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REGISTERED NUMBER: 04575048 (England and Wales)















Unaudited Financial Statements

for the Period 1 April 2023 to 30 September 2024

for

Condie Investments Limited

Condie Investments Limited (Registered number: 04575048)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Condie Investments Limited

Company Information
for the Period 1 April 2023 to 30 September 2024







DIRECTOR: N R Blyth



REGISTERED OFFICE: Fairhurst House
7 Acorn Business Park
Heaton Lane
Stockport
Cheshire
SK4 1AS



REGISTERED NUMBER: 04575048 (England and Wales)



ACCOUNTANTS: Raise
Chartered Accountants
10th Floor
3 Hardman Street
Spinningfields
Manchester
M3 3HF



BANKERS: Handlesbanken
8 Acorn Business Park
Heaton Lane
Stockport
SK4 1AS



SOLICITORS: Hill Dickinson
1 Union Court
Liverpool
L2 4SJ

Condie Investments Limited (Registered number: 04575048)

Balance Sheet
30 September 2024

30.9.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,524 26,032
Investments 5 - 3,000
Investment property 6 8,011,401 11,896,408
8,030,925 11,925,440

CURRENT ASSETS
Debtors 7 820,658 120,762
Cash at bank 403,781 220,008
1,224,439 340,770
CREDITORS
Amounts falling due within one year 8 2,845,408 593,874
NET CURRENT LIABILITIES (1,620,969 ) (253,104 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,409,956

11,672,336

CREDITORS
Amounts falling due after more than one year 9 - (5,199,438 )

PROVISIONS FOR LIABILITIES (328,674 ) (449,879 )
NET ASSETS 6,081,282 6,023,019

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 11 986,022 2,367,782
Retained earnings 11 5,094,260 3,654,237
SHAREHOLDERS' FUNDS 6,081,282 6,023,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 8 May 2025 and were signed by:



N R Blyth - Director


Condie Investments Limited (Registered number: 04575048)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 September 2024

1. STATUTORY INFORMATION

Condie Investments Limited is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment properties are revalued annually and any any revaluation surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

Fixed asset investments
Fixed asset investments are shown at cost less provision for impairment.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, loans, overdrafts and cash at bank, which are measured at amortised cost.

Taxation
Taxation for the period 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 period 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 period was 3 (2023 - 3 ) .

Condie Investments Limited (Registered number: 04575048)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 30 September 2024 51,009 5,550 56,559
DEPRECIATION
At 1 April 2023 24,977 5,550 30,527
Charge for period 6,508 - 6,508
At 30 September 2024 31,485 5,550 37,035
NET BOOK VALUE
At 30 September 2024 19,524 - 19,524
At 31 March 2023 26,032 - 26,032

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 3,000
Impairments (3,000 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 March 2023 3,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 11,896,408
Disposals (3,885,007 )
At 30 September 2024 8,011,401
NET BOOK VALUE
At 30 September 2024 8,011,401
At 31 March 2023 11,896,408

The historic cost of investment property was £6,696,704.74 (2023 - £9,546,548.83).

The investment properties were acquired between March 2003 and August 2009. The company also purchased a property in May 2022.

Investment properties, which are freehold and long leasehold properties, were subject to an external valuation on 03 May 2022 by Handlesbanken PLC at £8,011,401. The properties were valued on a market value basis.

Condie Investments Limited (Registered number: 04575048)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Trade debtors 235,712 33,317
Other debtors 584,946 87,445
820,658 120,762

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Bank loans and overdrafts 2,425,850 220,812
Trade creditors 117,258 90,729
Taxation and social security 65,854 23,698
Other creditors 236,446 258,635
2,845,408 593,874

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 31.3.23
£    £   
Bank loans - 5,199,438

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 31.3.23
£    £   
Bank loans 2,425,750 5,420,250

The company has a five year facility which expires in September 2027. The bank loan is secured by a first legal charge on the various properties acquired and a debenture over the company's whole assets and undertakings. The interest rate applicable to the loan is 3% above The Bank of England interest rate.

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 3,654,237 2,367,782 6,022,019
Profit for the period 58,263 58,263
Surplus on revaluation of
freehold property 1,381,760 (1,381,760 ) -
At 30 September 2024 5,094,260 986,022 6,080,282