REGISTERED NUMBER: 11344070 (England and Wales)

ACN ESTATES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N Neophytou

A Neophytou

REGISTERED OFFICE:

125 Lordship Lane

London

N17 6XE

REGISTERED NUMBER:

11344070 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

FIXED ASSETS

Investment property

4

944,732

944,732

CURRENT ASSETS

Debtors

5

97,525

119,129

Cash at bank and in hand

2,716

3,899

100,241

123,028

CREDITORS

Amounts falling due within one year

6

714,064

1,006,224

NET CURRENT LIABILITIES

(613,823

)

(883,196

)

TOTAL ASSETS LESS CURRENT LIABILITIES

330,909

61,536

CREDITORS

Amounts falling due after more than one year

7

292,871

-

NET ASSETS

38,038

61,536

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

37,938

61,436

38,038

61,536

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by:

N Neophytou - Director

1.	STATUTORY INFORMATION

ACN Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents gross rent receivable.

Investment property

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. 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 FRS 102 (Section 1A). The directors considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would no give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) 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 decreased by the amount of depreciation.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

and 31 May 2025

944,732

NET BOOK VALUE

At 31 May 2025

944,732

At 31 May 2024

944,732

The investment properties have been valued by the directors at cost price as of the year-end date, as they have concluded that there has been no material impact on their value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by associates

55,525

67,525

Other debtors

42,000

51,604

97,525

119,129

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

13,092

23,274

Taxation and social security

(3,599

)

9,823

Other creditors

704,571

973,127

714,064

1,006,224

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

292,871

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

292,871

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

292,871

-

The bank loan is secured by a fixed charge over the company’s investment properties.

9.	RELATED PARTY DISCLOSURES

Included in debtors, amounts falling due within one year, is an interest free amount of £30,000 (2024: £30,000) owed by Grove Motor Company Limited. The companies are connected by being under common control.

Included in debtors, amounts falling due within one year, is an interest free amount of £55,525 (2024: £67,525) owed by ACN Automotive Ltd. The companies are connected by being under common control.

Included in debtors, amounts falling due within one year, is an interest free amount of £12,000 owed by J.T.F Motor Services Limited. The companies are connected by being under common control.

Included within creditors falling due within one year, is an amount of £22,544 (2024: Dr. £21,604) owed to Neo Capital Investments Ltd. The companies are connected by being under common control.

Included within creditors falling due within one year is an amount of £680,287 (2024: £971,387) owed to the director, A. Neophytou.The loan is interest-free, unsecured, and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is ACN Group Limited.