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REGISTERED NUMBER: 12487399 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2022 TO 31 JANUARY 2023

FOR

SCHLOPHIE PROPERTIES LTD

SCHLOPHIE PROPERTIES LTD (REGISTERED NUMBER: 12487399)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2022 TO 31 JANUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SCHLOPHIE PROPERTIES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MARCH 2022 TO 31 JANUARY 2023







DIRECTOR: Mr D Zenios





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 12487399 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

SCHLOPHIE PROPERTIES LTD (REGISTERED NUMBER: 12487399)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 627,960 254,833

CURRENT ASSETS
Debtors 5 358 46,695
Cash at bank 4,244 39,885
4,602 86,580
CREDITORS
Amounts falling due within one year 6 627,157 340,850
NET CURRENT LIABILITIES (622,555 ) (254,270 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,405

563

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,305 463
SHAREHOLDERS' FUNDS 5,405 563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9 October 2023 and were signed by:





Mr D Zenios - Director


SCHLOPHIE PROPERTIES LTD (REGISTERED NUMBER: 12487399)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2022 TO 31 JANUARY 2023

1. STATUTORY INFORMATION

Schlophie Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been decreased by the amount of depreciation.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was NIL (2022 - NIL).

SCHLOPHIE PROPERTIES LTD (REGISTERED NUMBER: 12487399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 JANUARY 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 254,833
Additions 373,127
At 31 January 2023 627,960
NET BOOK VALUE
At 31 January 2023 627,960
At 28 February 2022 254,833

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 358 46,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 199
Amounts owed to group undertakings 624,984 339,509
Taxation and social security 88 -
Other creditors 2,085 1,142
627,157 340,850

7. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £50 (2022: £50) owed to the director, Mr D Zenios.

8. ULTIMATE CONTROLLING PARTY

During the period under review, the company was under the control of the director, Mr D Zenios.