REGISTERED NUMBER: 12441835 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

FT Property Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

Mr Antonakis Kyriacou Ioannou

Mrs Maria Ioannou

REGISTERED OFFICE:

10A Aldermans Hill

London

N13 4PJ

REGISTERED NUMBER:

12441835 (England and Wales)

ACCOUNTANTS:

Chris Pantazis Ltd T/A CPS & Co

Chartered Accountants

10A Aldermans Hill

Palmers Green

London

N13 4PJ

FIXED ASSETS

Investments

3

10,600,000

10,600,000

CURRENT ASSETS

Debtors

4

3,633,132

3,391,573

Cash at bank and in hand

94,451

350,360

3,727,583

3,741,933

CREDITORS

Amounts falling due within one year

5

84,142

131,731

NET CURRENT ASSETS

3,643,441

3,610,202

TOTAL ASSETS LESS CURRENT LIABILITIES

14,243,441

14,210,202

CREDITORS

Amounts falling due after more than one year

6

3,450,000

3,450,000

NET ASSETS

10,793,441

10,760,202

CAPITAL AND RESERVES

Called up share capital

9

10,600,001

10,600,001

Retained earnings

10

193,440

160,201

SHAREHOLDERS' FUNDS

10,793,441

10,760,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 8 December 2025 and were signed on its behalf by:

Mr Antonis Ioannou - Director

1.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2024

and 28 February 2025

10,600,000

NET BOOK VALUE

At 28 February 2025

10,600,000

At 29 February 2024

10,600,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other debtor

3,553,132

3,311,573

Bank Deposit

80,000

80,000

3,633,132

3,391,573

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Tax

30,816

59,798

Other creditors

35,565

37,552

Deposits held

17,761

34,381

84,142

131,731

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans (see note 7)

3,450,000

3,450,000

7.

LOANS

An analysis of the maturity of loans is given below:

28.2.25

29.2.24

£

£

Amounts falling due between two and five years:

Bank loans 2-5 years

3,450,000

3,450,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Bank loans

3,450,000

3,450,000

SECURITIES

FT Property Management Ltd has the following list of securities as at 28th November 2022 :

1) Charge code: 1244 1835 0003

The freehold property being the land on the west side of rowley lane, arkley registered at hm land registry with title number AGL145812.

Contains fixed charge.

Contains negative pledge.

2) Charge code: 1244 1835 0002

The freehold property being part of rowley bank farm, rowley lane, barnet (EN5 3HS) conveyed pursuant a transfer of part dated on or about the date of this deed and made between (1) antonis ioannou and (2) ft property management LTD to be registered out of title number AGL74077.

Contains fixed charge.

Contains negative pledge.

3) Charge code: 1244 1835 0001

The freehold property being the land on the west side of rowley lane, arkley registered at hm land registry registered at hm land registry with title number AGL145812; and. The freehold property being part of rowley bank farm, rowley lane, barnet (EN5 3HS) conveyed pursuant a transfer of part dated on or about the date of this deed and made between (1) antonis ioannou and (2) ft property management LTD to be registered out of title number AGL74077.

Contains fixed charge.

Contains floating charge.

Floating charge covers all the property or undertaking of the company.

Contains negative pledge.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

10,600,001

Ordinary

£1.00

10,600,001

10,600,001

10.

RESERVES

Retained

earnings

£

At 1 March 2024

160,201

Profit for the year

33,239

At 28 February 2025

193,440

11.	RELATED PARTY DISCLOSURES

At the year end the amount of £2,972,723 (2024: £2,662,500) was receivable from Besorico Trading Ltd, a related company registered in Cyprus (Company registration No: HE79722). These amounts are included " Debtors: amounts falling due within one year" .

Mr A Ioannou is a director and own siginificant control in both companies.

At the year end the amount of £460,362.05 (2024: £649,073) was receiveable from Zaharas Development Ltd, a related company registered in England (Company registration No: 09034518) . These amounts are included " Debtors: amounts falling due within one year" .

During the year, FT Property Management Ltd charged rent of £440,000 to Zaharas Development Ltd.

Mr A Ioannou is a director in both companies.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28 February 2025 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Chris Pantazis Ltd T/A CPS & Co

Chartered Accountants

10A Aldermans Hill

Palmers Green

London

N13 4PJ

8 December 2025