Registered number
11320594
LIONDARIS PROPERTIES LIMITED
Unaudited Financial Statements for the year ended
30 April 2024
LIONDARIS PROPERTIES LIMITED
Registered number: 11320594
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 35,617 47,490
Investment Properties 4 838,488 838,488
874,105 885,978
Current assets
Debtors 5 163,858 -
Cash at bank and in hand 74,777 105,891
238,635 105,891
Creditors: amounts falling due within one year 6 (155,495) (99,867)
Net current assets 83,140 6,024
Total assets less current liabilities 957,245 892,002
Creditors: amounts falling due after more than one year 7 (601,620) (588,715)
Net assets 355,625 303,287
Capital and reserves
Called up share capital 100 100
Profit and loss account 355,525 303,187
Shareholder's funds 355,625 303,287
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
The financial statements were approved and authorised for issue by the board on 15 January 2025 and were signed on its behalf by:
J Liondaris
Director
LIONDARIS PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2024
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 represents amounts recognised by the company in respect of rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Investment properties
Investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for the objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right of set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Taxation
The tax expense for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2023 63,320
At 30 April 2024 63,320
Depreciation
At 1 May 2023 15,830
Charge for the year 11,873
At 30 April 2024 27,703
Net book value
At 30 April 2024 35,617
At 30 April 2023 47,490
4 Investment properties
Investment
Properties
£
Fair Value
At 1 May 2023 838,488
At 30 April 2024 838,488
5 Debtors 2024 2023
£ £
Trade debtors 7,500 -
Other debtors 156,358 -
163,858 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 24,840 14,372
Other creditors 130,655 85,495
155,495 99,867
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 601,620 588,715
The bank loan is secured by a fixed and floating charge over a selection of the investment properties of the company.
8 Controlling party
The ultimate controlling party is the sole director and shareholder, J R Liondaris.
9 Other information
LIONDARIS PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
446a Green Lanes
Palmers Green
London
N13 5XD
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