Real Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03864236 (England and Wales)

REAL PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Stylianou

Mr G Leonidas

SECRETARY:

Mr P Adamou BSc, MCMI, FPC

REGISTERED OFFICE:

South Point House

321 Chase Road

Southgate

London

N14 6JT

REGISTERED NUMBER:

03864236 (England and Wales)

ACCOUNTANTS:

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

FIXED ASSETS

Tangible assets

4

-

Investment property

5

1,338,440

CURRENT ASSETS

Debtors

6

2,690,767

2,686,755

Cash at bank and in hand

148,915

33,007

2,839,682

2,719,762

CREDITORS

Amounts falling due within one year

7

30,865

30,166

NET CURRENT ASSETS

2,808,817

2,689,596

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,147,257

4,028,036

CREDITORS

Amounts falling due after more than one
year

8

1,998,500

1,857,500

NET ASSETS

2,148,757

2,170,536

CAPITAL AND RESERVES

Called up share capital

11

100

Fair value reserve

12

263,101

Retained earnings

12

1,885,556

1,907,335

SHAREHOLDERS' FUNDS

2,148,757

2,170,536

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 26 September 2025 and were signed on its behalf by:

Mr C Stylianou - Director

1.	STATUTORY INFORMATION

Real 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 gross rents receivable for the year. Turnover is recognised when rent becomes due under the lease agreement.

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

-

Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

12,272

DEPRECIATION

At 1 January 2024

and 31 December 2024

12,272

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,338,440

NET BOOK VALUE

At 31 December 2024

1,338,440

At 31 December 2023

1,338,440

Fair value at 31 December 2024 is represented by:

£

Valuation in 1026

263,101

Cost

1,075,339

1,338,440

Freehold Investment properties have not been revalued during the year, because in the directors opinion the market value of the properties at the balance sheet date is not different from that shown above.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

5,850

900

Other debtors

1,503,000

1,603,000

Amounts owed from related undertakings

1,170,000

1,070,000

Prepayments and accrued income

11,917

12,855

2,690,767

2,686,755

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts (see note 9)

-

7,778

Trade creditors

13,523

9,299

Corporation tax

4,499

Directors' loan accounts

6,123

5,350

Accruals and deferred income

6,720

3,240

30,865

30,166

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans (see note 9)

1,998,500

1,857,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

1,998,500

1,857,500

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

Amounts falling due within one year or on demand:

Bank loans

-

7,778

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

1,998,500

1,857,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

1,998,500

1,865,278

The bank loans are secured by fixed and floating charges over the company's assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary

£1

100

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 January 2024

1,907,335

263,101

2,170,436

Deficit for the year

(21,779

)

(21,779

)

At 31 December 2024

1,885,556

263,101

2,148,657

13.	ULTIMATE CONTROLLING PARTY

There is no overall control of the company by any one person.