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REGISTERED NUMBER: 11392555 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MICOS TITLES LTD

MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

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










Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


MICOS TITLES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: M Anastasi
C G Phouli
S G Anastasi





REGISTERED OFFICE: 163 Herne Hill
London
SE24 9LR





REGISTERED NUMBER: 11392555 (England and Wales)





ACCOUNTANTS: Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MICOS TITLES LTD


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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Micos Titles Ltd for the year ended 30 September 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Micos Titles Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Micos Titles Ltd and state those matters that we have agreed to state to the Board of Directors of Micos Titles Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Micos Titles Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Micos Titles Ltd. You consider that Micos Titles Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Micos Titles Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR


27 June 2025

MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 394 494
Investment property 5 7,155,001 6,770,451
7,155,395 6,770,945

CURRENT ASSETS
Debtors 6 49,298 15,258
Cash at bank 11,143 21,027
60,441 36,285
CREDITORS
Amounts falling due within one year 7 1,214,668 1,123,890
NET CURRENT LIABILITIES (1,154,227 ) (1,087,605 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,001,168

5,683,340

CREDITORS
Amounts falling due after more than one
year

8

(5,160,217

)

(4,869,421

)

PROVISIONS FOR LIABILITIES (224,063 ) (217,682 )
NET ASSETS 616,888 596,237

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 9 955,220 928,016
Retained earnings (338,432 ) (331,879 )
SHAREHOLDERS' FUNDS 616,888 596,237

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.

MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





C G Phouli - Director


MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

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


1. STATUTORY INFORMATION

Micos Titles Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery - 20% 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.

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 statement of financial position date.

Deferred tax
Deferred tax is provided using the liability method in respect of all material timing differences that have originated but not reversed by the statement of financial position date. Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset. The company has not adopted a policy of discounting deferred tax assets and liabilities

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

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


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 500
DEPRECIATION
At 1 October 2023 6
Charge for year 100
At 30 September 2024 106
NET BOOK VALUE
At 30 September 2024 394
At 30 September 2023 494

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 6,770,451
Additions 350,965
Revaluations 33,585
At 30 September 2024 7,155,001
NET BOOK VALUE
At 30 September 2024 7,155,001
At 30 September 2023 6,770,451

MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

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


5. INVESTMENT PROPERTY - continued

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 7,155,001

The company's investment properties were last revalued on 30 September 2024 by the directors at open market value. On historical cost basis these would have been included at a cost of £5,962,543 (2023 : £5,615,653) and aggregate depreciation of £201,561 (2023: £161,811).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 49,298 15,258

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 376,165 339,380
Other creditors 838,503 784,510
1,214,668 1,123,890

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,160,217 4,869,421

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,655,557 3,511,902

9. RESERVES
Non-distributable
reserve
£   
At 1 October 2023 928,016
Transfer of revaluation gain to
non-distributable reserve

33,585

Transfer of deferred tax on revaluation gain
to non-distributable reserve

(6,381

)


At 30 September 2024 955,220

MICOS TITLES LTD (REGISTERED NUMBER: 11392555)

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


10. RELATED PARTY DISCLOSURES

Micos Venture Ltd

A company in which Mr M Anastasi, Mr S G Anastasi and Mr C G Phouli are also directors.

At the year end, Micos Venture Ltd owed £17,726 (was owed in 2023: £8,392) to Micos Titles Ltd.

11. CHARGES

The company had 21 charges over its properties as at 30th September 2024. Details of the individual charges are available at Companies House.