PTP Accounts Production v24.3.2.46 00879018 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false Ordinary 0.25000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh008790182023-12-31008790182024-12-31008790182024-01-012024-12-31008790182022-12-31008790182023-01-012023-12-31008790182023-12-3100879018ns15:EnglandWales2024-01-012024-12-3100879018ns14:PoundSterling2024-01-012024-12-3100879018ns10:Director12024-01-012024-12-3100879018ns10:Director22024-01-012024-12-3100879018ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3100879018ns10:SmallEntities2024-01-012024-12-3100879018ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3100879018ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3100879018ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3100879018ns10:FullAccounts2024-01-012024-12-3100879018ns10:OrdinaryShareClass12024-01-012024-12-3100879018ns10:CompanySecretary12024-01-012024-12-3100879018ns10:CompanySecretary22024-01-012024-12-3100879018ns10:RegisteredOffice2024-01-012024-12-3100879018ns5:CurrentFinancialInstruments2024-12-3100879018ns5:CurrentFinancialInstruments2023-12-3100879018ns5:ShareCapital2024-12-3100879018ns5:ShareCapital2023-12-3100879018ns5:FurtherSpecificReserve1ComponentTotalEquity2024-12-3100879018ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3100879018ns5:RetainedEarningsAccumulatedLosses2024-12-3100879018ns5:RetainedEarningsAccumulatedLosses2023-12-3100879018ns5:ShareCapital2022-12-3100879018ns5:RetainedEarningsAccumulatedLosses2022-12-3100879018ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3100879018ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3100879018ns5:FurtherSpecificReserve1ComponentTotalEquity2023-01-012023-12-3100879018ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3100879018ns5:FurtherSpecificReserve1ComponentTotalEquity2024-01-012024-12-3100879018ns5:LandBuildings2023-12-3100879018ns5:LandBuildings2024-12-3100879018ns5:LandBuildings2023-12-3100879018ns5:DeferredTaxation2023-12-3100879018ns5:DeferredTaxation2024-12-3100879018ns10:OrdinaryShareClass12024-12-31
REGISTERED NUMBER: 00879018 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GREEK STREET PROPERTIES LIMITED

GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


GREEK STREET PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: G Tombolis
Ms N J L D Ladas





SECRETARIES: N G Ladas
G Tombolis





REGISTERED OFFICE: 20-22 Leinster Square
London
W2 4PR





REGISTERED NUMBER: 00879018 (England and Wales)





ACCOUNTANTS: Hovnan & Co Ltd
Chartered Accountants
106 Ashurst Road
Cockfosters
London
EN4 9LG

GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,500,000 20,500,000

CURRENT ASSETS
Debtors 5 1,085 -
Cash at bank 1,686,792 1,539,935
1,687,877 1,539,935
CREDITORS
Amounts falling due within one year 6 796,043 693,449
NET CURRENT ASSETS 891,834 846,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,391,834

21,346,486

PROVISIONS FOR LIABILITIES 7 4,672,999 4,672,999
NET ASSETS 16,718,835 16,673,487

CAPITAL AND RESERVES
Called up share capital 8 2 2
Investment revaluation reserve 15,113,501 15,113,501
Retained earnings 1,605,332 1,559,984
SHAREHOLDERS' FUNDS 16,718,835 16,673,487

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

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

GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)

BALANCE SHEET - continued
31 DECEMBER 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 22 April 2025 and were signed on its behalf by:




G Tombolis - Director



Ms N J L D Ladas - Director


GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up Investment
share Retained revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2023 2 2,181,582 16,235,021 18,416,605

Changes in equity
Dividends - (790,000 ) - (790,000 )
Total comprehensive income - 168,402 (1,121,520 ) (953,118 )
Balance at 31 December 2023 2 1,559,984 15,113,501 16,673,487

Changes in equity
Dividends - (400,000 ) - (400,000 )
Total comprehensive income - 445,348 - 445,348
Balance at 31 December 2024 2 1,605,332 15,113,501 16,718,835

GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Greek Street Properties 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
Turnover represents rental income receivable during the year excluding value added tax.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided on investment properties.

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.

Financial instruments
Basic financial instruments are initally recognised at the transaction price including any transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value of the future payments discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 20,500,000
NET BOOK VALUE
At 31 December 2024 20,500,000
At 31 December 2023 20,500,000

Cost or valuation at 31 December 2024 is represented by:

Land and
buildings
£   
Valuation in 2010 4,259,863
Valuation in 2014 1,175,000
Valuation in 2016 3,872,270
Valuation in 2018 1,000,000
Valuation in 2019 9,500,000
Valuation in 2022 75,455
Cost 617,412
20,500,000

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

31.12.24 31.12.23
£    £   
Cost 617,412 617,412

Freehold investment property was valued on an open market basis on 31 December 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 1,085 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Taxation and social security 148,096 50,791
Other creditors 647,947 642,658
796,043 693,449

GREEK STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00879018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 4,672,999 4,672,999

Deferred
tax
£   
Balance at 1 January 2024 4,672,999
Balance at 31 December 2024 4,672,999

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
8 Ordinary 0.25 2 2