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REGISTERED NUMBER: 03314450 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

CHRISAND PROPERTIES LIMITED

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHRISAND PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr A C Stylianou ACA, FCCA
Mrs M Stylianou





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 03314450 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investments 5 600,000 600,000
Investment property 6 700,000 700,000
1,300,000 1,300,000

CURRENT ASSETS
Debtors 7 2,350 1,350
Cash at bank 5,383 2,805
7,733 4,155
CREDITORS
Amounts falling due within one year 8 849,868 868,288
NET CURRENT LIABILITIES (842,135 ) (864,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,865

435,867

CREDITORS
Amounts falling due after more than one
year

9

182,076

161,305
NET ASSETS 275,789 274,562

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 265,069 265,069
Retained earnings 10,620 9,393
SHAREHOLDERS' FUNDS 275,789 274,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 6 November 2024 and were signed on its behalf by:





Mr A C Stylianou ACA, FCCA - Director


CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Chrisand 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.

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 gross rents receivable and it is recognised when the rent becomes due.

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 - 15% 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.

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.

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Investment properties
The investment properties are stated at open market valuations made annually in accordance with FRS102. Surpluses or deficits arising on the revaluation are dealt with in the revaluation reserve account except that in the event of a permanent diminution in value of an investment property below its original cost the deficit is written off in the profit and loss account.

No depreciation is provided in respect of freehold investment properties. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Unlisted investments
Unlisted investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 3,407
DEPRECIATION
At 1 March 2023
and 29 February 2024 3,407
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 600,000
NET BOOK VALUE
At 29 February 2024 600,000
At 28 February 2023 600,000

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 29 February 2024 is represented by:

Other
investments
£   
Valuation in 2022 389,760
Cost 210,240
600,000

If the unlisted investments had not been revalued they would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 210,240 210,240

The unlisted investments were valued on an open market basis on 31 March 2024 by the directors .

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 700,000
NET BOOK VALUE
At 29 February 2024 700,000
At 28 February 2023 700,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 581,521
Cost 118,479
700,000

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

29.2.24 28.2.23
£    £   
Cost 118,479 118,479

The Investment property was valued on an open market basis on 28 February 2024 by by the directors. .

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 1,000 -
Rent deposit to agent 1,350 1,350
2,350 1,350

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 18,751 9,846
Amounts owed to group undertakings 724,000 478,000
Loans 200 14,200
Tenants deposit due 1,350 1,350
Directors' current accounts 105,567 363,917
Accruals and deferred income - 975
849,868 868,288

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 18,751 9,846
Bank loans - 2-5 years 56,253 31,238
Bank loans more 5 yr by instal 107,072 120,221
182,076 161,305

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 107,072 120,221

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 200,827 171,151

11. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 265,069

CHRISAND PROPERTIES LIMITED (REGISTERED NUMBER: 03314450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


12. ULTIMATE CONTROLLING PARTY

Sty Group Limited has ultimate control of the company by virtue of its holding of 100% of
the "A" Ordinary share share capital.