REGISTERED NUMBER: 01296420 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PAUL ECONOMOU & COMPANY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A P Economou

Mrs K Economou

Mrs M Theodosiou

SECRETARY:

Mr A P Economou

REGISTERED OFFICE:

16 Praed Mews

Paddington

London

W2 1QY

REGISTERED NUMBER:

01296420 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Tangible assets

4

2,625

1,248

Investment property

5

11,360,000

10,915,000

11,362,625

10,916,248

CURRENT ASSETS

Debtors

6

76,135

176,707

Cash at bank

942,850

974,439

1,018,985

1,151,146

CREDITORS

Amounts falling due within one year

7

401,229

351,811

NET CURRENT ASSETS

617,756

799,335

TOTAL ASSETS LESS CURRENT LIABILITIES

11,980,381

11,715,583

PROVISIONS FOR LIABILITIES

8

2,003,000

1,891,800

NET ASSETS

9,977,381

9,823,783

CAPITAL AND RESERVES

Called up share capital

25,009

25,009

Capital redemption reserve

1,628

1,628

Non-distributable reserves

6,009,092

5,675,292

Retained earnings

3,941,652

4,121,854

SHAREHOLDERS' FUNDS

9,977,381

9,823,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 9 June 2025 and were signed on its behalf by:

Mr A P Economou - Director

1.	STATUTORY INFORMATION

Paul Economou & Company 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 net invoiced rental income and services.

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

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme on behalf of two directors. Contributions payable for the year are charged in the profit and loss account and also operates a stakeholder scheme for qualifying employees.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

7,841

2,889

10,730

Additions

-

2,173

2,173

At 31 March 2025

7,841

5,062

12,903

DEPRECIATION

At 1 April 2024

7,243

2,239

9,482

Charge for year

90

706

796

At 31 March 2025

7,333

2,945

10,278

NET BOOK VALUE

At 31 March 2025

508

2,117

2,625

At 31 March 2024

598

650

1,248

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

10,915,000

Revaluations

445,000

At 31 March 2025

11,360,000

NET BOOK VALUE

At 31 March 2025

11,360,000

At 31 March 2024

10,915,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

8,012,090

Cost

3,347,910

11,360,000

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

2025

2024

£

£

Cost

3,347,910

3,599,394

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

61,850

52,589

Other debtors

14,285

124,118

76,135

176,707

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

23

-

Taxation and social security

128,542

103,575

Other creditors

272,664

248,236

401,229

351,811

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,003,000

1,891,800

Deferred

tax

£

Balance at 1 April 2024

1,891,800

Provided during year

111,200

Balance at 31 March 2025

2,003,000

9.	RELATED PARTY DISCLOSURES

Included in creditors amount falling due within one year is an amount of £Nil (2024: £Nil) due to A Economou, director of the company. The loan is interest free.