Registered number
11239196
BARRAT UK ESTATES LIMITED
Unaudited Financial Statements for the year ended
31 December 2023
BARRAT UK ESTATES LIMITED
Report and accounts
Contents
Page
Balance sheet 1
Notes to the accounts 2 - 4
BARRAT UK ESTATES LIMITED
Registered number: 11239196
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investment properties 3 495,000 495,000
Investments 4 1,000 1,000
496,000 496,000
Current assets
Debtors 5 171,471 128,344
Cash at bank and in hand 1,000 1,000
172,471 129,344
Creditors: amounts falling due within one year 6 (161,415) (147,627)
Net current assets/(liabilities) 11,056 (18,283)
Net assets 507,056 477,717
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 505,056 475,717
Shareholders' funds 507,056 477,717
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements were approved and authorised for issue by the board on 24 February 2025 and were signed on its behalf by:
N Mitsiou
Director
BARRAT UK ESTATES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance wish FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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.
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.
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investment properties 2023 2022
£ £
Fair Value
At 1 January 2023 495,000 495,000
At 31 December 2023 495,000 495,000
The investment properties were transferred from Barrat Property Limited following a share for share exchange in 2019.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 1,000
At 31 December 2023 1,000
5 Debtors 2023 2022
£ £
Amounts owed by connected companies 171,471 128,344
6 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings 4,939 4,939
Corporation tax 20,108 12,379
Other creditors 136,368 130,309
161,415 147,627
7 Related party transactions
The company issued shares in consideration for a share for share exchange with Barrat Property Limited, a company registered in Cyprus. Barrat Property Limited is now a wholly owned subsidiary and the assets were transferred to Barrat UK Estates Limited.

The amount due to Barrat Property Limited was £4,939 (2022: £4,939). This represents working capital through the transfer of the investment property and dividends.

The amount from L C Mitsiou Estates Limited, a company in which L C Mitsiou is connected, was £171,471 (2022: £128,344). This represents working capital movements through the collection of rents and payment of expenses. During the year, the company was charged management fees of £6,059 (2022: £5,891).
8 Controlling party
The ultimate controlling party is N Mitsiou.
9 Other information
BARRAT UK ESTATES LIMITED is a private company limited by shares and incorporated in England whose registered office is 1st Floor, 446a Green Lanes, London N13 5XD.
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