G.W. Douglas Property & Garage Company L - Accounts to registrar (filleted)

REGISTERED NUMBER: SC031202 (Scotland)

G.W. Douglas Property & Garage Company

Limited

Unaudited Financial Statements for the Year Ended 31 March 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

R A D Millar

M E D Millar

SECRETARY:

R A D Millar

REGISTERED OFFICE:

2 The Temple

Lower Largo

Leven Fife

KY8 6JH

REGISTERED NUMBER:

SC031202 (Scotland)

ACCOUNTANTS:

Gibson McKerrell Burrows Limited

28 Rutland Square

Edinburgh

EH1 2BW

FIXED ASSETS

Tangible assets

5

1,850,000

890,000

CURRENT ASSETS

Debtors

6

12,278

4,836

Cash at bank

285,774

359,759

298,052

364,595

CREDITORS

Amounts falling due within one year

7

4,425

42,591

NET CURRENT ASSETS

293,627

322,004

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,143,627

1,212,004

PROVISIONS FOR LIABILITIES

112,541

107,791

NET ASSETS

2,031,086

1,104,213

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

8

1,558,095

602,845

Retained earnings

8

472,891

501,268

SHAREHOLDERS' FUNDS

2,031,086

1,104,213

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2026 and were signed on its behalf by:

R A D Millar - Director

1.	STATUTORY INFORMATION

G.W. Douglas Property & Garage Company 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

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

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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 April 2025

700,000

18,876

7,139

190,000

916,015

Revaluations

25,000

-

935,000

960,000

At 31 March 2026

725,000

18,876

7,139

1,125,000

1,876,015

DEPRECIATION

At 1 April 2025

and 31 March 2026

-

18,876

7,139

-

26,015

NET BOOK VALUE

At 31 March 2026

725,000

-

1,125,000

1,850,000

At 31 March 2025

700,000

-

190,000

890,000

Cost or valuation at 31 March 2026 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

Valuation in 2008

469,393

-

469,393

Valuation in 2013

(163,171

)

-

35,496

(127,675

)

Valuation in 2015

(21,000

)

-

(21,000

)

Valuation in 2018

195,000

-

115,000

310,000

Valuation in 2023

78,074

-

78,074

Valuation in 2024

160,000

-

160,000

Valuation in 2025

(182,660

)

-

(182,660

)

Valuation in 2026

25,000

-

935,000

960,000

Cost

164,364

18,876

7,139

39,504

229,883

725,000

18,876

7,139

1,125,000

1,876,015

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.26

31.3.25

£

Cost

164,364

Properties and motor vehicles were valued on an open market basis basis on 31 March 2026 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Directors' current accounts

338

Tax

7,156

-

Prepayments

4,784

4,498

12,278

4,836

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Taxation and social security

223

37,998

Other creditors

4,202

4,593

4,425

42,591

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 April 2025

501,268

602,845

1,104,113

Deficit for the year

(24,597

)

(24,597

)

Dividends

(8,530

)

(8,530

)

Reclassification

4,750

(4,750

)

-

Revaluation in year

-

960,000

At 31 March 2026

472,891

1,558,095

2,030,986

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

R A D Millar

Balance outstanding at start of year

338

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

338

10.	RELATED PARTY TRANSACTIONS

During the year, total dividends of £4,265 (2025 - £9,128) were paid to the directors .

The company was under the control of the Millar family throughout the current and previous year.

During the year R A D Millar received £4,960 for services rendered to the company (2025 £4,396).