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REGISTERED NUMBER: 08424668 (England and Wales)












EUSTON PROPERTIES LTD

REPORT OF THE DIRECTOR AND

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Report of the Director 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


EUSTON PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr D T Theodorou





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 08424668 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 28 FEBRUARY 2023


The director presents his report with the financial statements of the company for the year ended 28 February 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of rental income from the investment property.

DIRECTOR
Mr D T Theodorou held office during the whole of the period from 1 March 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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:





Mr D T Theodorou - Director


30 October 2023

EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,400,000 2,400,000

CURRENT ASSETS
Debtors 13,846 1,949
Cash at bank 9,721 19,636
23,567 21,585
CREDITORS
Amounts falling due within one year 557,776 572,678
NET CURRENT LIABILITIES (534,209 ) (551,093 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,865,791

1,848,907

CREDITORS
Amounts falling due after more than one
year

5

(1,144,574

)

(1,144,464

)

PROVISIONS FOR LIABILITIES 8 (162,876 ) (162,876 )
NET ASSETS 558,341 541,567

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 536,627 536,627
Retained earnings 10 21,614 4,840
SHAREHOLDERS' FUNDS 558,341 541,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2023 and were signed by:





Mr D T Theodorou - Director


EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Euston 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts and other sales taxes.

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 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 1 (2022 - 1 ) .

EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 2,400,000
NET BOOK VALUE
At 28 February 2023 2,400,000
At 28 February 2022 2,400,000

In the opinion of the directors the market value of the investment property is not different from those stated in the accounts.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
28.2.23 28.2.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 1,144,574 1,144,464

6. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,144,574 1,144,464

7. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 1,144,574 1,144,464

The bank loan is secured by way of first legal charge against the investment property.

8. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 162,876 162,876

EUSTON PROPERTIES LTD (REGISTERED NUMBER: 08424668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2022 162,876
Balance at 28 February 2023 162,876

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary share capital 1 100 100

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

At 1 March 2022 4,840 536,627 541,467
Profit for the year 16,774 16,774
At 28 February 2023 21,614 536,627 558,241

11. ULTIMATE CONTROLLING PARTY

There is no overall control of the company by any one person.