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Company No: 08699417 (England and Wales)

DOWNS EXECUTIVE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

DOWNS EXECUTIVE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

DOWNS EXECUTIVE LIMITED

BALANCE SHEET

As at 30 September 2024
DOWNS EXECUTIVE LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 775,000 775,000
775,000 775,000
Current assets
Debtors 4 1,800 0
Cash at bank and in hand 15,814 13,206
17,614 13,206
Creditors: amounts falling due within one year 5 ( 719,870) ( 718,568)
Net current liabilities (702,256) (705,362)
Total assets less current liabilities 72,744 69,638
Net assets 72,744 69,638
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 19,754 19,754
Profit and loss account 52,890 49,784
Total shareholders' funds 72,744 69,638

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Downs Executive Limited (registered number: 08699417) were approved and authorised for issue by the Board of Directors on 14 August 2025. They were signed on its behalf by:

A K Rae
Director
DOWNS EXECUTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
DOWNS EXECUTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Downs Executive Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 19-21 Catherine Place, London, SW1E 6DX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Turnover

Turnover relates to rent receivable during the year. Rental income is recognised on an accruals basis in accordance with the relevant rental agreement.

Taxation

Current tax
The tax charge is based on the taxable profit for the year plus any adjustments required to the prior year. Taxable profit differs from net profit, as reported in the statement of income and retained earnings, because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.

Investment property

Investment property is carried at fair value determined annually by the directors. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Trade and other debtors and creditors are classified as basic financial instruments and measured at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 October 2023 775,000
As at 30 September 2024 775,000

The company's investment property has been valued on an open market value for existing use basis, as at January 2015, at £775,000 by Knight Frank. The directors consider there to have been no significant change in this valuation to 30 September 2024.

If the investment property had been accounted for under the historic cost accounting rules, the property would have been included at its cost of £755,246 (2023: £755,246).

4. Debtors

2024 2023
£ £
Other debtors 1,800 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other loans 707,256 707,256
Accruals and deferred income 12,614 11,312
719,870 718,568

6. Related party transactions

Included within creditors is £707,256 (2023: £707,256) due to B A C Kingham, the sole shareholder of the company. The loan is interest-free and has no set date for repayment.

During the year the company paid £12,000 (2023: £12,000) for consultancy services to Reliance Trust Limited, a company of which B A C Kingham is a director. Included within accruals and deferred income at the year end is £6,000 (2023: £6,000) due to Reliance Trust Limited.