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REGISTERED NUMBER: 02638854 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

ANGELANA INVESTMENTS LIMITED

ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ANGELANA INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 August 2023







DIRECTORS: M Economides
Mrs A Economides
G Economides
M A Economides





SECRETARY: Mrs A Economides





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 02638854 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)

BALANCE SHEET
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,981 72,207
Investments 5 150 150
Investment property 6 38,699,465 37,512,370
38,769,596 37,584,727

CURRENT ASSETS
Debtors 7 4,172,663 4,075,018
Cash at bank and in hand 430,762 658,225
4,603,425 4,733,243
CREDITORS
Amounts falling due within one year 8 328,756 396,653
NET CURRENT ASSETS 4,274,669 4,336,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,044,265

41,921,317

CREDITORS
Amounts falling due after more than one
year

9

(15,620,347

)

(14,680,916

)

PROVISIONS FOR LIABILITIES (3,468,962 ) (3,465,155 )
NET ASSETS 23,954,956 23,775,246

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 11 17,132,713 17,132,713
Retained earnings 6,821,243 6,641,533
SHAREHOLDERS' FUNDS 23,954,956 23,775,246

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)

BALANCE SHEET - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





M Economides - Director


ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2023

1. STATUTORY INFORMATION

ANGELANA 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.

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 net invoiced sales of trading property and rent receivable, excluding value added tax.

Profit on sale of investment property is included within other operating income.

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

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable proftits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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.

ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022 355,350 29,704 385,054
Additions 21,101 - 21,101
At 31 August 2023 376,451 29,704 406,155
DEPRECIATION
At 1 September 2022 287,321 25,526 312,847
Charge for year 22,282 1,045 23,327
At 31 August 2023 309,603 26,571 336,174
NET BOOK VALUE
At 31 August 2023 66,848 3,133 69,981
At 31 August 2022 68,029 4,178 72,207

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 100 50 150
NET BOOK VALUE
At 31 August 2023 100 50 150
At 31 August 2022 100 50 150

ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 37,512,370
Additions 1,187,095
At 31 August 2023 38,699,465
NET BOOK VALUE
At 31 August 2023 38,699,465
At 31 August 2022 37,512,370

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2003 2,680,577
Valuation in 2004 128,214
Valuation in 2005 891,031
Valuation in 2007 3,680,143
Valuation in 2010 (605,032 )
Valuation in 2013 85,636
Valuation in 2014 5,311,870
Valuation in 2017 6,579,962
Valuation in 2018 695,000
Valuation in 2020 1,139,104
Cost 18,112,960
38,699,465

If investment property had not been revalued it would have been included at the following historical cost:

31.8.23 31.8.22
£    £   
Cost 18,112,960 16,925,865

Investment property was valued on an open market basis at the balance sheet date by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 23,653 15,854
Other debtors 4,149,010 4,059,164
4,172,663 4,075,018

ANGELANA INVESTMENTS LIMITED (REGISTERED NUMBER: 02638854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 22,705 97,527
Trade creditors 7,023 11,429
Taxation and social security 34,031 31,271
Other creditors 264,997 256,426
328,756 396,653

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 14,500,827 14,500,224
Other creditors 1,119,520 180,692
15,620,347 14,680,916

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 13,100,349

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank overdraft - 70,773
Bank loans 14,523,532 14,526,978
14,523,532 14,597,751

The bank overdrafts and bank loans are secured by way of a legal charge over the company's investment property and a debenture over the company's assets.

11. RESERVES
Fair
value
reserve
£   
At 1 September 2022
and 31 August 2023 17,132,713

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors M Economides and Mrs A Economides.