REGISTERED NUMBER: 09306283 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

EUROCREST SUB7 LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr T Panayiotou

REGISTERED OFFICE:

Brookway House

2 Nichol Close

Southgate

London

N14 6JU

REGISTERED NUMBER:

09306283 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Investment property

4

3,182,616

3,182,616

CURRENT ASSETS

Debtors

5

1,596,649

1,575,280

Cash at bank and in hand

106,206

146,073

1,702,855

1,721,353

CREDITORS

Amounts falling due within one year

6

214,871

214,101

NET CURRENT ASSETS

1,487,984

1,507,252

TOTAL ASSETS LESS CURRENT LIABILITIES

4,670,600

4,689,868

CREDITORS

Amounts falling due after more than one year

7

2,150,000

2,150,000

NET ASSETS

2,520,600

2,539,868

CAPITAL AND RESERVES

Called up share capital

2,490,857

2,490,857

Retained earnings

29,743

49,011

SHAREHOLDERS' FUNDS

2,520,600

2,539,868

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 T Panayiotou - Director

1.	STATUTORY INFORMATION

Eurocrest Sub7 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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

and 30 June 2024

3,182,616

NET BOOK VALUE

At 30 June 2024

3,182,616

At 30 June 2023

3,182,616

Fair value at 30 June 2024 is represented by:

£

Valuation in 2024

3,182,616

If Investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

3,182,616

3,182,616

Investment properties were valued on a fair value basis on 30 June 2023 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

9,175

7,250

Amounts owed by group undertakings

12,470

12,470

Other debtors

1,575,004

1,555,560

1,596,649

1,575,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,347

4,602

Taxation and social security

6,393

5,796

Other creditors

207,131

203,703

214,871

214,101

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

2,150,000

2,150,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

2,150,000

2,150,000

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

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024

2023

£

£

Mr T Panayiotou

Balance outstanding at start of year

20,213

-

Amounts advanced

-

20,213

Amounts repaid

(20,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

213

20,213

10.	RELATED PARTY DISCLOSURES

Included in debtors, amounts falling due within one year is a balance of £213 (2023: £ 20,213 )due from the director Mr T Panayioytou. Interest amounting to £Nil (2023:£213) has been charged at official rate. The balance has been repaid within 9 months of the accounting year end.

The following balances include amounts due to and amounts due from companies in which the director is a director and/or a shareholder:

2024 2023

£ £

Futurebond Property Investments Limited

Amount due to related party at the balance sheet date 187,565 188,165

Kids Property Ltd

Amount due from related party at the balance sheet date 455,000 380,000

Nayland Rock Hotels Ltd

Amount due from related party at the balance sheet date 196,375 196,375

Ketris Holding Ltd

Amount due from parent company at the balance sheet date 12,470 12,470

305 Chase House Ltd

Amount due from related party at the balance sheet date 144,000 144,000

SHG Ltd

Amount due from related party at the balance sheet date 37,500 37,500

Kittyco Sub 1 Ltd

Amount due from related party at the balance sheet date 747,351 747,351