Company Registration No. 03824305 (England and Wales)
Terea Properties Ltd
Unaudited financial statements
for the year ended 31 December 2024
Terea Properties Ltd
Unaudited financial statements
Contents
Terea Properties Ltd
Company Information
for the year ended 31 December 2024
Company Number
03824305 (England and Wales)
Registered Office
38 Morland Road
Harrow
London
HA3 9LU
England
Accountants
PV Mehta & Co Ltd
38 Morland Road
Harrow
London
HA3 9LU
Terea Properties Ltd
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
761
818
Creditors: amounts falling due within one year
(1,409,226)
(1,409,227)
Net current liabilities
(1,408,465)
(1,408,409)
Net liabilities
(1,408,465)
(1,408,409)
Called up share capital
100
100
Profit and loss account
(1,408,565)
(1,408,509)
Shareholders' funds
(1,408,465)
(1,408,409)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2025 and were signed on its behalf by
G. B. Tayoun
Director
Company Registration No. 03824305
Terea Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024
Terea Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 03824305. The registered office is 38 Morland Road, Harrow, London, HA3 9LU, England.
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Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A and Companies Act 2006, as applicable to companies subject to the small companies’ regime.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The validity of this assumption is on the basis of that the company will continue to be supported by company's immediate parent Europtima International Offshore SAL (Lebanon).
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and
settle the liability simultaneously.
Basic financial liabilities
Basic financial liabilities, including creditors and amounts due to fellow group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,845
1,845
Amounts owed to group undertakings and other participating interests
1,342,893
1,342,893
Loans from directors
64,488
64,489
Terea Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024
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Transactions with related parties
At the year end, the company owed £1,336,519 (2023: £1,336,519) to its immediate parent company, Europtima International Offshore SAL, a company registered in Lebanon.
At the year end, the company owed £6,590 (2023: £4,790) to Medical Facilities Projects UK Limited, a company held under common control.
At the year end, the company owed £872 (2023: £872) to Europtima Europe Limited, a company under common control.
At the year end, the company was owed £1,088 (2023: £1,088) from GTI Investments Limited, a company under common control.
The immediate parent company is Europtima International Offshore SAL, a company registered in Lebanon.
The ultimate controlling party is G.B. Tayoun.
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Average number of employees
During the year the average number of employees was 1 (2023: 1).