REGISTERED NUMBER: SC223149 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Northwind (Properties) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

456,705

462,297

Investment property

5

3,098,843

2,359,502

3,555,548

2,821,799

CURRENT ASSETS

Debtors

6

501,793

500,000

Cash at bank

42,609

15,991

544,402

515,991

CREDITORS

Amounts falling due within one year

7

1,910,910

1,646,334

NET CURRENT LIABILITIES

(1,366,508

)

(1,130,343

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,189,040

1,691,456

CREDITORS

Amounts falling due after more than one year

8

1,932,420

1,522,955

NET ASSETS

256,620

168,501

CAPITAL AND RESERVES

Called up share capital

10

107

107

Share premium

1,699

1,699

Retained earnings

254,814

166,695

SHAREHOLDERS' FUNDS

256,620

168,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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.

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 28 April 2026 and were signed on its behalf by:

Mr Barry John McDermott - Director

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fittings

Heritable

and

properties

equipment

Totals

£

£

£

COST

At 1 April 2025

574,548

18,465

593,013

Additions

-

700

700

At 31 March 2026

574,548

19,165

593,713

DEPRECIATION

At 1 April 2025

114,801

15,915

130,716

Charge for year

5,745

547

6,292

At 31 March 2026

120,546

16,462

137,008

NET BOOK VALUE

At 31 March 2026

454,002

2,703

456,705

At 31 March 2025

459,747

2,550

462,297

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

2,359,502

Additions

739,341

At 31 March 2026

3,098,843

NET BOOK VALUE

At 31 March 2026

3,098,843

At 31 March 2025

2,359,502

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

501,793

500,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

76,411

64,978

Taxation and social security

35,248

36,297

Other creditors

1,799,251

1,545,059

1,910,910

1,646,334

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

1,932,420

1,522,955

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

2,008,831

1,587,933

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

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

2026

2025

value:

£

£

100

Ordinary shares

£1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31/03/2026 Mr Barry McDermott owed the company £1,793 (2025- Nil).

This was repaid after the year end.