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REGISTERED NUMBER: SC675523 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Currie & Murray Investments Limited

Currie & Murray Investments Limited (Registered number: SC675523)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Currie & Murray Investments Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S A Currie
R P Murray





REGISTERED OFFICE: 60 Queen Street
Edinburgh
Midlothian
EH2 4NA





REGISTERED NUMBER: SC675523 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Currie & Murray Investments Limited (Registered number: SC675523)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,722 4,456
Investment property 5 1,345,000 1,105,000
1,346,722 1,109,456

CURRENT ASSETS
Debtors 6 15,731 4,103
Cash at bank 5,952 22,539
21,683 26,642
CREDITORS
Amounts falling due within one year 7 546,351 498,187
NET CURRENT LIABILITIES (524,668 ) (471,545 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

822,054

637,911

CREDITORS
Amounts falling due after more than one year 8 (648,000 ) (561,000 )

PROVISIONS FOR LIABILITIES 10 (37,386 ) (12,747 )
NET ASSETS 136,668 64,164

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair Value Reserve 115,515 54,344
Retained earnings 21,053 9,720
SHAREHOLDERS' FUNDS 136,668 64,164

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

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

Currie & Murray Investments Limited (Registered number: SC675523)

Balance Sheet - continued
31 May 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:




S A Currie - Director



R P Murray - Director


Currie & Murray Investments Limited (Registered number: SC675523)

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

1. STATUTORY INFORMATION

Currie & Murray Investments 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.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line basis over its expected useful life as follows

Fixtures and Fittings-25%

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify 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.

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.

Currie & Murray Investments Limited (Registered number: SC675523)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 10,936
DEPRECIATION
At 1 June 2023 6,480
Charge for year 2,734
At 31 May 2024 9,214
NET BOOK VALUE
At 31 May 2024 1,722
At 31 May 2023 4,456

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,105,000
Additions 154,190
Revaluations 85,810
At 31 May 2024 1,345,000
NET BOOK VALUE
At 31 May 2024 1,345,000
At 31 May 2023 1,105,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 67,091
Valuation in 2024 85,810
Cost 1,192,099
1,345,000

Currie & Murray Investments Limited (Registered number: SC675523)

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

5. INVESTMENT PROPERTY - continued

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

31.5.24 31.5.23
£    £   
Cost 1,192,099 1,037,909

Investment property was valued on an open market basis on 31 May 2024 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 4,103
Other debtors 15,731 -
15,731 4,103

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 3,371 2,984
Other creditors 542,980 495,203
546,351 498,187

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 648,000 561,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Mortgage 648,000 561,000

The company's bank hold a standard security over all investment properties held in the company.

The company's bank also hold a floating charge and negative pledge over the assets of the company.

10. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 37,386 12,747

Deferred
tax
£   
Balance at 1 June 2023 12,747
Provided during year 24,639
Balance at 31 May 2024 37,386

Currie & Murray Investments Limited (Registered number: SC675523)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES





Related Party




Transaction



Amount in the year
ended 31.05.24



Amount in the year
ended 31.05.23
Balance
receivable/
(payable)
as at
31.05.24
Balance
receivable/
(payable)
as at
31.05.23
£ £ £ £

Murray & Currie Limited (1) Loan (46,376) 1,584 (538,009) (491,633)




The relationships arises as follows:

(1) The directors of the company are also directors of Murray & Currie Limited

During the year the properties were managed by Murray & Currie Limited, however no management fees were charged.

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party