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REGISTERED NUMBER: 03552102 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

ALLIED CITY ESTATES LIMITED

ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

ALLIED CITY ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr G Georgallis
Mr C Christoforou





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





REGISTERED NUMBER: 03552102 (England and Wales)





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

ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 3,600,000 4,000,000
3,600,000 4,000,000

CURRENT ASSETS
Debtors 6 2,943,124 2,959,065
Cash at bank 10,626 100,291
2,953,750 3,059,356
CREDITORS
Amounts falling due within one year 7 3,905,894 4,363,095
NET CURRENT LIABILITIES (952,144 ) (1,303,739 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,647,856

2,696,261

PROVISIONS FOR LIABILITIES 9 471,291 540,072
NET ASSETS 2,176,565 2,156,189

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 2,176,465 2,156,089
SHAREHOLDERS' FUNDS 2,176,565 2,156,189

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

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

ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

BALANCE SHEET - continued
30 SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:




Mr C Christoforou - Director



Mr G Georgallis - Director


ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

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


1. STATUTORY INFORMATION

Allied City Estates 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 amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts 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.
Fixtures and fittings - 25% straight line

Investment properties
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 Statement of Income and Retained Earnings, 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 2 (2023 - 2 ) .

ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 11,905
DEPRECIATION
At 1 October 2023
and 30 September 2024 11,905
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 4,000,000
Disposals (400,000 )
At 30 September 2024 3,600,000
NET BOOK VALUE
At 30 September 2024 3,600,000
At 30 September 2023 4,000,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2007 700,585
Valuation in 2010 115,720
Valuation in 2011 2,226,810
Valuation in 2012 782,814
Valuation in 2021 2,958,710
Valuation in 2021 (499,845 )
Valuation in 2023 (3,637,783 )
Valuation in 2024 (335,970 )
Cost 1,288,959
3,600,000

ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 43,124 59,065
Directors' loan accounts 2,900,000 2,900,000
2,943,124 2,959,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Tenants deposits and rent in advance 8,200 8,201
Tax 79,508 635,748
Amounts due to shareholders 3,800,000 3,700,000
Directors' current accounts 13,146 13,146
Accrued expenses 5,040 6,000
3,905,894 4,363,095

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 471,291 540,072

Deferred
tax
£   
Balance at 1 October 2023 540,072
Provided during year (68,781 )
Balance at 30 September 2024 471,291

Deferred tax has been calculated at 25%.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

ALLIED CITY ESTATES LIMITED (REGISTERED NUMBER: 03552102)

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


11. RESERVES
Retained
earnings
£   

At 1 October 2023 2,156,089
Profit for the year 20,376
At 30 September 2024 2,176,465

30.09.24
£

Distributable reserves336,715
Non-distributable reserves1,839,750
At 30 September 20242,176,465

ALLIED CITY ESTATES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
ALLIED CITY ESTATES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






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


1 April 2025