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REGISTERED NUMBER: 10634994 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PAVY INVESTMENTS LIMITED

PAVY INVESTMENTS LIMITED (REGISTERED NUMBER: 10634994)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PAVY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr A P Georgiou
Mr S Makris





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 10634994 (England and Wales)





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

PAVY INVESTMENTS LIMITED (REGISTERED NUMBER: 10634994)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,231,609 663,294

CURRENT ASSETS
Debtors 5 909 1,002
Cash at bank and in hand 24,405 64,376
25,314 65,378
CREDITORS
Amounts falling due within one year 6 1,231,364 715,269
NET CURRENT LIABILITIES (1,206,050 ) (649,891 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,559

13,403

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 25,459 13,303
SHAREHOLDERS' FUNDS 25,559 13,403

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 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.

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:





Mr S Makris - Director


PAVY INVESTMENTS LIMITED (REGISTERED NUMBER: 10634994)

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

1. STATUTORY INFORMATION

Pavy Investments 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. 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.

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

INVESTMENT PROPERTY
Investment property is 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 The Financial Reporting Standard 102 (Section 1A) for small entities. The directors consider 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 The Financial Reporting Standard 102 (Section 1A) for Smaller Entities 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 reduced by the amount of depreciation.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

PAVY INVESTMENTS LIMITED (REGISTERED NUMBER: 10634994)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 663,294
Additions 568,315
At 28 February 2023 1,231,609
NET BOOK VALUE
At 28 February 2023 1,231,609
At 28 February 2022 663,294

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 500 -
Prepayments 409 1,002
909 1,002

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Shareholder's loan 1,226,148 400,000
Trade creditors - 199
Tax 2,851 2,639
Directors' current accounts - 310,798
Accrued expenses 2,365 1,633
1,231,364 715,269

7. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £415,000 (2022: £200,000) owed to Mr M Gabrielides, a shareholder of the company.

Included in creditors, amounts falling due within one year, is an interest free amount of £415,350 (2022: £200,000 owed to Ms E Gabrielides, a shareholder of the company.

Included in creditors, amounts falling due within one year, is an interest free amount of £395,798 (2022: £310,798) owed to Ms P Constantinides, a shareholder of the company.