IRIS Accounts Production v23.2.0.158 00520542 Board of Directors Board of Directors 31.3.23 1.4.22 31.3.23 31.3.23 The principal activity of the Company in the year under review was that of property investment and development. true false true false false true false Fair value model Ordinary Shares 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh005205422022-03-31005205422023-03-31005205422022-04-012023-03-31005205422021-03-31005205422021-04-012022-03-31005205422022-03-3100520542ns10:Originalns15:EnglandWales2022-04-012023-03-3100520542ns14:PoundSterlingns10:Original2022-04-012023-03-3100520542ns10:Originalns10:Director12022-04-012023-03-3100520542ns10:Original2022-04-012023-03-3100520542ns10:Originalns10:Director22022-04-012023-03-3100520542ns10:Originalns10:Consolidated2023-03-3100520542ns10:Original2023-03-3100520542ns10:Originalns10:ConsolidatedGroupCompanyAccounts2022-04-012023-03-3100520542ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3100520542ns10:Originalns10:Consolidatedns10:SmallEntities2022-04-012023-03-3100520542ns10:Originalns10:Consolidatedns10:AuditExemptWithAccountantsReport2022-04-012023-03-3100520542ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3100520542ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3100520542ns10:Originalns10:Consolidatedns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3100520542ns10:SmallCompaniesRegimeForAccountsns10:Originalns10:Consolidated2022-04-012023-03-3100520542ns10:Originalns10:FullAccounts2022-04-012023-03-3100520542ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3100520542ns10:Originalns10:Consolidated2022-04-012023-03-3100520542ns10:CompanySecretary1ns10:Original2022-04-012023-03-3100520542ns10:Originalns10:RegisteredOffice2022-04-012023-03-3100520542ns10:Originalns10:Consolidated2021-04-012022-03-3100520542ns10:Original2022-03-3100520542ns10:Originalns5:CurrentFinancialInstruments2023-03-3100520542ns10:Originalns5:CurrentFinancialInstruments2022-03-3100520542ns5:ShareCapitalns10:Original2023-03-3100520542ns5:ShareCapitalns10:Original2022-03-3100520542ns10:Originalns5:SharePremium2023-03-3100520542ns10:Originalns5:SharePremium2022-03-3100520542ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3100520542ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-03-3100520542ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3100520542ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3100520542ns10:Originalns5:PlantMachinery2022-04-012023-03-3100520542ns10:Original2021-04-012022-03-3100520542ns10:Originalns5:PlantMachinery2022-03-3100520542ns10:Originalns5:PlantMachinery2023-03-3100520542ns10:Originalns5:PlantMachinery2022-03-3100520542ns10:Originalns5:CostValuation2022-03-3100520542ns10:Original2022-03-3100520542ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100520542ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3100520542ns10:Originalns5:Non-currentFinancialInstruments2023-03-3100520542ns10:Originalns5:Non-currentFinancialInstruments2022-03-3100520542ns10:Originalns5:DeferredTaxation2022-03-3100520542ns10:Originalns5:DeferredTaxation2022-04-012023-03-3100520542ns10:Originalns5:DeferredTaxation2023-03-3100520542ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 00520542 (England and Wales)













Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 31 March 2023

for

Georgian Properties Limited and
Subsidiary Company

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


Georgian Properties Limited and
Subsidiary Company

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R D Kiashek
Mrs Ilmije Kiashek





SECRETARY: Mrs Ilmije Kiashek





REGISTERED OFFICE: Elliotts Shah
4th Floor
167 Fleet Street
London
EC4A 2EA





REGISTERED NUMBER: 00520542 (England and Wales)





ACCOUNTANTS: Elliotts Shah
Chartered Accountants
4th Floor
167 Fleet Street
London
EC4A 2EA

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Report of the Directors
for the Year Ended 31 March 2023

The directors present their report with the financial statements of the Company and the Group for the year ended 31 March 2023.

REVIEW OF BUSINESS
During the course of the year the commercial unit on the ground floor was let at an annual rent of £86,902 (2022: £86,902), and the two residential units on the upper parts were let at a slightly lower annual rent of £34,775 compared to prior year.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

R D Kiashek
Mrs Ilmije Kiashek

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R D Kiashek - Director


19 October 2023

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Consolidated Income Statement
for the Year Ended 31 March 2023

2023 2022
Notes £    £    £    £   

RENTS RECEIVABLE 121,677 124,279

Property costs 10,709 10,755
Administrative expenses 20,598 26,650
31,307 37,405
90,370 86,874

Change in fair value of property - 339,725
OPERATING PROFIT 4 90,370 426,599

Interest receivable and similar income 85 5
90,455 426,604

Interest payable and similar expenses 10,323 6,921
PROFIT BEFORE TAXATION 80,132 419,683

Tax on profit 15,371 79,936
PROFIT FOR THE FINANCIAL YEAR 64,761 339,747

Profit attributable to:
Owners of the parent 64,761 339,747

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Consolidated Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 2,318 3,090
Investments 7 - -
Investment property 8 2,380,000 2,380,000
2,382,318 2,383,090

CURRENT ASSETS
Debtors 9 12,805 10,400
Cash at bank and in hand 196,761 151,740
209,566 162,140
CREDITORS
Amounts falling due within one year 10 72,823 58,123
NET CURRENT ASSETS 136,743 104,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,519,061

2,487,107

CREDITORS
Amounts falling due after more than one
year

11

(152,445

)

(165,252

)

PROVISIONS FOR LIABILITIES 13 (133,892 ) (133,892 )
NET ASSETS 2,232,724 2,187,963

CAPITAL AND RESERVES
Called up share capital 14 600 600
Share premium 19,500 19,500
Fair value reserve 1,637,868 1,637,868
Retained earnings 574,756 529,995
SHAREHOLDERS' FUNDS 2,232,724 2,187,963

The Company and the Group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company and the Group to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the Group 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 and the Group as at the end of each financial year and of the Group's 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 and the Group.

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Consolidated Balance Sheet - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




R D Kiashek - Director



Mrs Ilmije Kiashek - Director


Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Company Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 2,318 3,090
Investments 7 100 100
Investment property 8 1,185,000 1,185,000
1,187,418 1,188,190

CURRENT ASSETS
Debtors 9 213,030 735,971
Cash at bank 148,350 111,033
361,380 847,004
CREDITORS
Amounts falling due within one year 10 38,897 35,101
NET CURRENT ASSETS 322,483 811,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,509,901

2,000,093

PROVISIONS FOR LIABILITIES 13 66,665 47,253
NET ASSETS 1,443,236 1,952,840

CAPITAL AND RESERVES
Called up share capital 14 600 600
Share premium 19,500 19,500
Fair value reserve 815,493 1,342,868
Retained earnings 607,643 589,872
SHAREHOLDERS' FUNDS 1,443,236 1,952,840

Company's profit for the financial year 37,771 88,220

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Company Balance Sheet - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




Mrs Ilmije Kiashek - Director



R D Kiashek - Director


Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Georgian Properties Limited and Subsidiary Company 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 General 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable from property owned by the company.

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 etc - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 year 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 year was 2 (2022 - 2 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2022 - 2 ) .

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 772 1,030
Directors remuneration 10,000 10,000

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


6. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 7,643
DEPRECIATION
At 1 April 2022 4,553
Charge for year 772
At 31 March 2023 5,325
NET BOOK VALUE
At 31 March 2023 2,318
At 31 March 2022 3,090

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS - continued

Company
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 7,643
DEPRECIATION
At 1 April 2022 4,553
Charge for year 772
At 31 March 2023 5,325
NET BOOK VALUE
At 31 March 2023 2,318
At 31 March 2022 3,090


7. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100
At 31 March 2022 100


The company owns the whole of the issued share capital of Georgian Properties Investments Limited (GPIL), a company engaged in the business of holding investment properties. The GPIL is incorporated and registered in England and Wales.

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

8. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,380,000
NET BOOK VALUE
At 31 March 2023 2,380,000
At 31 March 2022 2,380,000

The Group holds investment properties which consists of holding the freehold interest in the whole block comprising of a retail shop on the ground floor and two tenanted flats on the upper parts. The retail unit is let to a supermarket Group. The tenanted flats are stated at fair value by reference to recent transactions of other similar flats sold in the block as at the balance sheet date as determined by directors.

The investment properties were revalued on a fair value basis by the director of the company as at the year end. The historical cost of the investment properties is £742,132 (2022: £742,132).

Company
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,185,000
NET BOOK VALUE
At 31 March 2023 1,185,000
At 31 March 2022 1,185,000

At the company level, investment properties included on the balance sheet consists of freehold interest in the whole block and a retail shop on the ground floor let to a supermarket group. The investment property is included at what the Directors consider to be the market values taking account of recent transactions in the vicinity.


9. DEBTORS

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year:
Amounts owed by group undertakings - - 25,000 25,000
Tenants deposits held by government agency 3,663 3,663 - -
Prepayments and accrued income 9,142 6,737 - -
12,805 10,400 25,000 25,000

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

9. DEBTORS - continued

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - - 188,030 710,971

Aggregate amounts 12,805 10,400 213,030 735,971

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 12) 21,072 14,240 - -
Tax 15,372 15,388 13,594 12,438
Social security and other taxes 3,025 - 3,025 -
Tenants deposits held by government agency 3,663 3,663 - -
Directors' current accounts - 3,042 - 3,042
Accrued expenses 29,691 21,790 22,278 19,621
72,823 58,123 38,897 35,101

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Bank loans (see note 12) 152,445 165,252

Amounts falling due in more than five years:

Group
2023 2022
£    £   
Repayable by instalments
Bank loans more than 5 years 73,671 89,652

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

12. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans within one year 21,072 14,240
Amounts falling due between one and two years:
Bank loans between 1-2 years 36,000 28,800
Amounts falling due between two and five years:
Bank loans between 2-5 years 42,774 46,800
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more than 5 years 73,671 89,652

The bank loan facility is secured by a fixed charge over the two residential properties of the company and is repayable over 10 years from date of drawdown.

13. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 133,892 133,892 66,665 47,253

Group
Deferred
tax
£   
Balance at 1 April 2022 133,892
Balance at 31 March 2023 133,892

Company
Deferred
tax
£   
Balance at 1 April 2022 47,253
Provided during year 19,412
Balance at 31 March 2023 66,665

Georgian Properties Limited and
Subsidiary Company (Registered number: 00520542)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
600 Ordinary Shares £1 600 600

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the date of approval of these accounts is The Executrix of the Estate of late Mrs Irene Kiashek.