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REGISTERED NUMBER: SC316720 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Dawe Properties Limited

Dawe Properties Limited (Registered number: SC316720)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dawe Properties Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Dr Lynn Walker
Miss Hollie A Walker
Miss Rhona J Walker





SECRETARY: Dr Lynn Walker





REGISTERED OFFICE: Craighead
Linn Road
Craigmaddie
Milngavie
Glasgow
G62 8LB





REGISTERED NUMBER: SC316720 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Dawe Properties Limited (Registered number: SC316720)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,122,632 4,122,743

CURRENT ASSETS
Cash at bank 113,657 99,619

CREDITORS
Amounts falling due within one year 5 489,138 559,028
NET CURRENT LIABILITIES (375,481 ) (459,409 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,747,151

3,663,334

PROVISIONS FOR LIABILITIES 6 131,248 131,276
NET ASSETS 3,615,903 3,532,058

CAPITAL AND RESERVES
Called up share capital 7 100 100
Capital reserve 8 1,859,000 1,859,000
Fair value reserve 8 1,261,894 1,261,894
Retained earnings 8 494,909 411,064
SHAREHOLDERS' FUNDS 3,615,903 3,532,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Statement of Income and Retained Earnings has not been delivered.

Dawe Properties Limited (Registered number: SC316720)

Balance Sheet - continued
29 February 2024



The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





Dr Lynn Walker - Director


Dawe Properties Limited (Registered number: SC316720)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Dawe 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.

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.

Turnover
Turnover represents rent received.

Tangible fixed assets
The cost of tangible fixed assets is their cost, together with any incidental costs of acquisition.

Investment properties are included at fair value. Gains or losses on revaluations are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment properties - not provided
Fittings and equipment - 15% on reducing balance

Financial instruments
Basic financial instruments, including 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 administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Dawe Properties Limited (Registered number: SC316720)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fittings
Investment and
properties equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 4,122,000 10,000 4,132,000
DEPRECIATION
At 1 March 2023 - 9,257 9,257
Charge for year - 111 111
At 29 February 2024 - 9,368 9,368
NET BOOK VALUE
At 29 February 2024 4,122,000 632 4,122,632
At 28 February 2023 4,122,000 743 4,122,743

Dawe Properties Limited (Registered number: SC316720)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 29 February 2024 is represented by:

Fittings
Investment and
properties equipment Totals
£    £    £   
Valuation in 2022 4,122,000 - 4,122,000
Cost - 10,000 10,000
4,122,000 10,000 4,132,000

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

2024 2023
£    £   
Cost 2,729,035 2,729,035

The market values of the investment properties have been arrived at on the basis of a valuation carried out on 28 February 2022 by the directors of the company who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the state of the rental market in the areas where the properties are situated.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 26,967 16,834
Other creditors 462,171 542,194
489,138 559,028

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 131,248 131,276

Deferred
tax
£   
Balance at 1 March 2023 131,276
Provided during year (28 )
Deferred tax on revaluation
Balance at 29 February 2024 131,248

Dawe Properties Limited (Registered number: SC316720)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RESERVES

The capital reserve of £1,859,000 at 28 February 2024 (2023 £1,859,000) represents the value of properties bequeathed to the company by a relative of Dr L Walker.

Fair value reserve arose following revaluation of investment properties.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company received rent during the year from properties owned by Dr L Walker which it occupies on a rent free basis.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Dr Lynn Walker.