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REGISTERED NUMBER: 10100550 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMTRACK (UK) PROPERTIES LIMITED

COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMTRACK (UK) PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Dr G O Simonian





REGISTERED OFFICE: Suite B,
30 Barnes High Street
London
SW13 9LW





REGISTERED NUMBER: 10100550 (England and Wales)





ACCOUNTANTS: Hovnan & Co Ltd
Chartered Accountants
106 Ashurst Road
Cockfosters
London
EN4 9LG

COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,549 4,019
Investment property 5 1,600,000 1,600,000
1,605,549 1,604,019

CURRENT ASSETS
Debtors 6 154,308 158,206
Cash at bank 5,866 1,554
160,174 159,760
CREDITORS
Amounts falling due within one year 7 4,492 1,534,862
NET CURRENT ASSETS/(LIABILITIES) 155,682 (1,375,102 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,761,231

228,917

PROVISIONS FOR LIABILITIES 22,577 22,287
NET ASSETS 1,738,654 206,630

CAPITAL AND RESERVES
Called up share capital 8 1,528,270 100
Fair value reserve 9 91,758 91,758
Retained earnings 118,626 114,772
SHAREHOLDERS' FUNDS 1,738,654 206,630

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

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

COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 16 July 2024 and were signed by:





Dr G O Simonian - Director


COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)

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

1. STATUTORY INFORMATION

Comtrack (UK) Properties 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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.

Investment property is not depreciated.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 12,079
Additions 2,917
At 31 December 2023 14,996
DEPRECIATION
At 1 January 2023 8,060
Charge for year 1,387
At 31 December 2023 9,447
NET BOOK VALUE
At 31 December 2023 5,549
At 31 December 2022 4,019

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,600,000
NET BOOK VALUE
At 31 December 2023 1,600,000
At 31 December 2022 1,600,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2020 113,281
Cost 1,486,719
1,600,000

COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)

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

5. INVESTMENT PROPERTY - continued

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

31.12.23 31.12.22
£    £   
Cost 1,486,719 1,486,719

Investment property was valued on an open market basis on 31 December 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 37,754 56,040
Amounts owed by group undertakings 104,732 101,547
Other debtors 11,822 619
154,308 158,206

Included in debtors are balances due from fellow group undertakings of £89,277 (31/12/2022: £94,792) due from Comtrack (UK) Ltd and £15,455 (31/12/2022: £6,755) due from Lost Tribe Productions Films Ltd. These balances are repayable on demand and non-interest bearing.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,692 251
Amounts owed to group undertakings - 1,528,170
Taxation and social security - 441
Other creditors 2,800 6,000
4,492 1,534,862

Included in creditors is a loan advanced by the parent company Comtrack Ventures Ltd of £nil (31/12/2022: £1,528,170). This loan is repayable on demand and is non-interest bearing.

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,528,270 Share capital 1 1 1,528,270 100

The inter company loan from the parent company Comtrack Ventures Ltd of £1,528,170 was converted to equity during the year at par.

COMTRACK (UK) PROPERTIES LIMITED (REGISTERED NUMBER: 10100550)

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

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 91,758

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Dr G O Simonian
Balance outstanding at start of year - -
Amounts advanced 5,436 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,436 -

Director balances are non-interest bearing and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr G O Simonian.

Dr G O Simonian is director and sole shareholder of the parent company Comtrack Ventures Ltd incorporated in
Cyprus. The consolidated financial statements of Comtrack Ventures Ltd for the year ended 31 December 2023 can
be obtained from 9 Tasou Mitsopoulou, Castella Court 2, Office 211, 6028 Larnaca Cyprus.