Abbreviated Company Accounts - MURRAY RETAIL LTD.

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during
the year and derives from the provision of goods falling within the company's ordinary
activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each
asset over its expected useful life, as follows:

Land and buildings - 2% straight line
Fixtures, fittings and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Valuation information and policy
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Stock
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.

3Fixed assets Investments
Investments are held at historic cost of £17,300 (2015 - £17,300). Closing provision for permanent dimunition in value is £nil (2015 - £nil).