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REGISTERED NUMBER: 14204399 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

IOANNIDES PROPERTIES LTD

IOANNIDES PROPERTIES LTD (REGISTERED NUMBER: 14204399)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


IOANNIDES PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr Andreas Ioannou
Mrs Soteroulla Ioannou





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 14204399 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

IOANNIDES PROPERTIES LTD (REGISTERED NUMBER: 14204399)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 7,782,443 -

CURRENT ASSETS
Debtors 22,621 -
Cash at bank and in hand 31,872 10
54,493 10
CREDITORS
Amounts falling due within one year 63,992 -
NET CURRENT (LIABILITIES)/ASSETS (9,499 ) 10
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,772,944

10

CREDITORS
Amounts falling due after more than one year 1,242,000 -
NET ASSETS 6,530,944 10

CAPITAL AND RESERVES
Called up share capital 7 1,000 10
Share premium 8 6,507,010 -
Retained earnings 8 22,934 -
SHAREHOLDERS' FUNDS 6,530,944 10

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 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.

IOANNIDES PROPERTIES LTD (REGISTERED NUMBER: 14204399)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 January 2025 and were signed on its behalf by:





Mr Andreas Ioannou - Director


IOANNIDES PROPERTIES LTD (REGISTERED NUMBER: 14204399)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ioannides Properties Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rental income from investment properties owned by company.

Investment property
Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. At the end of each period, the carrying value is adjusted to the fair value at that date. Fair value is determined by consideration of comparable market data such as rental yields, location, condition and nature of the property. The gains and losses are taken to profit and loss at the end of each period.
Deferred tax is recognised in respect of any gains, and the amount included in reserves is net of any deferred tax provision

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.

IOANNIDES PROPERTIES LTD (REGISTERED NUMBER: 14204399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 7,782,443
At 31 March 2024 7,782,443
NET BOOK VALUE
At 31 March 2024 7,782,443

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,242,000 -

The bank loans are secured by first legal charges over the properties of the company and a guarantee from the directors in favour of Arbuthnot Latham.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 10

On 13 October 2023, the company issued 990 ordinary shares of £1 each in exchange for the assets and liabilities of a property investment business that was acquired as a going concern.

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

Profit for the year 22,934 22,934
Non-cash consideration - 6,507,010 6,507,010
At 31 March 2024 22,934 6,507,010 6,529,944

IOANNIDES PROPERTIES LTD (REGISTERED NUMBER: 14204399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. RELATED PARTY DISCLOSURES

On 13 October 2023, the company acquired the assets and liabilities of a property investment business as a going concern. The transferors were persons who are shareholders in the company.

10. ULTIMATE CONTROLLING PARTY

The controlling parties are Mr Andreas Ioannou & Mrs Soteroulla Ioannou by virtue of them holding 100% of voting share capital of the company.