REGISTERED NUMBER: 09863871 (England and Wales)

GERIK INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C A Joannou

Mr E Mytilineos

REGISTERED OFFICE:

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

REGISTERED NUMBER:

09863871 (England and Wales)

ACCOUNTANTS:

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

FIXED ASSETS

Tangible assets

4

255,650

296,005

Investment property

5

6,533,449

6,533,449

6,789,099

6,829,454

CURRENT ASSETS

Debtors

6

46,702

38,427

Cash at bank

204,247

170,982

250,949

209,409

CREDITORS

Amounts falling due within one year

7

165,848

357,773

NET CURRENT ASSETS/(LIABILITIES)

85,101

(148,364

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,874,200

6,681,090

CAPITAL AND RESERVES

Called up share capital

8

7,150,000

6,950,000

Retained earnings

9

(275,800

)

(268,910

)

SHAREHOLDERS' FUNDS

6,874,200

6,681,090

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 directors acknowledge their 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 Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

Mr C A Joannou - Director

1.	STATUTORY INFORMATION

Gerik Investments 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.

During the year functional currency has been changed from UK sterling to Euro € as this is considered to be the most appropriate currency relating to the trading activities. Therefore, share capital for prior year translated into Euro € .

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

20% on cost

Investment property

The company's investment properties are held as long term investments and are included in the Balance Sheet at their open market values.The surplus(es) or deficit(s) on revaluation of investment properties are transferred to the revaluation reserve, apart from when the revaluation is below the original cost which is charged to the profit and loss account. No depreciation is provided in these accounts in respect of the investment properties.

All Investment properties are revalued every year. The surplus(es) or deficit(s) on revaluation of such properties are transferred to revaluation reserve, apart from when the revaluation is below the original cost and in the opinion of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account. On the disposal of a revalued fixed asset, any related balances in the revaluation reserve are transferred to the profit and loss account as a movement in reserves.

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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

€

COST

At 1 January 2024

545,271

Additions

12,713

At 31 December 2024

557,984

DEPRECIATION

At 1 January 2024

249,266

Charge for year

53,068

At 31 December 2024

302,334

NET BOOK VALUE

At 31 December 2024

255,650

At 31 December 2023

296,005

5.	INVESTMENT PROPERTY

Total

€

FAIR VALUE

At 1 January 2024

and 31 December 2024

6,533,449

NET BOOK VALUE

At 31 December 2024

6,533,449

At 31 December 2023

6,533,449

Included in fair value of investment property is freehold land of €1,277,985 (2023: €1,277,985).

In the opinion of the directors, the fair value of the freehold investment property as at 31 December 2024, is not materially different from that stated in the accounts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Other debtors

46,266

37,736

Prepayments

436

691

46,702

38,427

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Trade creditors

4,090

4,253

Other creditors

5,143

203,467

Directors' current accounts

126,115

122,387

Accrued expenses

30,500

27,666

165,848

357,773

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

€

€

7,150,000

Ordinary

£1

7,150,000

6,950,000

200,000 Ordinary shares of £1 were issued during the year for cash of £ 200,000 .

9.

RESERVES

Retained

earnings

€

At 1 January 2024

(268,910

)

Deficit for the year

(6,890

)

At 31 December 2024

(275,800

)

10.	RELATED PARTY DISCLOSURES

Gemerika Limited, Company incorporated in Cyprus, controls the company as a result of holding 100 percent of the issued share capital.