wealth Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of Murphy Wealth 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 statutory financial statements. |
| Chartered Certified Accountants |
| 4 Royal Crescent |
| Glasgow |
| G3 7SL |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| BALANCE SHEET |
| 31ST MARCH 2026 |
| 31.3.26 | 4.4.25 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| BALANCE SHEET - continued |
| 31ST MARCH 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| 1. | STATUTORY INFORMATION |
| Murphy Wealth Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future. |
| Turnover |
| Turnover comprises commission income and fees received and receivable for the year. |
| 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 |
| All fixed assets are initially recorded at cost. |
| Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
| Asset type | Depreciation rate |
| Short leasehold | 10% straight line |
| Improvements to property | 25% reducing balance |
| Motor vehicles | 10% - 25% straight line |
| Fixtures & Fittings | 15% reducing balance |
| Computer Equipment | 33% straight line |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Taxation |
| Taxation for the period 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. |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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 period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Website & | Computer |
| Branding | software | Totals |
| £ | £ | £ |
| COST |
| At 5th April 2025 |
| Disposals | ( |
) | ( |
) |
| At 31st March 2026 |
| AMORTISATION |
| At 5th April 2025 |
| Amortisation for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st March 2026 |
| NET BOOK VALUE |
| At 31st March 2026 |
| At 4th April 2025 |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Short | to | and |
| leasehold | property | fittings |
| £ | £ | £ |
| COST |
| At 5th April 2025 |
| Additions |
| Disposals |
| At 31st March 2026 |
| DEPRECIATION |
| At 5th April 2025 |
| Charge for period |
| Eliminated on disposal |
| At 31st March 2026 |
| NET BOOK VALUE |
| At 31st March 2026 |
| At 4th April 2025 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 5th April 2025 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31st March 2026 |
| DEPRECIATION |
| At 5th April 2025 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st March 2026 |
| NET BOOK VALUE |
| At 31st March 2026 |
| At 4th April 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.26 | 4.4.25 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts recoverable on contracts |
| Other debtors |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.26 | 4.4.25 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.26 | 4.4.25 |
| £ | £ |
| Bank loans (see note 9) |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.3.26 | 4.4.25 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.26 | 4.4.25 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | - | 62,686 |
| The bank overdraft and bank loan are secured by a bond and floating charge over the assets of the company. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.26 | 4.4.25 |
| value: | £ | £ |
| Ordinary A | £1 | 49 | 49 |
| Ordinary B | £1 | 51 | 51 |
| Ordinary C | £1 | 1 | 1 |
| 101 | 101 |
| MURPHY WEALTH LIMITED (REGISTERED NUMBER: SC445032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 5TH APRIL 2025 TO 31ST MARCH 2026 |
| 12. | OTHER FINANCIAL COMMITMENTS |
| The company has future operating lease commitments of £214,664 (2025: £303,291). |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the periods ended 31st March 2026 and 4th April 2025: |
| 31.3.26 | 4.4.25 |
| £ | £ |
| Balance outstanding at start of period |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period |
| Directors loans are interest fee and have no fixed repayment terms. The loan was repaid in full post year end. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of Murphy Wealth Group Limited. Murphy Wealth Group Limited is itself a wholly owned subsidiary of Murphy Group Scotland Limited. One of the directors, Adrian Murphy, is the |
| majority shareholder of Murphy Group Scotland Limited and he is therefore considered to be the ultimate |
| controlling party. |
| Murphy Group Scotland Limited is a company registered in Scotland and its company number is SC578017. Its registered office is 8th Floor, Sutherland House, 149 St Vincent Street, Glasgow, G2 5NW |