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REGISTERED NUMBER: SC223149 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Northwind (Properties) Limited

Northwind (Properties) Limited (Registered number: SC223149)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northwind (Properties) Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mr Barry John McDermott
Mrs Marisa McDermott





SECRETARY: Mr Barry John McDermott





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC223149 (Scotland)





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

Northwind (Properties) Limited (Registered number: SC223149)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 462,297 468,079
Investment property 5 2,359,502 2,137,352
2,821,799 2,605,431

CURRENT ASSETS
Debtors 6 500,000 1,106,038
Cash at bank 15,991 22,252
515,991 1,128,290
CREDITORS
Amounts falling due within one year 7 1,646,334 1,530,485
NET CURRENT LIABILITIES (1,130,343 ) (402,195 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,691,456

2,203,236

CREDITORS
Amounts falling due after more than one
year

8

1,522,955

1,490,449
NET ASSETS 168,501 712,787

CAPITAL AND RESERVES
Called up share capital 10 107 107
Share premium 1,699 1,699
Retained earnings 166,695 710,981
SHAREHOLDERS' FUNDS 168,501 712,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Northwind (Properties) Limited (Registered number: SC223149)

Balance Sheet - continued
31 March 2025


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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Mr Barry John McDermott - Director


Northwind (Properties) Limited (Registered number: SC223149)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Northwind (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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable properties - 1% on cost
Fittings and equipment - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Northwind (Properties) Limited (Registered number: SC223149)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

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 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
properties equipment Totals
£    £    £   
COST
At 1 April 2024 574,548 18,025 592,573
Additions - 440 440
At 31 March 2025 574,548 18,465 593,013
DEPRECIATION
At 1 April 2024 109,056 15,438 124,494
Charge for year 5,745 477 6,222
At 31 March 2025 114,801 15,915 130,716
NET BOOK VALUE
At 31 March 2025 459,747 2,550 462,297
At 31 March 2024 465,492 2,587 468,079

Northwind (Properties) Limited (Registered number: SC223149)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 2,137,352
Additions 222,150
At 31 March 2025 2,359,502
NET BOOK VALUE
At 31 March 2025 2,359,502
At 31 March 2024 2,137,352

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 500,000 1,106,038

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 64,978 87,616
Taxation and social security 36,297 24,909
Other creditors 1,545,059 1,417,960
1,646,334 1,530,485

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Bank loans 1,522,955 1,490,449

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 1,587,933 1,578,065

Northwind (Properties) Limited (Registered number: SC223149)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
2 A Ordinary £1 2 2
2 B Ordinary £1 2 2
2 C Ordinary £1 2 2
1 D Ordinary £1 1 1
7 7

Allotted and issued:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary shares £1 100 100

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Marisa McDermott.