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REGISTERED NUMBER: 02262510 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 MAY 2024

FOR

COUNTERCLAIM LIMITED

COUNTERCLAIM LIMITED (REGISTERED NUMBER: 02262510)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COUNTERCLAIM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 25 MAY 2024







DIRECTOR: Mr C Christoforou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 02262510 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

COUNTERCLAIM LIMITED (REGISTERED NUMBER: 02262510)

BALANCE SHEET
25 MAY 2024

25.5.24 25.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 6,703,286 6,703,286

CURRENT ASSETS
Debtors 5 6,385,188 6,379,548
Cash at bank 15,294 2,039
6,400,482 6,381,587
CREDITORS
Amounts falling due within one year 6 6,980,318 6,942,356
NET CURRENT LIABILITIES (579,836 ) (560,769 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,123,450

6,142,517

CREDITORS
Amounts falling due after more than one
year

7

(2,789,447

)

(2,800,000

)

PROVISIONS FOR LIABILITIES 9 (287,141 ) (287,141 )
NET ASSETS 3,046,862 3,055,376

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 2,084,331 2,084,331
Retained earnings 962,431 970,945
SHAREHOLDERS' FUNDS 3,046,862 3,055,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 May 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.

COUNTERCLAIM LIMITED (REGISTERED NUMBER: 02262510)

BALANCE SHEET - continued
25 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 director and authorised for issue on 6 January 2025 and were signed by:





Mr C Christoforou - Director


COUNTERCLAIM LIMITED (REGISTERED NUMBER: 02262510)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MAY 2024


1. STATUTORY INFORMATION

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

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 ) .

COUNTERCLAIM LIMITED (REGISTERED NUMBER: 02262510)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 MAY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 26 May 2023
and 25 May 2024 6,703,286
NET BOOK VALUE
At 25 May 2024 6,703,286
At 25 May 2023 6,703,286

Fair value at 25 May 2024 is represented by:
£   
Valuation in 2009 1,041,502
Valuation in 2015 1,330,000
Cost 4,331,784
6,703,286

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
25.5.24 25.5.23
£    £   
Trade debtors 170,188 164,548
Amount due from related
company 6,215,000 6,215,000
6,385,188 6,379,548

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
25.5.24 25.5.23
£    £   
Trade creditors 65,602 65,256
VAT 3,218 8,647
Director's loan 6,903,798 6,864,253
Accrued expenses 7,700 4,200
6,980,318 6,942,356

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
25.5.24 25.5.23
£    £   
Other loans (see note 8) 2,789,447 2,800,000

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 2,789,447 2,800,000

COUNTERCLAIM LIMITED (REGISTERED NUMBER: 02262510)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 MAY 2024


8. LOANS

An analysis of the maturity of loans is given below:

25.5.24 25.5.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 2,789,447 2,800,000

The bank loan is secured on the company's properties.

9. PROVISIONS FOR LIABILITIES
25.5.24 25.5.23
£    £   
Deferred tax 287,141 287,141

Deferred
tax
£   
Balance at 26 May 2023 287,141
Balance at 25 May 2024 287,141

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 25.5.24 25.5.23
value: £    £   
100 Ordinary shares £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 26 May 2023
and 25 May 2024 2,084,331