| HARKOS PROPERTY MANAGEMENT LTD |
| Registered number: |
04105306 |
| Balance Sheet |
| as at 30 November 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
630,000 |
|
|
630,000 |
|
| Current assets |
| Debtors |
4 |
|
843,567 |
|
|
843,487 |
| Cash at bank and in hand |
|
|
49,392 |
|
|
30,764 |
|
|
|
892,959 |
|
|
874,251 |
|
| Creditors: amounts falling due within one year |
5 |
|
(31,975) |
|
|
(26,991) |
|
| Net current assets |
|
|
|
860,984 |
|
|
847,260 |
|
| Total assets less current liabilities |
|
|
|
1,490,984 |
|
|
1,477,260 |
|
|
| Provisions for liabilities |
|
|
|
(104,088) |
|
|
(104,088) |
|
|
| Net assets |
|
|
|
1,386,896 |
|
|
1,373,172 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
99 |
|
|
99 |
| Revaluation reserve |
6 |
|
|
312,265 |
|
|
312,265 |
| Profit and loss account |
|
|
|
1,074,532 |
|
|
1,060,808 |
|
| Shareholders' funds |
|
|
|
1,386,896 |
|
|
1,373,172 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Savvakis Harkos |
| Director |
| Approved by the board on 31 August 2025 |
|
| HARKOS PROPERTY MANAGEMENT LTD |
| Notes to the Accounts |
| for the year ended 30 November 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investment Property |
|
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. |
|
Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
|
|
Defferred tax is provided on these gains at the rate expected to apply if the property is sold at |
|
the balance sheet date. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment Property |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Fair Value |
|
At 1 December 2023 |
630,000 |
|
At 30 November 2024 |
630,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 November 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2024 |
630,000 |
|
At 30 November 2023 |
630,000 |
|
|
|
|
|
|
|
|
|
|
Fair value at 30 November 2023. If investment property had no been revalued it would have been included at following historical cost |
|
Freehold land and buildings: |
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
Historical cost |
213,646 |
|
Property Revaluation |
416,354 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
- |
|
630,000 |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
13,000 |
|
13,000 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
830,000 |
|
830,000 |
|
Other debtors |
567 |
|
487 |
|
|
|
|
|
|
843,567 |
|
843,487 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
- |
|
120 |
|
Taxation and social security costs |
9,441 |
|
7,041 |
|
Other creditors |
22,534 |
|
19,830 |
|
|
|
|
|
|
31,975 |
|
26,991 |
|
|
|
|
|
|
|
|
|
|
Deferred Tax |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 December 2023 |
104,088 |
|
Deferred Tax |
104,088 |
|
|
At 30 November 2024 |
104,088 |
|
104,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 December 2023 |
312,265 |
|
Revaluation Gain |
312,265 |
|
|
At 30 November 2024 |
312,265 |
|
312,265 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
2024 |
|
2023 |
| £ |
£ |
|
FAMAGUSTA INVESTMENTS LLP |
- |
|
(120) |
|
A Company Under Common Control |
|
|
DYNAMI TOWER INVESTMENTS LTD |
415,000 |
|
415,000 |
|
A Company Under Common Control |
|
|
|
|
|
- |
|
- |
|
|
|
LIANDI PROPERTIES LTD |
415,000 |
|
415,000 |
|
A Company Under Common Control |
|
|
|
|
|
- |
|
- |
|
|
| 8 |
Related Party Disclosure |
|
Included in the other debtors due within a year is an amount £830,000 (2022: £830,000) due from connected companies under common control. The loans were interest free and recoverable on demand. |
|
Included in the other creditors due within a year, is an amount £120 (2022: £120) due to |
|
connected companies under common control. The loans were interest free and repayable on demand. |
|
| 9 |
Other information |
|
HARKOS PROPERTY MANAGEMENT LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 4 Stirling Court Yard |
|
Stirling Way |
|
Borehamwood |
|
United Kingdom |
|
WD6 2FX |