Registered number
11660607
P.M.L Georgiou Limited
Filleted Accounts
30 November 2023
P.M.L Georgiou Limited
Registered number: 11660607
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,039,796 1,039,796
Current assets
Cash at bank and in hand 49,390 54,525
Creditors: amounts falling due within one year 4 (395,079) (418,932)
Net current liabilities (345,689) (364,407)
Total assets less current liabilities 694,107 675,389
Creditors: amounts falling due after more than one year 5 (661,050) (661,050)
Net assets 33,057 14,339
Capital and reserves
Called up share capital 4 4
Profit and loss account 33,053 14,335
Shareholders' funds 33,057 14,339
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Georgiou
Director
Approved by the board on 28 August 2024
P.M.L Georgiou Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment properties are stated at their open market valuations which according to the directors reflect the fair value at the reporting date.

No depreciation is provided in respect of freehold properties which are classified as investment properties. This is a departure from the requirements Companies Act 2006 which requires all property to be depreciated. Such properties are held to earn rentals or for capital appreciation and the directors consider that to depreciate them would not give a true and fair view.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment property
£
Cost/fair value
At 1 December 2022 1,039,796
At 30 November 2023 1,039,796
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 1,039,796
At 30 November 2022 1,039,796
The directors have not revalued the properties during the period. They believe the cost price is similar to the current fair value and have therefore not been revalued.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,391 359
Directors loan 389,988 417,873
Other creditors 700 700
395,079 418,932
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 661,050 661,050
6 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 661,050 661,050
Secured bank loans 661,050 661,050
Bank loans totalling £661,050 are secured on all the company's investment properties by way of fixed and floating charges over all assets.
7 Transactions with directors
As at 30 November 2022 the directors had loaned the company £389,988 (2022 - £417,873) and this is included in creditors.

No interest is charged on this loan and there is no set repayment date, although the directors do not intend to seek repayment of the loan until the company has sufficient cash flow to do so.
8 Controlling party
There is no ultimate controlling party. The 2 directors each hold 50% of the share capital of the company.
9 Other information
P.M.L Georgiou Limited is a private company limited by shares and incorporated in England. Its registered office is:
28 Gaynes Hill Road
Woodford Green
IG8 8HX
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