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REGISTERED NUMBER: SC541338 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

MORRISON INVESTMENTS LTD

MORRISON INVESTMENTS LTD (REGISTERED NUMBER: SC541338)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Chartered Accountants' Report 7

MORRISON INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr D I Morrison
Mr J D Morrison
Mrs E M Morrison





REGISTERED OFFICE: Westcroft
Deveron Road
HUNTLY
Aberdeenshire
AB54 8DU





REGISTERED NUMBER: SC541338 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

MORRISON INVESTMENTS LTD (REGISTERED NUMBER: SC541338)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,905 8,600
Investments 5 95,050 96,550
Investment property 6 599,774 625,000
701,729 730,150

CURRENT ASSETS
Debtors 7 5,876 1,812
Cash at bank and in hand 3,091 2,506
8,967 4,318
CREDITORS
Amounts falling due within one year 8 378,096 413,663
NET CURRENT LIABILITIES (369,129 ) (409,345 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,600

320,805

PROVISIONS FOR LIABILITIES 13,033 17,937
NET ASSETS 319,567 302,868

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 58,254 78,688
Retained earnings 261,213 224,080
SHAREHOLDERS' FUNDS 319,567 302,868

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

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

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 19 March 2025 and were signed on its behalf by:




Mr D I Morrison - Director


MORRISON INVESTMENTS LTD (REGISTERED NUMBER: SC541338)

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


1. STATUTORY INFORMATION

Morrison Investments Ltd 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 taxes and other sales taxes. Turnover includes revenue earned from property rental and management fees.

Rental Income:
Rental income from investment properties is recognised on a straight line basis over the term of the relevant lease. Income from recharged expenses is recognised once the expense payment has been made and the tenant has been notified.

Management Fees:
Revenue from management fees is recognised when the services have been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost less accumulated impairment losses.

Investment property
Investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

MORRISON INVESTMENTS LTD (REGISTERED NUMBER: SC541338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 25,214
Additions 180
At 31 July 2024 25,394
DEPRECIATION
At 1 August 2023 16,614
Charge for year 1,875
At 31 July 2024 18,489
NET BOOK VALUE
At 31 July 2024 6,905
At 31 July 2023 8,600

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Participating interests 50 50
Loans to undertakings in which the company has a
participating interest

95,000

96,500
95,050 96,550

Additional information is as follows:
Interest
in
associate
£   
COST
At 1 August 2023
and 31 July 2024 50
NET BOOK VALUE
At 31 July 2024 50
At 31 July 2023 50
Loans to
associates
£   
At 1 August 2023 96,500
Repayment in year (1,500 )
At 31 July 2024 95,000

MORRISON INVESTMENTS LTD (REGISTERED NUMBER: SC541338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 625,000
Revaluations (25,226 )
At 31 July 2024 599,774
NET BOOK VALUE
At 31 July 2024 599,774
At 31 July 2023 625,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2018 118,566
Valuation in 2019 27,480
Valuation in 2023 (50,000 )
Valuation in 2024 (25,226 )
Cost 528,954
599,774

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 528,954 528,954

Investment properties were valued on an open market basis on 31 July 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,876 1,354
Other debtors - 458
5,876 1,812

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,666 592
Taxation and social security 9,108 5,454
Other creditors 363,322 407,617
378,096 413,663

MORRISON INVESTMENTS LTD (REGISTERED NUMBER: SC541338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


9. RESERVES
Fair
value
reserve
£   
At 1 August 2023 78,688
Revaluations (20,434 )

At 31 July 2024 58,254

Fair Value Reserve
This reserve reflects cumulative revaluations of investment properties (less provision for deferred tax).

These gains or losses are non-distributable.

10. RELATED PARTY DISCLOSURES

Details of directors' loan account transactions and the year end balances are as follows:

20242023
£   £   
Opening amount due to a director41,05952,470
Received from a director during the year--
Paid to a director during the year(6,898)(11,411)
Closing amount due to a director34,16141,059

20242023
£   £   
Opening amount due to a director333,106376,209
Received from a director during the year--
Paid to a director during the year(31,250)(43,103)
Closing amount due to a director301,856333,106


The loans have no set repayment terms and no interest is chargeable.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MORRISON INVESTMENTS LTD


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 Morrison Investments Ltd for the year ended 31 July 2024 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Morrison Investments Ltd, 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 Morrison Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Morrison Investments Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. 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 Morrison Investments Ltd 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 Morrison Investments Ltd. You consider that Morrison Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morrison Investments Ltd. 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.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


19 March 2025