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REGISTERED NUMBER: SC106903 (Scotland)




















Moray Place Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Moray Place Limited (Registered number: SC106903)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Moray Place Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J C Stewart
D G Hamlin



SECRETARY: G M Secretaries Limited



REGISTERED OFFICE: 5 Atholl Crescent
Edinburgh
Midlothian
EH3 8EJ



REGISTERED NUMBER: SC106903 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland
12 Bridge Street
Musselburgh
EH21 6AH

Moray Place Limited (Registered number: SC106903)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,494 -
Investment property 5 2,318,887 -
2,320,381 -

CURRENT ASSETS
Debtors 6 4,392 -
Cash at bank and in hand 20,489 2
24,881 2
CREDITORS
Amounts falling due within one year 7 2,337,205 -
NET CURRENT (LIABILITIES)/ASSETS (2,312,324 ) 2
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,057

2

PROVISIONS FOR LIABILITIES 284 -
NET ASSETS 7,773 2

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7,771 -
SHAREHOLDERS' FUNDS 7,773 2

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Moray Place Limited (Registered number: SC106903)

Balance Sheet - continued
31 January 2024


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 24 October 2024 and were signed on its behalf by:





J C Stewart - Director


Moray Place Limited (Registered number: SC106903)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Moray Place 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.

Turnover
Turnover represents rent received. Rent is recognised in accordance with the terms of lease agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are shown at fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to the fluctuation in the property market is not considered permanent.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year-end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify only as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


Moray Place Limited (Registered number: SC106903)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 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.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,630
At 31 January 2024 1,630
DEPRECIATION
Charge for year 136
At 31 January 2024 136
NET BOOK VALUE
At 31 January 2024 1,494

Moray Place Limited (Registered number: SC106903)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 2,318,887
At 31 January 2024 2,318,887
NET BOOK VALUE
At 31 January 2024 2,318,887

The investment properties are shown at the director's estimation of open market value as at 31 January 2024. The director is not a professional valuer. This value equates to the cost of the properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,392 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,756 -
Taxation and social security 9,516 -
Other creditors 2,312,933 -
2,337,205 -

Included in other creditors is the balance due on the director's current account of £2,302,160 (2023: NIL). This balance is interest-free, unsecured, and repayable on demand.

8. CONTINGENT LIABILITIES

If the company's investment properties were sold at valuation, no chargeable gain for corporation tax would arise.