Is buying a real-estate property by limited company subject to corporation tax?

A limited company in UK makes a pre-tax profit of X in current financial year.

If the company buy a property (a house) before the end of this financial year costing Y, can the cost of the house be deducted from taxable profit or is it still subject to corporation tax?

In the other words, corporation tax for this financial year should be payed from X or X-Y profit?