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REGISTERED NUMBER: SC713476 (Scotland)















Financial Statements for the Period 28 October 2021 to 31 October 2022

for

Archontes Property Limited

Archontes Property Limited (Registered number: SC713476)






Contents of the Financial Statements
for the Period 28 October 2021 to 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Archontes Property Limited

Company Information
for the Period 28 October 2021 to 31 October 2022







DIRECTORS: Mrs L Athanassopoulos
Dr A Athanassopoulos





REGISTERED OFFICE: 18 North Silver Street
Aberdeen
AB10 1JU





REGISTERED NUMBER: SC713476 (Scotland)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

Archontes Property Limited (Registered number: SC713476)

Balance Sheet
31 October 2022

Notes £    £   
FIXED ASSETS
Tangible assets 5 45,239
Investment property 6 840,000
885,239

CURRENT ASSETS
Debtors 7 26,330
Cash at bank 110
26,440
CREDITORS
Amounts falling due within one year 8 851,716
NET CURRENT LIABILITIES (825,276 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,963

PROVISIONS FOR LIABILITIES 8,496
NET ASSETS 51,467

CAPITAL AND RESERVES
Called up share capital 9 2
Fair value reserve 10 94,978
Retained earnings 10 (43,513 )
SHAREHOLDERS' FUNDS 51,467

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2022 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.

Archontes Property Limited (Registered number: SC713476)

Balance Sheet - continued
31 October 2022


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 3 November 2023 and were signed on its behalf by:





Mrs L Athanassopoulos - Director


Archontes Property Limited (Registered number: SC713476)

Notes to the Financial Statements
for the Period 28 October 2021 to 31 October 2022

1. STATUTORY INFORMATION

Archontes Property 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.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies has been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at fair value of the consideration received or receivable. The policies adopted for the recognition of turnover is as follows:

Rental property
Rental income is recognised based on the monthly rental periods, in accordance with the property rental agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in the fair value is recognised in the Income Statement.

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 balance sheet date.


Archontes Property Limited (Registered number: SC713476)

Notes to the Financial Statements - continued
for the Period 28 October 2021 to 31 October 2022

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
Additions 48,983 1,835 50,818
At 31 October 2022 48,983 1,835 50,818
DEPRECIATION
Charge for period 5,235 344 5,579
At 31 October 2022 5,235 344 5,579
NET BOOK VALUE
At 31 October 2022 43,748 1,491 45,239

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 736,526
Revaluations 103,474
At 31 October 2022 840,000
NET BOOK VALUE
At 31 October 2022 840,000

Archontes Property Limited (Registered number: SC713476)

Notes to the Financial Statements - continued
for the Period 28 October 2021 to 31 October 2022

6. INVESTMENT PROPERTY - continued

Fair value at 31 October 2022 is represented by:
£   
Valuation in 2022 103,474
Cost 736,526
840,000

The investment properties were valued at fair value on 31 October 2022 by the company directors. Gains are recognised in the Income Statement.Deferred taxation is provided on these gains at the rates expected to apply when the properties are sold.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 26,330

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to associates 476,968
Other creditors 374,748
851,716

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
2 Ordinary £1 2

2 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

Profit for the period 51,465 51,465
Transfers between reserves (94,978 ) 94,978 -
At 31 October 2022 (43,513 ) 94,978 51,465