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COMPANY REGISTRATION NUMBER: SC435893

Howe Street Properties Limited

Unaudited Financial Statements

31 October 2025

Howe Street Properties Limited

Financial Statements

Year ended 31 October 2025

Contents | Page

Directors' report | 1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements | 2

Statement of comprehensive income | 3

Statement of financial position | 4

Statement of changes in equity | 6

Notes to the financial statements | 7

Howe Street Properties Limited

Directors' Report

Year ended 31 October 2025
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2025 .
Directors
The directors who served the company during the year were as follows:

Mr G S Brown |
Mr S W Gunn |

Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 January 2026 and signed on behalf of the board by:

Mr S W Gunn
Director

Registered office:
216 West George Street
Glasgow
G2 2PQ

Howe Street Properties Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Howe Street Properties Limited

Year ended 31 October 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Howe Street Properties Limited for the year ended 31 October 2025, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Howe Street Properties Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Howe Street Properties Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Howe Street Properties Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Howe Street Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Howe Street Properties Limited. You consider that Howe Street Properties Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Howe Street Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
22 January 2026

Howe Street Properties Limited

Statement of Comprehensive Income

Year ended 31 October 2025

| 2025 | 2024
Note | £ | £
Turnover | 24,923 | 24,925

| -------- | --------
Gross profit | 24,923 | 24,925

Administrative expenses | 5,946 | 2,613
Other operating income | 6,700 | 8,871
| -------- | --------
Operating profit | 25,677 | 31,183

Gain on financial assets at fair value through profit or loss | 18,444 | 17,674
| -------- | --------
Profit before taxation | 44,121 | 48,857

Tax on profit | 7,007 | 6,685
| -------- | --------
Profit for the financial year and total comprehensive income | 37,114 | 42,172
| -------- | --------

All the activities of the company are from continuing operations.

Howe Street Properties Limited

Statement of Financial Position

31 October 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 4 | 282,000 | 282,000
Investments | 5 | 178,906 | 166,712
| --------- | ---------
| 460,906 | 448,712

Current assets

Debtors | 6 | 12,482 | 14,058
Cash at bank and in hand | 19,737 | 11,969
| -------- | --------
| 32,219 | 26,027

Creditors: amounts falling due within one year | 7 | 171,574 | 192,619
| --------- | ---------
Net current liabilities | 139,355 | 166,592
| --------- | ---------
Total assets less current liabilities | 321,551 | 282,120

Provisions | 12,168 | 9,851
| --------- | ---------
Net assets | 309,383 | 272,269
| --------- | ---------

Capital and reserves

Called up share capital | 100 | 100
Revaluation reserve | 51,874 | 41,997
Other reserves | 62 | 62
Profit and loss account | 257,347 | 230,110
| --------- | ---------
Shareholders funds | 309,383 | 272,269
| --------- | ---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Howe Street Properties Limited

Statement of Financial Position (continued)

31 October 2025
These financial statements were approved by the board of directors and authorised for issue on 22 January 2026 , and are signed on behalf of the board by:

Mr S W Gunn
Director

Company registration number: SC435893

Howe Street Properties Limited

Statement of Changes in Equity

Year ended 31 October 2025

| Called up share capital | Revaluation reserve | Other reserves | Profit and loss account | Total
| £ | £ | £ | £ | £
At 1 November 2023 | 100 | 25,631 | 62 | 204,304 | 230,097
Profit for the year |  |  |  | 42,172 | 42,172
Other comprehensive income for the year: |  |  |  |  |
| Reclassification from revaluation reserve to profit and loss account | – | 16,366 | – | ( 16,366) | –
| ---- | -------- | ---- | --------- | ---------
Total comprehensive income for the year | – | 16,366 | – | 25,806 | 42,172
At 31 October 2024 | 100 | 41,997 | 62 | 230,110 | 272,269
Profit for the year |  |  |  | 37,114 | 37,114
Other comprehensive income for the year: |  |  |  |  |
| Reclassification from revaluation reserve to profit and loss account | – | 9,877 | – | ( 9,877) | –
| ---- | -------- | ---- | --------- | ---------
Total comprehensive income for the year | – | 9,877 | – | 27,237 | 37,114
| ---- | -------- | ---- | --------- | ---------
At 31 October 2025 | 100 | 51,874 | 62 | 257,347 | 309,383
| ---- | -------- | ---- | --------- | ---------

Howe Street Properties Limited

Notes to the Financial Statements

Year ended 31 October 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost. They are subsequently revalued with changes in fair value recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets

| Freehold property
| £
Cost |
At 1 November 2024 and 31 October 2025 | 282,000
| ---------
Depreciation |
At 1 November 2024 and 31 October 2025 | –
| ---------
Carrying amount |
At 31 October 2025 | 282,000
| ---------
At 31 October 2024 | 282,000
| ---------

The directors has reviewed the value of the investment property at the year end and consider that it reflects fair value.
5. Investments

| Other investments other than loans
| £
Cost |
At 1 November 2024 | 166,712
Disposals | ( 6,250)
Revaluations | 18,444
| ---------
At 31 October 2025 | 178,906
| ---------
Impairment |
At 1 November 2024 and 31 October 2025 | –
| ---------

Carrying amount |
At 31 October 2025 | 178,906
| ---------
At 31 October 2024 | 166,712
| ---------

6. Debtors

| 2025 | 2024
| £ | £
Prepayments and accrued income | 12,482 | 14,058
| -------- | --------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Other Creditors | 105,643 | 105,642
Accruals and deferred income | 2,766 | 2,766
Corporation tax | 4,690 | 5,736
Director loan accounts | 58,475 | 78,475
| --------- | ---------
| 171,574 | 192,619
| --------- | ---------

8. Directors' advances, credits and guarantees
The amount due to the directors amounted to £58,475 (2024: £78,475) at the year end.
9. Related party transactions
Other creditors includes £53,042 (2024: £53,042) due to Gunn Property Consultants Limited and £52,600 (2024: £52,600) due to Sutherland Brown Limited, these companies have a director in common with Howe Street Properties Limited .