NOTES TO THE FINANCIAL STATEMENTS
Altura Credit Union Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2024 13. INVESTMENT IN ASSOCIATES Unlisted at cost
Metacu Management Designated Activity €
CU Mortgage Service Designated Activity €
Total
€
-
265,000 31,250 ─────── 296,250 ═══════
265,000 71,250 ─────── 336,250 ═══════
Cost at 1 October 2023 Additions Cost at 30 September 2024
40,000 ─────── 40,000 ═══════
Interests in associate The credit union has interests in the following associates: Associate
Type of Shares held Redeemable A Ordinary
Proportion held %
Net Assets
Profit or Loss € 8,098
€
6.25
4,056,303
Metacu Management Designated Activity Company CU Mortgage Services Designated Activity Company
2.53
-
-
Ordinary
The effect of including the investment as if it had been accounted for using the equity method would be as follows: Share of net assets € Metacu Management DAC At 1 October 2023 253,013 Share of profit/(loss) for the financial year after tax 506 ─────── At 30 September 2024 253,519 ═══════ The above financial information in respect of Metacu Management Designated Activity Company was extracted from the audited financial statements for the period ended 31 December 2023. CU Mortgage Services DAC The company was newly incorporated in January 2024, therefore there are no financial results available yet.
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