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REGISTERED NUMBER: 02193291















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Dow Properties Limited

Dow Properties Limited (Registered number: 02193291)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dow Properties Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Dr. K M M AREFIN,
D M Wragg





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 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,589 45,768
Investment property 5 37,725,000 35,584,000
37,757,589 35,629,768

CURRENT ASSETS
Debtors 6 295,862 128,013
Cash at bank 566,859 637,158
862,721 765,171
CREDITORS
Amounts falling due within one year 7 1,518,166 1,682,900
NET CURRENT LIABILITIES (655,445 ) (917,729 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,102,144

34,712,039

CREDITORS
Amounts falling due after more than one year 8 (17,300,000 ) (16,975,000 )

PROVISIONS FOR LIABILITIES 11 (901,595 ) (939,538 )

ACCRUALS AND DEFERRED INCOME (136,949 ) (138,277 )
NET ASSETS 18,763,600 16,659,224

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 12 13,040,322 11,149,831
Retained earnings 12 5,722,278 5,508,393
SHAREHOLDERS' FUNDS 18,763,600 16,659,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

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

Dow Properties Limited (Registered number: 02193291)

Balance Sheet - continued
30 June 2024


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 21 March 2025 and were signed on its behalf by:





M Arefin - Director


Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements
for the Year Ended 30 June 2024

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 net rent and insurance receivable for the year, excluding value added tax, except in respect of rent receivable where turnover is recognised 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 17,333 181,931 199,264
DEPRECIATION
At 1 July 2023 12,584 140,912 153,496
Charge for year 2,565 10,614 13,179
At 30 June 2024 15,149 151,526 166,675
NET BOOK VALUE
At 30 June 2024 2,184 30,405 32,589
At 30 June 2023 4,749 41,019 45,768

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 35,584,000
Additions 250,509
Revaluations 1,890,491
At 30 June 2024 37,725,000
NET BOOK VALUE
At 30 June 2024 37,725,000
At 30 June 2023 35,584,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2023 11,149,831
Valuation in 2024 1,890,490
Cost 24,684,679
37,725,000

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

30.6.24 30.6.23
£    £   
Cost 24,684,679 24,159,168

Investment properties were valued on at fair value basis on 30 June 2024 by the directors. .

Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 270,000 123,099
Other debtors 25,862 4,914
295,862 128,013

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 331,807 396,969
Other creditors 1,186,359 1,285,931
1,518,166 1,682,900

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 9) 17,300,000 16,975,000

9. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 17,300,000 16,975,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 17,300,000 16,975,000

On September 2023 the company refinanced the loan with The Coutts Bank for a term of 5 years. The company agreed for £17,300,000 loan facility,
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
30.6.24 30.6.23
£    £   
Deferred tax 901,595 939,538

Dow Properties Limited (Registered number: 02193291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 939,538
Indexation adjustment (37,943 )
Balance at 30 June 2024 901,595

Provision for deferred tax was provided in the accounts.The fair value of the investments properties in excess of their cost was disclosed in note 8. Assuming that all the properties were sold as at 30.6.2024 and after taking into account of the indexation allowances accrued, there would be a capital gain of £4,745,238 (2023-£4,934,405), hence the capital gain tax liability would be £901,595, (2023, - £937,537).

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 5,508,393 11,149,831 16,658,224
Profit for the year 213,885 213,885
Revaluation during the year - 1,890,491 1,890,491
At 30 June 2024 5,722,278 13,040,322 18,762,600

13. RELATED PARTY DISCLOSURES

During the year the company paid expenses of £192,989. on behalf of the director. The balance of directors loan account as at 30.6.2024 was £22,808, (As at 30.6.2023 - £159,181). The directors loan account is repayable on demand.

Mr and Mrs Arefin are the controlling party by virtue of the majority shareholding.