REGISTERED NUMBER: 00831767 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

C.TSANGARIDES & CO.LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Andrew Tsangarides

Mrs Maria Tsangarides

Mr Michael Tsangarides

SECRETARY:

Mr Andrew Tsangarides

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

00831767 (England and Wales)

ACCOUNTANTS:

K J Pittalis and Partners LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

4

26,509,370

26,797,744

CURRENT ASSETS

Stocks

5,100

5,450

Debtors

5

30,883

164,032

Cash at bank and in hand

1,811,077

1,536,454

1,847,060

1,705,936

CREDITORS

Amounts falling due within one year

6

(339,463

)

(333,426

)

NET CURRENT ASSETS

1,507,597

1,372,510

TOTAL ASSETS LESS CURRENT LIABILITIES

28,016,967

28,170,254

PROVISIONS FOR LIABILITIES

7

(3,738,678

)

(3,739,235

)

NET ASSETS

24,278,289

24,431,019

CAPITAL AND RESERVES

Called up share capital

8

2,621,000

2,621,000

Revaluation reserve

19,029,009

19,274,421

Retained earnings

2,628,280

2,535,598

SHAREHOLDERS' FUNDS

24,278,289

24,431,019

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 25 September 2025 and were signed on its behalf by:

Mr Andrew Tsangarides - Director

Mr Michael Tsangarides - Director

1.	STATUTORY INFORMATION

C.Tsangarides & Co.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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 sales of services net of VAT and trade discounts. Turnover is recognised when the services are provided to the customer.

Tangible fixed assets

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

Land and buildings

-

Building only over 100 years on building

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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 21 (2023 - 24 ) .

4.	TANGIBLE ASSETS

Fixtures

Land and

and

Motor

Computer

buildings

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2024

28,600,000

619,230

54,130

13,018

29,286,378

Additions

-

1,796

-

-

1,796

At 31 December 2024

28,600,000

621,026

54,130

13,018

29,288,174

DEPRECIATION

At 1 January 2024

1,817,600

617,056

42,415

11,563

2,488,634

Charge for year

286,000

802

3,004

364

290,170

At 31 December 2024

2,103,600

617,858

45,419

11,927

2,778,804

NET BOOK VALUE

At 31 December 2024

26,496,400

3,168

8,711

1,091

26,509,370

At 31 December 2023

26,782,400

2,174

11,715

1,455

26,797,744

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Land and

and

Motor

Computer

buildings

fittings

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2018

18,440,000

1,796

-

-

18,441,796

Valuation in 2014

1,160,000

-

-

-

1,160,000

Valuation in 2012

4,840,864

-

-

-

4,840,864

Valuation in 1988

1,050,176

-

-

-

1,050,176

Valuation in 1985

150,145

-

-

-

150,145

Cost

2,958,815

619,230

54,130

13,018

3,645,193

28,600,000

621,026

54,130

13,018

29,288,174

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

31/12/24

31/12/23

£

£

Cost

2,958,815

2,958,815

The properties were valued on an open market basis on 5 September 2019 by Sloan Property Services Limited .

The fair value of the properties at December 2024 has been arrived at on the basis of the above valuation. The directors believe the market conditions of this valuation existed at the year end. Market evidence consists of transaction prices for similar hotel properties in the location and taking into account the rental yield in the area where the properties are situated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

16,168

25,123

Other debtors

14,715

138,909

30,883

164,032

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

41,544

47,586

Pension contribution

1,540

2,243

Corporation tax

101,021

123,785

PAYE

21,100

26,138

VAT

84,366

80,008

Advance deposits

33,386

5,959

Directors' current accounts

5,785

4,074

Accrued expenses

50,721

43,633

339,463

333,426

7.	PROVISIONS FOR LIABILITIES

31/12/24

31/12/23

£

£

Deferred tax

Accelerated capital allowances

3,078

3,635

Deferred tax

3,735,600

3,735,600

3,738,678

3,739,235

Deferred

tax

£

Balance at 1 January 2024

3,739,235

Credit to Income Statement during year

(557

)

Balance at 31 December 2024

3,738,678

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

1,000

Ordinary

£1

1,000

1,000

2,620,000

Ordinary A

£1

2,620,000

2,620,000

2,621,000

2,621,000