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REGISTERED NUMBER: 00758379 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

A.A. MICHAELIDES (BROOK GREEN) LIMITED

A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)






Contents of the Financial Statements
for the year ended 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A.A. MICHAELIDES (BROOK GREEN) LIMITED

Company Information
for the year ended 30 JUNE 2023







DIRECTORS: A.A. Michaelides
A Michaelides
M.M. Michaelides
J.M. O'Keefe





SECRETARY: A.A. Michaelides





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 00758379 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)

Statement of Financial Position
30 JUNE 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,480,963 6,590,617

CURRENT ASSETS
Debtors 6 794,979 732,479
Cash at bank and in hand 20,261 384
815,240 732,863
CREDITORS
Amounts falling due within one year 7 210,697 164,272
NET CURRENT ASSETS 604,543 568,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,085,506

7,159,208

CREDITORS
Amounts falling due after more than one
year

8

(1,988,711

)

(2,096,902

)

PROVISIONS FOR LIABILITIES 9 (795,605 ) (640,681 )
NET ASSETS 4,301,190 4,421,625

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Revaluation reserve 2,109,388 2,233,928
Retained earnings 2,091,802 2,087,697
SHAREHOLDERS' FUNDS 4,301,190 4,421,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)

Statement of Financial Position - continued
30 JUNE 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2023 and were signed on its behalf by:





A Michaelides - Director


A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)

Notes to the Financial Statements
for the year ended 30 JUNE 2023

1. STATUTORY INFORMATION

A.A. Michaelides (Brook Green) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Revenue is measured at the fair value of services provided net of VAT. Revenue for the provision of services is recognised when the services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Fixtures and fittings - 15% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Taxation
Taxation for the year 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.


A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)

Notes to the Financial Statements - continued
for the year ended 30 JUNE 2023

3. ACCOUNTING POLICIES - continued
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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 July 2022
and 30 June 2023 7,082,000 54,886 7,136,886
DEPRECIATION
At 1 July 2022 492,225 54,044 546,269
Charge for year 109,528 126 109,654
At 30 June 2023 601,753 54,170 655,923
NET BOOK VALUE
At 30 June 2023 6,480,247 716 6,480,963
At 30 June 2022 6,589,775 842 6,590,617

Cost or valuation at 30 June 2023 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2019 (418,000 ) - (418,000 )
Valuation in 2016 1,791,086 - 1,791,086
Valuation in 2013 1,465,000 - 1,465,000
Valuation in 2011 343,618 - 343,618
Cost 3,900,296 54,886 3,955,182
7,082,000 54,886 7,136,886

A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)

Notes to the Financial Statements - continued
for the year ended 30 JUNE 2023

5. TANGIBLE FIXED ASSETS - continued

If the properties had not been revalued they would have been included at the following historical cost:

30/6/23 30/6/22
£    £   
Cost 3,902,244 3,902,244

Freehold properties were valued on an open market basis on 3 July 2018 by Copping Joyce Chartered surveyors .

The fair value of the freehold properties as of June 2023 has been arrived at after considering the professional valuation above and primarily based on a valuation performed on the date by the directors. The directors are not professionally qualified valuers and therefore the valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location, considering the general condition of the properties, the number of rooms and general facilities.

6. DEBTORS
30/6/23 30/6/22
£    £   
Amounts falling due within one year:
Trade debtors - 4,000
Amounts owed by connected companies 432,979 234,479
432,979 238,479

Amounts falling due after more than one year:
Other debtors 362,000 494,000

Aggregate amounts 794,979 732,479

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 115,261 122,330
Trade creditors - 3,300
Taxation and social security 81,673 25,038
Other creditors 13,763 13,604
210,697 164,272

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/23 30/6/22
£    £   
Bank loans 1,988,711 2,096,902

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,988,711 1,667,894

A.A. MICHAELIDES (BROOK GREEN) LIMITED (REGISTERED NUMBER: 00758379)

Notes to the Financial Statements - continued
for the year ended 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan is secured by a charge on some of the freehold properties owned by the company.

9. PROVISIONS FOR LIABILITIES
30/6/23 30/6/22
£    £   
Deferred tax
Accelerated capital allowances 179 160
Deferred tax 795,426 640,521
795,605 640,681

Deferred
tax
£   
Balance at 1 July 2022 640,681
Provided during year 154,924
Balance at 30 June 2023 795,605

The deferred tax provision, as shown above, relates to the potential future tax due should the freehold properties held by the company be sold. The provision has been calculated based on the difference between the historic cost of the properties and the market value of those properties as at the Balance Sheet date at the future applicable corporation tax rates. The increase in the provision for the year reflects the change in corporation tax rates from 19% to 25%, as required by FRS 102 S1A.

10. RELATED PARTY DISCLOSURES

Debtors includes an amount of £432,979, (2022 - £234,479) owed by The Hotel Group Ltd, a connected company under the common control of the shareholders.

Debtors includes an amount of £362,000 (2022 - £362,000) owed by Juan Ltd a company under the common control of two of the directors.