REGISTERED NUMBER: SC560750 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

HMR Legacy Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F Campbell

Mrs K A Campbell

REGISTERED OFFICE:

C/o ICW Accountancy Ltd

15 St Leonard Street

Lanark

Lanarkshire

ML11 7AB

REGISTERED NUMBER:

SC560750 (Scotland)

ACCOUNTANTS:

ICW Accountancy Ltd

15 St Leonard Street

Lanark

Lanarkshire

ML11 7AB

FIXED ASSETS

Investment property

4

710,000

744,001

CURRENT ASSETS

Debtors

5

3,820

1,001

Cash at bank and in hand

17,109

6,888

20,929

7,889

CREDITORS

Amounts falling due within one year

6

32,590

35,745

NET CURRENT LIABILITIES

(11,661

)

(27,856

)

TOTAL ASSETS LESS CURRENT LIABILITIES

698,339

716,145

CREDITORS

Amounts falling due after more than one year

7

(594,371

)

(594,575

)

PROVISIONS FOR LIABILITIES

(9,740

)

(20,828

)

NET ASSETS

94,228

100,742

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

94,226

100,740

94,228

100,742

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 29 September 2025 and were signed on its behalf by:

Mrs K A Campbell - Director

1.	STATUTORY INFORMATION

HMR Legacy 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.

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.

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).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

744,001

Revaluations

(34,001

)

At 31 December 2024

710,000

NET BOOK VALUE

At 31 December 2024

710,000

At 31 December 2023

744,001

Fair value at 31 December 2024 is represented by:

£

Valuation in 2020

85,692

Valuation in 2020

12,091

Valuation in 2021

13,000

Valuation in 2022

10,000

Valuation in 2023

19,273

Valuation in 2024

(34,000

)

Cost

603,944

710,000

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

31.12.24

31.12.23

£

£

Cost

603,944

603,944

Investment property was valued on an open market basis on 31 December 2023 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

472

275

Other debtors

3,348

726

3,820

1,001

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,806

463

Taxation and social security

107

-

Other creditors

30,677

35,282

32,590

35,745

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

449,371

449,575

Other creditors

145,000

145,000

594,371

594,575