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REGISTERED NUMBER: 03768163 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Loizou Enterprises Limited

Loizou Enterprises Limited (Registered number: 03768163)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Loizou Enterprises Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs M Loizou
Mr K Loizou





SECRETARY: Mr K Loizou





REGISTERED OFFICE: 1146 High Road
London
N20 0RA





REGISTERED NUMBER: 03768163 (England and Wales)





ACCOUNTANTS: Cymans
Chartered Certified Accountants
1146 High Road
Whetstone
London
N20 0RA

Loizou Enterprises Limited (Registered number: 03768163)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 184 230
Investment property 5 4,650,000 2,081,634
4,650,184 2,081,864

CURRENT ASSETS
Cash at bank and in hand 22,859 25,595

CREDITORS
Amounts falling due within one year 6 600,975 600,532
NET CURRENT LIABILITIES (578,116 ) (574,937 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,072,068

1,506,927

CREDITORS
Amounts falling due after more than one
year

7

(313,874

)

(366,667

)

PROVISIONS FOR LIABILITIES (763,754 ) (121,662 )
NET ASSETS 2,994,440 1,018,598

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 2,994,340 1,018,498
SHAREHOLDERS' FUNDS 2,994,440 1,018,598

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

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

Loizou Enterprises Limited (Registered number: 03768163)

Statement of Financial Position - continued
31 May 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 16 November 2024 and were signed on its behalf by:





Mrs M Loizou - Director


Loizou Enterprises Limited (Registered number: 03768163)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Loizou Enterprises 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Turnover
Turnover represents rent receivable on an accrual basis.

3. EMPLOYEES AND DIRECTORS

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

Loizou Enterprises Limited (Registered number: 03768163)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 3,574
DEPRECIATION
At 1 June 2023 3,344
Charge for year 46
At 31 May 2024 3,390
NET BOOK VALUE
At 31 May 2024 184
At 31 May 2023 230

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,081,634
Additions 18,000
Revaluations 2,550,366
At 31 May 2024 4,650,000
NET BOOK VALUE
At 31 May 2024 4,650,000
At 31 May 2023 2,081,634

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 18,000
Valuation in 2024 2,550,367
Valuation in 2023 955,202
Cost 1,126,431
4,650,000

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

31.5.24 31.5.23
£    £   
Cost 1,126,431 1,126,431

Investment property was valued on an open market basis on 31 May 2017 by the director .

Loizou Enterprises Limited (Registered number: 03768163)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 27,424 27,424
Taxation and social security 19,204 11,171
Other creditors 554,347 561,937
600,975 600,532

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 313,874 366,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 313,874 366,667

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 313,874 366,667

The bank holds the first legal charge over the freehold and leasehold property investments.

9. RESERVES
Retained
earnings
£   

At 1 June 2023 1,018,498
Profit for the year 1,975,842
At 31 May 2024 2,994,340

Retained earnings comprises of the following:

Distributable reserves £(42,674) (£531,850 in 2023)

Non distributable reserves £3,037,014 (£486,648 in 2023)