REGISTERED NUMBER: 09305087 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

EUROCREST SUB3 LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P Stavrou

REGISTERED OFFICE:

Brookway House

2 Nichol House

Southgate

London

N14 6HA

REGISTERED NUMBER:

09305087 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Investment property

4

3,297,634

3,162,634

CURRENT ASSETS

Debtors

5

1,133,467

1,131,398

Cash at bank and in hand

1,090,961

1,038,462

2,224,428

2,169,860

CREDITORS

Amounts falling due within one year

6

395,831

218,075

NET CURRENT ASSETS

1,828,597

1,951,785

TOTAL ASSETS LESS CURRENT LIABILITIES

5,126,231

5,114,419

CREDITORS

Amounts falling due after more than one year

7

2,550,000

2,550,000

NET ASSETS

2,576,231

2,564,419

CAPITAL AND RESERVES

Called up share capital

2,490,857

2,490,857

Retained earnings

85,374

73,562

SHAREHOLDERS' FUNDS

2,576,231

2,564,419

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

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

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 17 September 2025 and were signed by:

Mr P Stavrou - Director

1.	STATUTORY INFORMATION

Eurocrest Sub3 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.

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.

Rental income is recognised and included in turnover when it becomes due under the terms of the lease.

Investment property

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income

statement.Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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 recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2023

3,162,634

Additions

135,000

At 30 June 2024

3,297,634

NET BOOK VALUE

At 30 June 2024

3,297,634

At 30 June 2023

3,162,634

Fair value at 30 June 2024 is represented by:

£

Valuation in 2024

3,297,634

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

22,471

22,082

Amounts owed by group undertakings

13,750

12,490

Amounts owed by participating interests

1,004,746

1,004,326

Other debtors

92,500

92,500

1,133,467

1,131,398

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

38,244

2,608

Amounts owed to participating interests

333,283

198,883

Taxation and social security

4,063

1,301

Other creditors

20,241

15,283

395,831

218,075

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

2,550,000

2,550,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

2,550,000

2,550,000

The bank loan is secured by way of a fixed and floating charge on all assets of the company.

9.	RELATED PARTY DISCLOSURES

The below balances show amounts due from and amounts due to, companies in which the director Mr P Stavrou is also a director or shareholder. The loans are interest free:

2024 2023

£ £

Nayland Rock Hotels Ltd

Amount due by related party 291,375 291,375

Xenios Ltd

Amount due to related party 7,917 7,917

Emiss Group Ltd

Amount due by related party 13,750 12,490

Kittyco Sub2 Limited

Amount due by related party 712,951 712,951

305 Chase House Limited

Amount due to related party 144,000 144,000

Brookway Estates Limited

Amount due to related party 181,366 46,966

Brookway Loan Limited

Amount due by related party 420 -

10.	ULTIMATE CONTROLLING PARTY

There was no ultimate controlling party during the period under review.