REGISTERED NUMBER: 13325258 (England and Wales)

PAPAS PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr Nicos Papakyriacou

Mr Demetris Papakyriacou

REGISTERED OFFICE:

3rd Floor, Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

REGISTERED NUMBER:

13325258 (England and Wales)

ACCOUNTANTS:

Beavis Morgan LLP

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

FIXED ASSETS

Investment property

4

2,243,863

701,451

CURRENT ASSETS

Debtors

5

6,198

358,127

Cash at bank

29,312

69,798

35,510

427,925

CREDITORS

Amounts falling due within one year

6

2,243,827

1,096,560

NET CURRENT LIABILITIES

(2,208,317

)

(668,635

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,546

32,816

PROVISIONS FOR LIABILITIES

4,927

2,448

NET ASSETS

30,619

30,368

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

30,519

30,268

SHAREHOLDERS' FUNDS

30,619

30,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2026 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 24 September 2026 and were signed on its behalf by:

Mr Demetris Papakyriacou - Director

1.	STATUTORY INFORMATION

Papas 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable from the letting of the company's investment properties and is recognised evenly over the lease terms.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2025

701,451

Additions

1,542,412

At 30 April 2026

2,243,863

NET BOOK VALUE

At 30 April 2026

2,243,863

At 30 April 2025

701,451

Fair value at 30 April 2026 is represented by:

£

Valuation in 2022

19,707

Cost

2,224,156

2,243,863

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

2026

2025

£

£

Cost

2,224,156

681,744

Investment property was valued on an open market basis on 30 April 2026 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

6,198

358,127

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

12

-

Taxation and social security

640

3,287

Other creditors

2,243,175

1,093,273

2,243,827

1,096,560

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

The company has retained profits of £30,519 which includes non-distributable reserves of £14,780 representing cumulative revaluations to investment properties of £19,707 less deferred tax provided of £4,927. Distributable reserves as at 30 April 2026 are therefore £15,739.