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REGISTERED NUMBER: 05598949 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

MINOAN INVESTMENTS LIMITED

MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MINOAN INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 June 2024







DIRECTOR: E Kontis





SECRETARY: E Kontis





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 05598949 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,470 6,306
Investment property 5 1,460,000 1,460,000
1,466,470 1,466,306

CURRENT ASSETS
Debtors 6 18,327 7,899
Cash at bank 47,935 47,912
66,262 55,811
CREDITORS
Amounts falling due within one year 7 131,332 137,877
NET CURRENT LIABILITIES (65,070 ) (82,066 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401,400

1,384,240

CREDITORS
Amounts falling due after more than one year 8 (822,545 ) (822,545 )

PROVISIONS FOR LIABILITIES (45,308 ) (45,308 )
NET ASSETS 533,547 516,387

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 10 491,936 491,936
Retained earnings 40,611 23,451
SHAREHOLDERS' FUNDS 533,547 516,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)

BALANCE SHEET - continued
30 June 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 5 February 2025 and were signed by:





E Kontis - Director


MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 June 2024

1. STATUTORY INFORMATION

MINOAN INVESTMENTS 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% 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. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable proftits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Investment property obtained under finance leases are capitalised as investment property. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023 33,347
Additions 2,321
At 30 June 2024 35,668
DEPRECIATION
At 1 July 2023 27,041
Charge for year 2,157
At 30 June 2024 29,198
NET BOOK VALUE
At 30 June 2024 6,470
At 30 June 2023 6,306

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,460,000
NET BOOK VALUE
At 30 June 2024 1,460,000
At 30 June 2023 1,460,000

MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 June 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 537,243
Cost 922,757
1,460,000

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

30.6.24 30.6.23
£    £   
Cost 922,757 922,757

Investment property was valued on an open market basis on 30 June 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,200 800
Other debtors 17,127 7,099
18,327 7,899

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 5,733 10,132
Other creditors 125,599 127,745
131,332 137,877

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 822,545 822,545

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 822,545 822,545

MINOAN INVESTMENTS LIMITED (REGISTERED NUMBER: 05598949)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 822,545 822,545

The bank loans are secured by way of a legal charge over the company's investment property.

10. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 491,936