Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC660373 2023-06-01 2024-05-31 SC660373 2022-06-01 2023-05-31 SC660373 2024-05-31 SC660373 2023-05-31 SC660373 c:CompanySecretary1 2023-06-01 2024-05-31 SC660373 c:Director1 2023-06-01 2024-05-31 SC660373 c:Director2 2023-06-01 2024-05-31 SC660373 c:RegisteredOffice 2023-06-01 2024-05-31 SC660373 d:Buildings 2023-06-01 2024-05-31 SC660373 d:Buildings 2024-05-31 SC660373 d:Buildings 2023-05-31 SC660373 d:FreeholdInvestmentProperty 2024-05-31 SC660373 d:FreeholdInvestmentProperty 2023-05-31 SC660373 d:FreeholdInvestmentProperty 2 2023-06-01 2024-05-31 SC660373 d:FreeholdInvestmentProperty 3 2023-06-01 2024-05-31 SC660373 d:CurrentFinancialInstruments 2024-05-31 SC660373 d:CurrentFinancialInstruments 2023-05-31 SC660373 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC660373 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC660373 d:ShareCapital 2024-05-31 SC660373 d:ShareCapital 2023-05-31 SC660373 d:SharePremium 2024-05-31 SC660373 d:SharePremium 2023-05-31 SC660373 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC660373 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC660373 c:OrdinaryShareClass1 2023-06-01 2024-05-31 SC660373 c:OrdinaryShareClass1 2024-05-31 SC660373 c:OrdinaryShareClass1 2023-05-31 SC660373 c:FRS102 2023-06-01 2024-05-31 SC660373 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC660373 c:FullAccounts 2023-06-01 2024-05-31 SC660373 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC660373 2 2023-06-01 2024-05-31 SC660373 f:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC660373










CLUNIE INVESTMENTS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
CLUNIE INVESTMENTS LTD
 

COMPANY INFORMATION


Directors
Mr R F Gibson 
Mr J S Lamond 




Company secretary
Mr J S Lamond



Registered number
SC660373



Registered office
Eden Valley Business Park

Cupar

Fife

KY15 4RB




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
CLUNIE INVESTMENTS LTD
REGISTERED NUMBER: SC660373

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
921,815

Investment property
 5 
2,290,000
705,000

  
2,290,000
1,626,815

Current assets
  

Debtors: amounts falling due within one year
 6 
-
146,054

Cash at bank and in hand
  
486,378
206,046

  
486,378
352,100

Creditors: amounts falling due within one year
 7 
(181,427)
(26,324)

Net current assets
  
 
 
304,951
 
 
325,776

Total assets less current liabilities
  
2,594,951
1,952,591

Provisions for liabilities
  

Deferred tax
  
(143,750)
-

  
 
 
(143,750)
 
 
-

Net assets
  
2,451,201
1,952,591


Capital and reserves
  

Called up share capital 
 8 
21,584
21,584

Share premium account
  
1,893,700
1,893,700

Profit and loss account
  
535,917
37,307

  
2,451,201
1,952,591


Page 1

 
CLUNIE INVESTMENTS LTD
REGISTERED NUMBER: SC660373

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 February 2025.




Mr R F Gibson
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CLUNIE INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Clunie Investments Ltd is a private company, limited by shares, domiciled in Scotland with registration number SC660373. The registered office is Eden Valley Business Park, Cupar, Fife, United Kingdom, KY15 4RB.
The Company's functional and presentational currency is pound sterling (GBP).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CLUNIE INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
CLUNIE INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Freehold property
-
32
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
CLUNIE INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Freehold property

£





At 1 June 2023
1,010,000


Additions
636


Transfers between classes
(1,010,636)



At 31 May 2024

-





At 1 June 2023
88,185


Transfers between classes
(88,185)



At 31 May 2024

-



Net book value



At 31 May 2024
-



At 31 May 2023
921,815


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
705,000


Surplus on revaluation
662,549


Transfers between classes
922,451



At 31 May 2024
2,290,000

The fair value of investment property has been arrived at on the basis of a valuation carried out in 2024 by Graham + Sibbald LLP, surveyors who are not connected to the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
At the balance sheet date, the directors believe that there are no factors that would significantly impact on this valuation. 






Page 6

 
CLUNIE INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Other debtors
-
144,918

Prepayments and accrued income
-
1,136

-
146,054



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
30,901
22,254

Other creditors
146,766
1,580

Accruals and deferred income
3,760
2,490

181,427
26,324



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



21,584 (2023 - 21,584) Ordinary shares of £1.00 each
21,584
21,584



Page 7