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REGISTERED NUMBER: 09636381 (England and Wales)












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: Mr C Stylianou





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





REGISTERED NUMBER: 09636381 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
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 4 929,761 929,761
Investment property 5 185,400 185,400
1,115,161 1,115,161

CURRENT ASSETS
Debtors 6 170,940 164,752
Cash at bank and in hand 6,034 6,228
176,974 170,980
CREDITORS
Amounts falling due within one year 7 23,680 19,000
NET CURRENT ASSETS 153,294 151,980
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,268,455

1,267,141

CREDITORS
Amounts falling due after more than one
year

8

1,395,916

1,342,413
NET LIABILITIES (127,461 ) (75,272 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (127,561 ) (75,372 )
SHAREHOLDERS' FUNDS (127,461 ) (75,272 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ASTAPOR HOLDINGS LIMITED (REGISTERED NUMBER: 09636381)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 3 December 2024 and were signed by:





Mr C Stylianou - Director


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 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.

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 1 (2023 - 1 ) .

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 929,761
NET BOOK VALUE
At 31 March 2024 929,761
At 31 March 2023 929,761

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Salema Estates Ltd
Registered office: 10 Hadjigeorgaki Cornesiou, Cy-1015 Nicosia, Cyprus
Nature of business: Holding of immovable properties
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 791,338 798,222
Profit for the year 7,986 701

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 185,400
NET BOOK VALUE
At 31 March 2024 185,400
At 31 March 2023 185,400

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 170,940 164,752

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 4,680 19,000
23,680 19,000

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 1,395,916 1,342,413

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: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 (75,372 )
Deficit for the year (52,189 )
At 31 March 2024 (127,561 )

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