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REGISTERED NUMBER: 04081846 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

DEMOSTHENOUS INVESTMENTS LIMITED

DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846)






Contents of the Financial Statements
for the year ended 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DEMOSTHENOUS INVESTMENTS LIMITED

Company Information
for the year ended 31 OCTOBER 2023







DIRECTORS: Mrs E. Demosthenous
Mrs B. Kiteow





SECRETARY: Mrs M. Michael





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





REGISTERED NUMBER: 04081846 (England and Wales)





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

DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846)

Statement of Financial Position
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,550,000 1,475,000

CURRENT ASSETS
Debtors 6 17,512 18,291
Cash at bank 5,749 -
23,261 18,291
CREDITORS
Amounts falling due within one year 7 36,216 36,856
NET CURRENT LIABILITIES (12,955 ) (18,565 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,537,045

1,456,435

PROVISIONS FOR LIABILITIES 8 137,130 91,954
NET ASSETS 1,399,915 1,364,481

CAPITAL AND RESERVES
Called up share capital 700,000 700,000
Other reserves 411,389 381,565
Retained earnings 288,526 282,916
SHAREHOLDERS' FUNDS 1,399,915 1,364,481

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

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

DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846)

Statement of Financial Position - continued
31 OCTOBER 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 12 March 2024 and were signed on its behalf by:





Mrs B. Kiteow - Director


DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846)

Notes to the Financial Statements
for the year ended 31 OCTOBER 2023

1. STATUTORY INFORMATION

Demosthenous 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. 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.

Turnover
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date.

Investment property
Investment properties are revalued annually at their open market value in accordance with FRS 102 Section 1A. The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account.

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.

Taxation
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 2 (2022 - 1 ) .

DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846)

Notes to the Financial Statements - continued
for the year ended 31 OCTOBER 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,475,000
Revaluations 75,000
At 31 October 2023 1,550,000
NET BOOK VALUE
At 31 October 2023 1,550,000
At 31 October 2022 1,475,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2014 198,518
Valuation in 2020 275,000
Valuation in 2023 75,000
Cost 1,001,482
1,550,000

The fair value of the property at October 2023 has been arrived at on the basis of a valuation carried out at the date by B Kiteow, a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the rental in the area where the properties are situated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 17,512 18,291

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts - 12
Accrued Income 8,185 12,056
Tax 16,939 3,439
Other creditors 10,000 20,000
Directors' current accounts 252 269
Accrued expenses 840 1,080
36,216 36,856

8. PROVISIONS FOR LIABILITIES
31/10/23 31/10/22
£    £   
Deferred tax
Accelerated capital allowances 137,130 91,954

DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846)

Notes to the Financial Statements - continued
for the year ended 31 OCTOBER 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 91,954
Provided during year 45,176
Balance at 31 October 2023 137,130