REGISTERED NUMBER: SC118260 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COLIN MURRAY DEVELOPMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C M Murray

Mrs J Murray

R C Murray

Mrs R Hutchison

SECRETARY:

Mrs J Murray

REGISTERED OFFICE:

9 Glasgow Road

Paisley

PA1 3QS

REGISTERED NUMBER:

SC118260 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

BANKERS:

Handelsbanken plc

First Floor

Camas House

Fairways Business Park

Inverness

IV2 6AA

FIXED ASSETS

2,071,385

Tangible assets

5

2,043,078

55,001

Investments

6

55,001

2,126,386

2,098,079

CURRENT ASSETS

109,581

Stocks

109,581

5,960

Debtors

7

633,217

2,002,465

Cash at bank

2,510,335

2,118,006

3,253,133

CREDITORS

890,608

Amounts falling due within one year

8

1,684,964

1,227,398

NET CURRENT ASSETS

1,568,169

3,353,784

TOTAL ASSETS LESS CURRENT LIABILITIES

3,666,248

266,940

PROVISIONS FOR LIABILITIES

266,501

3,086,844

NET ASSETS

3,399,747

CAPITAL AND RESERVES

15,000

Called up share capital

15,000

3,071,844

Retained earnings

3,384,747

3,086,844

SHAREHOLDERS' FUNDS

3,399,747

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 15 September 2025 and were signed on its behalf by:

C M Murray - Director

Mrs J Murray - Director

1.	STATUTORY INFORMATION

Colin Murray Development 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about Colin Murray Development Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Freehold property

-

1% on cost

Improvements to property

-

1% on cost

Plant & machinery

-

15% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment. Provision is made against the carrying value when the directors consider that there has been a permanent diminution in value.

Stocks

Stock is valued at the lower of cost and expected selling price less costs to complete and sell and refers to house building and other land development costs.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts.

Bank overdrafts are shown within borrowings in current liabilities.

Pension costs and other post retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Financial instruments

The company mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties and loans to and from related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Dividends received are included in the company financial statements in the period in which the related dividends are actually paid, or in respect of the final dividend for the year, approved by shareholders.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant &

Totals

property

property

machinery

£

£

£

£

COST

At 1 January 2024

2,551,041

2,378,488

108,936

63,617

Disposals

(63,617

)

-

-

(63,617

)

At 31 December 2024

2,487,424

2,378,488

108,936

-

DEPRECIATION

At 1 January 2024

479,656

384,692

36,176

58,788

Charge for year

23,478

22,386

1,092

-

Eliminated on disposal

(58,788

)

-

-

(58,788

)

At 31 December 2024

444,346

407,078

37,268

-

NET BOOK VALUE

At 31 December 2024

2,043,078

1,971,410

71,668

-

At 31 December 2023

2,071,385

1,993,796

72,760

4,829

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

55,001

NET BOOK VALUE

At 31 December 2024

55,001

At 31 December 2023

55,001

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

4,351

1,820

Amounts owed by group undertakings

595,000

-

Other debtors

33,866

4,140

633,217

5,960

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

2,160

349,580

Trade creditors

97,886

7,302

Amounts owed to group undertakings

1,507,488

440,001

Taxation and social security

3,831

25,222

Other creditors

73,599

68,503

1,684,964

890,608

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdrafts

2,160

349,580

The company, together with Las Plant Hire Ltd and Limehillock Quarries Ltd, has entered into a group overdraft facility provided by Handelsbanken plc.

Each of the companies has granted a first and only Bond and Floating charge in favour of Svenska Handelsbanken AB (publ), the parent company of Handelsbanken plc, as security for those advances.

In addition:

-

there is also an unlimited intercompany composite guarantee granted by this company, Las Plant Hire Ltd and Limehillock Quarries Ltd in respect of each company's borrowing from the Bank.

-

the Bank holds a first standard security granted by Colin Murray Development Ltd over land that the company owns.

10.	ULTIMATE CONTROLLING PARTY