Registered number
01836740
Downmores Limited
Filleted Accounts
28 February 2025
Downmores Limited
Registered number: 01836740
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 7,397,735 7,447,937
Current assets
Debtors 4 3,132,098 3,105,200
Cash at bank and in hand 4,114,136 4,502,018
7,246,234 7,607,218
Creditors: amounts falling due within one year 5 (131,600) (353,330)
Net current assets 7,114,634 7,253,888
Total assets less current liabilities 14,512,369 14,701,825
Provisions for liabilities (376,302) (376,302)
Net assets 14,136,067 14,325,523
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 6 1,465,036 1,465,036
Profit and loss account 12,661,031 12,850,487
Shareholders' funds 14,136,067 14,325,523
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J P McDonnell
Director
Approved by the board on 21 July 2025
Downmores Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes, for rental income from investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment Buildings and Land Not Depreciated
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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 assessments. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings
£
Cost
At 29 February 2024 7,447,937
Additions (Including SDLT Refund) (50,202)
At 28 February 2025 7,397,735
Depreciation
At 28 February 2025 -
Net book value
At 28 February 2025 7,397,735
At 28 February 2024 7,447,937
Freehold land and buildings: 2025 2024
£ £
Historical cost 5,556,397 5,606,598
Cumulative depreciation based on historical cost - -
5,556,397 5,606,598
Land and buildings above are all investment properties valued by the director Mr J P McDonnell on a fair value basis at 28.02.2025 at £7397735 (28.02.2024 : £7447937). No depreciation is charged on these investment properties as it is necessary to show a true and fair view contrary to the requirement of the Companies Act 2006.
4 Debtors 2025 2024
£ £
Other debtors 3,132,098 3,105,200
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 94,700 123,165
Other creditors 36,900 230,165
131,600 353,330
6 Revaluation reserve 2025 2024
£ £
At 29 February 2024 1,465,036 1,550,814
Deferred taxation arising on the revaluation of land and buildings - (85,778)
At 28 February 2025 1,465,036 1,465,036
7 Related party transactions
Included in the Other Debtors are loan's to related parties. The amounts due as at 28.2.2025 £3121634 (28.2.2024: £3101634). These loans are interest free and repayable on demand.
8 Other information
Downmores Limited is a private company limited by shares and incorporated in England. Its registered office is:
72 Plumstead high St
Plumstead
London
SE18 1SL
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