Company No: 08699417 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	775,000		775,000
		775,000		775,000
Current assets
Debtors	4	1,800		1,800
Cash at bank and in hand		1,664		15,814
		3,464		17,614
Creditors: amounts falling due within one year	5	( 739,918)		( 719,870)
Net current liabilities		(736,454)		(702,256)
Total assets less current liabilities		38,546		72,744
Net assets		38,546		72,744
Capital and reserves
Called-up share capital		100		100
Revaluation reserve		19,754		19,754
Profit and loss account		18,692		52,890
Total shareholders' funds		38,546		72,744

For the financial year ending 30 September 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Downs Executive Limited (registered number: 08699417) were approved and authorised for issue by the Board of Directors on 17 September 2026. They were signed on its behalf by:

A K Rae Director

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.

The functional currency of Downs Executive Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

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 ompany’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 initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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

	2025		2024
	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 2024	775,000
As at 30 September 2025	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 2025.

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 (2024: £755,246).

4. Debtors

	2025		2024
	£		£
Other debtors	1,800		1,800

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other loans	727,256		707,256
Accruals and deferred income	12,662		12,614
	739,918		719,870

6. Related party transactions

Included within creditors is £727,256 (2024: £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 incurred costs of £13,800 (2024: £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 £6,600 (2024: £6,000) due to Reliance Trust Limited.