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REGISTERED NUMBER: 02193291















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Dow Properties Limited

Dow Properties Limited (Registered number: 02193291)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dow Properties Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Dr. K M M AREFIN,





SECRETARY: Mr. Anwar Arefin





REGISTERED OFFICE: 195 Hale Lane
Edgware
Middlesex
HA8 9QN





REGISTERED NUMBER: 02193291





ACCOUNTANTS: EKB Accountancy Services Ltd
Certified Accountants
39-41 North Road
London
N7 9DP

Dow Properties Limited (Registered number: 02193291)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,768 54,074
Investment property 5 35,584,000 38,541,289
35,629,768 38,595,363

CURRENT ASSETS
Debtors 6 128,013 168,099
Cash at bank 637,158 1,080,310
765,171 1,248,409
CREDITORS
Amounts falling due within one year 7 1,682,900 1,268,541
NET CURRENT LIABILITIES (917,729 ) (20,132 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,712,039

38,575,231

CREDITORS
Amounts falling due after more than one year 8 (16,975,000 ) (17,775,000 )

PROVISIONS FOR LIABILITIES 11 (939,538 ) (1,213,547 )

ACCRUALS AND DEFERRED INCOME (138,277 ) (139,605 )
NET ASSETS 16,659,224 19,447,079

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 12 11,149,831 14,322,120
Retained earnings 12 5,508,393 5,123,959
SHAREHOLDERS' FUNDS 16,659,224 19,447,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Dow Properties Limited (Registered number: 02193291)

Balance Sheet - continued
30 June 2023


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 28 March 2024 and were signed by:





Dr. K M M AREFIN, - Director


Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Dow Properties Limited is a private company, limited by shares , registered in Not specified/Other. 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.

The accounts have been prepared on a going concern basis since the directors agreed to finance the company as required.

Turnover
Turnover represents rent received and trading income generated from operating guest houses and short term holiday let excluding value added tax. All income receivable are recognised as turnover when the company obtains the right to consideration.

Tangible fixed assets
Fixed assets are held at costs less accumulated depreciation and any impairment charges.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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 between the recognition of income and expenses in the financial statements and their inclusion in tax assessment. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Business activities
The business carries development of properties to improve values and and generate additional income. The business activity encompassed rental of residential and commercial properties. It also operates guest house and short-tem holiday let.

Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2022 11,821 180,492 192,313
Additions 5,512 1,439 6,951
At 30 June 2023 17,333 181,931 199,264
DEPRECIATION
At 1 July 2022 11,001 127,238 138,239
Charge for year 1,583 13,674 15,257
At 30 June 2023 12,584 140,912 153,496
NET BOOK VALUE
At 30 June 2023 4,749 41,019 45,768
At 30 June 2022 820 53,254 54,074

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 38,541,289
Additions 215,000
Revaluations (3,172,289 )
At 30 June 2023 35,584,000
NET BOOK VALUE
At 30 June 2023 35,584,000
At 30 June 2022 38,541,289

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 14,322,120
Valuation in 2023 (3,172,288 )
Cost 24,434,168
35,584,000

Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. INVESTMENT PROPERTY - continued

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

30.6.23 30.6.22
£    £   
Cost 24,159,168 24,072,880

Investment properties were valued on at fair value basis on 30 June 2023 by the directors .

During the year the properties were valued by Colliers, UK's leading RICS-registered building surveyors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 123,099 168,099
Other debtors 4,914 -
128,013 168,099

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Taxation and social security 396,969 417,545
Other creditors 1,285,931 850,996
1,682,900 1,268,541

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans (see note 9) 16,975,000 17,775,000

9. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 16,975,000 17,775,000

Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 16,975,000 17,775,000

The company's banking facilities are secured by a mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company, a supplemental charge over the book debts and by mortgages over properties.

11. PROVISIONS FOR LIABILITIES

The fair value of the investments properties in excess of their cost was disclosed in note 8. Assuming all the properties were sold as at 30.6.2023 after taking into account of the indexation allowances accrued, there would be a capital gain of £4,944,935, (2022-£6,387,090), hence the capital gain tax liability would be £939,537, (2022, - £1,213.547).

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2022 5,123,959 14,322,120 19,446,079
Profit for the year 384,434 384,434
Revaluation during the year - (3,172,289 ) (3,172,289 )
At 30 June 2023 5,508,393 11,149,831 16,658,224

13. RELATED PARTY DISCLOSURES

During the year the director paid expenses of £142,895 on behalf of the company. The balance of directors loan account as at 30.6.2023 was £159,181, (As at 30.6.2022 - £16,286). The directors loan account is payable on demand.

The controlling party is Dr. K M M AREFIN,.

Mr Arefin is the controlling party by virtue of the majority shareholding.