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REGISTERED NUMBER: SC044503 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Doonbye Properties Limited

Doonbye Properties Limited (Registered number: SC044503)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Doonbye Properties Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: J W M Manclark
R M S Milne





REGISTERED OFFICE: 7 Hopetoun Crescent
Edinburgh
EH7 4AY





REGISTERED NUMBER: SC044503 (Scotland)





ACCOUNTANTS: Jeffrey Crawford & Co
Chartered Accountants
25 Castle Terrace
Edinburgh
EH1 2ER

Doonbye Properties Limited (Registered number: SC044503)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 18,758 17,444
Investment property 5 4,938,000 4,938,000
4,956,758 4,955,444

CURRENT ASSETS
Stocks 251,530 251,530
Debtors 6 226,107 193,975
Cash at bank 683,940 616,898
1,161,577 1,062,403
CREDITORS
Amounts falling due within one year 7 69,881 48,072
NET CURRENT ASSETS 1,091,696 1,014,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,048,454

5,969,775

PROVISIONS FOR LIABILITIES 794,904 603,877
NET ASSETS 5,253,550 5,365,898

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 2,894,483 3,085,510
Retained earnings 2,358,967 2,280,288
5,253,550 5,365,898

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

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

Doonbye Properties Limited (Registered number: SC044503)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





R M S Milne - Director


Doonbye Properties Limited (Registered number: SC044503)

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

1. STATUTORY INFORMATION

Doonbye Properties 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. 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover
Turnover consists of the sales value, excluding VAT, of work in the period falling within the company's ordinary activities to supply goods and services to third parties.

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 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.

Investment properties whose fair value cannot be measured reliably are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

Listed Investments

Listed investments are shown at the quoted price at the close of business on the balance sheet date. Movements in the period are charged to the profit and loss in the period with cumulative movements reflected in the revaluation reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Doonbye Properties Limited (Registered number: SC044503)

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

2. ACCOUNTING POLICIES - continued
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 (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 December 2022 17,444
Revaluations 1,314
At 30 November 2023 18,758
NET BOOK VALUE
At 30 November 2023 18,758
At 30 November 2022 17,444

Cost or valuation at 30 November 2023 is represented by:

Other
investments
£   
Valuation in 2021 12,878
Valuation in 2022 4,566
Valuation in 2023 1,314
18,758

Doonbye Properties Limited (Registered number: SC044503)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 4,938,000
NET BOOK VALUE
At 30 November 2023 4,938,000
At 30 November 2022 4,938,000

Investment properties are stated at the directors' estimate of fair value at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 118
Amounts owed by participating interests 226,107 193,857
226,107 193,975

Amounts owed from / to related parties and participating interest are unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 54,438 29,301
Other creditors 15,443 18,771
69,881 48,072

8. RESERVES
Fair
value
reserve
£   
At 1 December 2022 3,085,510
Tax provision movement (191,027 )

At 30 November 2023 2,894,483

9. ULTIMATE CONTROLLING PARTY

The controlling party is J W M Manclark.