REGISTERED NUMBER: 08321359 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PRIVATE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A Misirlis

Miss E Misirlis

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

08321359 (England and Wales)

AUDITORS:

Freemans Partnership LLP

Chartered Certified Accountants

and Statutory Auditors

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

1,075,000

1,075,000

CURRENT ASSETS

Debtors

5

96,728

98,768

Cash at bank and in hand

100,433

124,534

197,161

223,302

CREDITORS

Amounts falling due within one year

6

667,188

725,127

NET CURRENT LIABILITIES

(470,027

)

(501,825

)

TOTAL ASSETS LESS CURRENT LIABILITIES

604,973

573,175

CREDITORS

Amounts falling due after more than one year

7

545,301

511,830

NET ASSETS

59,672

61,345

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

59,671

61,344

SHAREHOLDERS' FUNDS

59,672

61,345

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 15 October 2025 and were signed on its behalf by:

Mr A Misirlis - Director

1.	STATUTORY INFORMATION

Private 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 on a going concern basis under the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis which the directors consider to be appropriate.

At the time of approving the financial statements the directors have reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of the financial statements. The company therefore continues to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimations and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the Directors believe that the critical accounting policies where judgments or estimations are necessarily applied are summarised below.

Fair value of investment property - The directors review the fair value of the investment property at each reporting date to ensure that the carrying amount represents the value of the property.

Turnover

Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts, other sales taxes and net of VAT.

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 2 (2023 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,075,000

NET BOOK VALUE

At 31 December 2024

1,075,000

At 31 December 2023

1,075,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2020

(284,460

)

Valuation in 2022

75,000

Cost

1,284,460

1,075,000

Investment property was valued on an open market basis on 31 December 2024 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

4,545

Amounts owed by group undertakings

10,076

-

Other debtors

22,500

22,500

Prepayments

6,412

10,507

Deferred tax

57,740

61,216

96,728

98,768

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

45,356

Trade creditors

-

469

Amounts owed to group undertakings

611,947

630,025

Tax

5,697

10,925

VAT

5,280

5,281

Deferred income

25,081

29,191

Accrued expenses

19,183

3,880

667,188

725,127

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

-

46,780

Bank loans - 2-5 years

-

149,355

Bank loans more 5 yr by instal

-

315,695

Other loans - 2-5 years

95,436

-

Other loans more 5yrs instal

449,865

-

545,301

511,830

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

315,695

Other loans more 5yrs instal

449,865

-

449,865

315,695

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Other loans

545,301

-

The ultimate controlling company, Zorobian Enterprises Limited, has granted a first-ranking share charge over all of its shares in the Company under a financing agreement dated 4 November 2024. No security has been granted by the Company over its own assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary shares

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 January 2024

61,344

Deficit for the year

(1,673

)

At 31 December 2024

59,671

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Raju Kalia (Senior Statutory Auditor)

for and on behalf of Freemans Partnership LLP

12.	RELATED PARTY DISCLOSURES

At the year end the company owed £611,913 (2023: £629,991) to Zorobian Enterprises Limited, a company which has significant influence over the entity. The balance is unsecured, interest free and payable on demand.

At the year end the company owed £34 (2023: £34) to Y.A.M. Imperio Enterprises Limited, a company which has significant influence over the entity. The balance is unsecured, interest free and payable on demand.

At the year end Nisos Estates Ltd, a company which has the same ultimate controlling party, owed the company £10,076 (2023: Nil). The balance is unsecured, interest free and payable on demand.

13.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Zorobian Enterprises Limited.

The ultimate controlling party and holding company is Zorobian Enterprises Limited, a company incorporated in Cyprus. The smallest and largest group in which the company is included within the group financial statements is that of Zorobian Enterprises Limited, copies of which can be obtained from Kedron 5, Imperio House, Mesa Geitonia, 4004, Limassol, Cyprus