A.A.Z. Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04338230 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

A.A.Z. PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A E Zorbis

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

04338230 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

12,911

17,215

Investments

5

50

Investment property

6

17,627,107

17,640,068

17,644,372

CURRENT ASSETS

Debtors

7

159,832

316,833

Cash at bank

31,273

32,803

191,105

349,636

CREDITORS

Amounts falling due within one year

8

157,989

186,126

NET CURRENT ASSETS

33,116

163,510

TOTAL ASSETS LESS CURRENT
LIABILITIES

17,673,184

17,807,882

CREDITORS

Amounts falling due after more than one
year

9

(8,423,000

)

(8,485,000

)

PROVISIONS FOR LIABILITIES

11

(568,990

)

(568,990

)

NET ASSETS

8,681,194

8,753,892

CAPITAL AND RESERVES

Called up share capital

12

2

Fair value reserve

13

5,910,309

Retained earnings

2,770,883

2,843,581

SHAREHOLDERS' FUNDS

8,681,194

8,753,892

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

Mr A E Zorbis - Director

1.	STATUTORY INFORMATION

A.A.Z. 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.

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 in the year net of any losses from voids.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment properties are revalued annually at their open market value. The surplus or deficit in revaluation is transferred to the profit and loss account in accordance with Financial Reporting Standard 102 and does not form part of distributable reserves.

No depreciation is provided on investment properties which is a departure from the requirement of the Companies Act 2006. In the opinion of the director, these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 January 2024

and 31 December 2024

90,682

10,640

101,322

DEPRECIATION

At 1 January 2024

81,447

2,660

84,107

Charge for year

2,309

1,995

4,304

At 31 December 2024

83,756

4,655

88,411

NET BOOK VALUE

At 31 December 2024

6,926

5,985

12,911

At 31 December 2023

9,235

7,980

17,215

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1 January 2024

and 31 December 2024

50

NET BOOK VALUE

At 31 December 2024

50

At 31 December 2023

50

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

17,627,107

NET BOOK VALUE

At 31 December 2024

17,627,107

At 31 December 2023

17,627,107

Fair value at 31 December 2024 is represented by:

£

Valuation in 2010

1,994,611

Valuation in 2015

975,000

Valuation in 2016

(145,664

)

Valuation in 2017

3,655,352

Cost

11,147,808

17,627,107

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

31.12.24

31.12.23

£

Cost

11,147,808

Investment properties were valued on an open market basis on 31 December 2024 by the director. .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

2,686

2,687

Other debtors

149,646

304,646

Prepayments

7,500

9,500

159,832

316,833

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

116,831

155,300

Tax

5,797

4,026

Social security and other taxes

817

656

Advance deposit received

10,000

Accruals and deferred income

24,544

16,144

157,989

186,126

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans more 5 yr by instal

8,423,000

8,485,000

31.12.24

31.12.23

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,423,000

8,485,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank overdrafts

116,831

155,300

Bank loans

8,423,000

8,485,000

8,539,831

8,640,300

The bank loans are secured by a debenture over the company's assets and a first legal charge over the investment properties.

11.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

568,990

Deferred

tax

£

Balance at 1 January 2024

568,990

Balance at 31 December 2024

568,990

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

2

Ordinary

£1

2

13.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

5,910,309