REGISTERED NUMBER: |
ASTAPOR HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
ASTAPOR HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ASTAPOR HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Sterling House |
Fulbourne Road |
Walthamstow |
London |
E17 4EE |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the director and authorised for issue on |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Astapor Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 10 Hadjigeorgaki Cornesiou, Cy-1015 Nicosia, Cyprus |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Acquisition of Residential Property from UBO; |
The Company acquired residential property located in Raab, Austria from UBO on 8th September 2015 for Euro 231,029., As part of purchase agreement, the company agreed a restrictive covenant over the property which allowed the UBO agent to grant long term residential tenancy in the property with no rental payable to the company. UBO as a tenant, although required to maintain the property in good condition and to pay all property taxes and other costs. |
The company is satisfied that the value of investment property is not less than the fair value of the property. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Directors' current accounts | 19,000 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Loans more 5 yr by instal | 1,395,916 | 1,342,413 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Loans more 5 yr by instal | 1,395,916 | 1,342,413 |
ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | LOANS - continued |
Long Term Loans Payable; |
During the year under review, Elpis Management Limited (Elpis) was liquidated and any payable balance as at 01 April 2023 was transfer to Manosa International Trust under the Transfer of Rights and Obligations agreement dated 01 April 2022. |
Previously, the company entered into an unsecured loan agreement with Elpis Management Limited, under the term of which the company borrowed EUR 1,250,000 to fund an investment of the same value in a subsidiary company on 26th June 2016. The loan is repayable after 10 years and carried interest at a rate 1% above the Euribor interest rate ruling on 1st April of each year. The interest is rolled up into the capital value payable. |
Interest rate payable for the period from 1st April 2023 to 31 March 2024 based on the Euribor 12 month interest rate is 4.664% (2023- 4.651%). |
Manosa International Trust continues its commitments with the same term and conditions with UBO as previously agreed with Elpis Management Limited. |
Long Term Loans Receivable; |
Simultaneously, the company entered into an unsecured loan agreement with UBO, under the term of which the company loaned EUR 150,000 on 26th June 2016. The loan is repayable after 10 years and carried interest at a rate 1% above the Euribor interest rate ruling on 1st April of each year. The interest is rolled up into the capital value payable. |
Interest rate payable for the period from 1st April 2023 to 31 March 2024 based on the Euribor 12 month interest rate is 4.664% (2023- 4.651%). |
The value of loans payable and receivable (including capitalized interest) translated into sterling as at the balance sheet date and are included long term creditors and debtors respectively. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31 March 2024 | ( |
) |
12. | ULTIMATE CONTROLLING PARTY |
The company is under the control of Mr. Alexandros G Ioannides in his capacity as a trustee of the Manosa International trust having correspondence address at Alexandros G Ioannides & Associates, 10 Hadjigeorgaki Cornesiou, Cy-1015 Nicosia, Cyprus |