Downie Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC136377

Downie Properties Limited

Filleted Unaudited Financial Statements

31 March 2026

Downie Properties Limited

Financial Statements

Year ended 31 March 2026

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 4

Downie Properties Limited

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	4		175,000	175,000

Current assets

Debtors	5	10,209	–
Cash at bank and in hand		5,493	15,474
		--------	--------
		15,702	15,474

Creditors: amounts falling due within one year	6	10,710		3,948
		--------		--------
Net current assets			4,992	11,526
			---------	---------
Total assets less current liabilities			179,992	186,526
			---------	---------

Capital and reserves

Called up share capital	100,000	100,000
Profit and loss account	79,992	86,526
	---------	---------
Shareholders funds	179,992	186,526
	---------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 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 .

Downie Properties Limited

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 21 July 2026 , and are signed on behalf of the board by:

A C Swarbrick

Director

Company registration number: SC136377

Downie Properties Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 1 North Street, ELGIN, Moray, IV30 1UA.

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.

Investment properties

Investment properties are included at fair value. Gains are recognised in the income statement and deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Revenue recognition

Turnover consists of rents received during the year.

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.

4. Tangible assets

	Investment Property
	£
Valuation
At 1 April 2025 and 31 March 2026	175,000
	---------
Depreciation
At 1 April 2025 and 31 March 2026	–
	---------
Carrying amount
At 31 March 2026	175,000
	---------
At 31 March 2025	175,000
	---------

The investment property was revalued on 24 January 2024 by a firm of Chartered Surveyors based on market value with the benefit of vacant possession. The Directors are confident that the market value of the property obtained at the above date correctly reflects the value as at 31 March 2026.

5. Debtors

	2026	2025
	£	£
Other debtors	10,209	–
	--------	----

6. Creditors: amounts falling due within one year

	2026	2025
	£	£
Corporation tax	–	3,238
Other creditors	10,710	710
	--------	-------
	10,710	3,948
	--------	-------

7. Profit and loss account reserves

Included within profit and loss account reserves is an amount of £74,548 (2025 - £74,548) which relates to non-distributable reserves arising from investment property fair value adjustments recognised in the profit and loss account.

8. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS102 1A.