Registration number: 02886517

Fenzi Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Fenzi Limited

Company Information

Directors

Mr J C Hajivassiliou Mrs A Hajivassiliou

Registered office

115 Brunswick Park Road London N11 1EA

Accountants

Keano Services Limited

Fenzi Limited

(Registration number: 02886517)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	3,001,600	3,001,882
Current assets
Cash at bank and in hand		1,305	2,345
Creditors: Amounts falling due within one year	5	(361,271)	(368,024)
Net current liabilities		(359,966)	(365,679)
Total assets less current liabilities		2,641,634	2,636,203
Creditors: Amounts falling due after more than one year	5	(5,476)	(9,889)
Provisions for liabilities		(514,636)	(514,636)
Net assets		2,121,522	2,111,678
Capital and reserves
Called up share capital	6	100	100
Revaluation reserve		2,153,094	2,153,094
Retained earnings		(31,672)	(41,516)
Shareholders' funds		2,121,522	2,111,678

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

Fenzi Limited

(Registration number: 02886517)
Balance Sheet as at 31 December 2024

......................................... Mr J C Hajivassiliou Director

......................................... Mrs A Hajivassiliou Director

Fenzi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Engand.

The address of its registered office is:
115 Brunswick Park Road
London
N11 1EA

These financial statements were authorised for issue by the Board on 19 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Fenzi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance

Investment property

Investment property is 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Fenzi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4	Tangible assets

	Land and buildings £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	3,000,000	18,057	3,018,057
At 31 December 2024	3,000,000	18,057	3,018,057
Depreciation
At 1 January 2024	-	16,175	16,175
Charge for the year	-	282	282
At 31 December 2024	-	16,457	16,457
Carrying amount
At 31 December 2024	3,000,000	1,600	3,001,600
At 31 December 2023	3,000,000	1,882	3,001,882

Included within the net book value of land and buildings above is £3,000,000 (2023 - £3,000,000) in respect of freehold land and buildings.
 

Fenzi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	208,000	238,309
Taxation and social security		2,330	2,000
Accruals and deferred income		4,500	15,000
Other creditors		146,441	112,715
		361,271	368,024

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	5,476	9,889

6	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

7	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	5,476	9,889

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	208,000	238,309