Golden Heights Property Limited

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

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Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 04931235

		2024		2023
	Notes	€	€	€	€
FIXED ASSETS
Tangible Assets	4		1,508,751		1,510,295

			1,508,751		1,510,295
CURRENT ASSETS
Cash at bank and in hand		20,067		12,357

		20,067		12,357
Creditors: Amounts Falling Due Within One Year	5	(3,692,705 )		(3,551,698 )

NET CURRENT ASSETS (LIABILITIES)			(3,672,638 )		(3,539,341 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,163,887 )		(2,029,046 )

NET LIABILITIES			(2,163,887 )		(2,029,046 )

CAPITAL AND RESERVES
Called up share capital	7		129		129
Profit and Loss Account			(2,164,016 )		(2,029,175 )

SHAREHOLDERS' FUNDS			(2,163,887)		(2,029,046)

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Golden Heights Property Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 16 December 2025 and were signed on its behalf by:

Mr J S Tawil

Director

The notes on pages 4 to 7 form part of these financial statements.

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Golden Heights Property Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Golden Heights Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04931235 .

The registered office is 9a Burroughs Gardens, London, NW4 4AU.

The principal place of business is Alka House, 17c Dollis Avenue, Finchley, London, N3 1DN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Euro (€) and figures are shown to the nearest whole Euro.

2.2. Going Concern Disclosure

The company meets its day to day working capital requirements through the support of its creditors.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

15% on reducing balance

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Golden Heights Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.9. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Tangible Assets

	Investment Properties	Plant & Machinery	Total
	€	€	€
Cost or Valuation
As at 1 January 2024	1,500,000	157,392	1,657,392

As at 31 December 2024	1,500,000	157,392	1,657,392

Depreciation
As at 1 January 2024	-	147,097	147,097
Provided during the period	-	1,544	1,544

As at 31 December 2024	-	148,641	148,641

...CONTINUED

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Golden Heights Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	1,500,000	8,751	1,508,751

As at 1 January 2024	1,500,000	10,295	1,510,295

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	€	€
Bank loans and overdrafts	44,025	163,299
Other loans	3,529,716	3,280,707
Amounts owed to group undertakings	59,738	53,174
Other creditors	59,226	54,518

	3,692,705	3,551,698

6. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	€	€
Amounts falling due within one year or on demand:
Bank loans	44,025	163,299
Other loans	3,529,716	3,280,707

	3,573,741	3,444,006

Bank loans

The loan from Deutsche Bank is secured by way of a mortgage over a property.

Other loans

As at 17 December 2024, the loan from Kolapore Limited was assigned to Maurice Tawil. Interest rate is variable and currently charged at 5% per annum and the loan is repayable in full on demand.

7. Share Capital

	2024	2023
Allotted, called up and fully paid	€	€
100 Ordinary Shares of € 1.29 each	129	129

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Golden Heights Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Related Party Disclosures

Transactions with directors and shareholders

As at balance sheet date, the company owed €56,090 (2023: €51,381) to Mr J Tawil, a director and shareholder of the company.

As at balance sheet date, the company owed €637 (2023: €637) to Mrs J Tawil, a shareholder of the company.

Golden Gates Limited

A company in which J Tawil is a director.

At the balance sheet date, the company owed Golden Gates Limited €59,737 (2023: €53,174) in respect of expenses paid on its behalf.

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Directors	Mr J S Tawil
	Mr D B Tawil

Secretary	Mr J S Tawil

Company Number	04931235

Registered Office	9a Burroughs Gardens
	London
	NW4 4AU

Accountants	Ripe LLP
	Chartered Accountants
	9a Burroughs Gardens
	London
	NW4 4AU