REGISTERED NUMBER: 13593790 (England and Wales)

CHRISTOFOROU REAL ESTATE HOLDINGS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2024 TO 30 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N Christoforou

Mrs B Christoforou

SECRETARY:

Mr N Christoforou

REGISTERED OFFICE:

55 Loudoun Road

London

NW8 0DL

REGISTERED NUMBER:

13593790 (England and Wales)

FIXED ASSETS

Tangible assets

4

118,859

151,412

Investments

5

900

900

Investment property

6

34,069,656

34,069,656

34,189,415

34,221,968

CURRENT ASSETS

Debtors

7

221,320

318,464

Cash at bank

2,458,515

1,923,464

2,679,835

2,241,928

CREDITORS

Amounts falling due within one year

8

674,634

25,612,700

NET CURRENT ASSETS/(LIABILITIES)

2,005,201

(23,370,772

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,194,616

10,851,196

CREDITORS

Amounts falling due after more than one year

9

(13,500,000

)

(13,461,707

)

PROVISIONS FOR LIABILITIES

13

(4,507,524

)

(4,630,473

)

NET ASSETS/(LIABILITIES)

18,187,092

(7,240,984

)

CAPITAL AND RESERVES

Called up share capital

14

1,000

1,000

Fair value reserve

15

17,580,698

17,514,053

Retained earnings

605,394

(24,756,037

)

SHAREHOLDERS' FUNDS

18,187,092

(7,240,984

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 August 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 August 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 29 October 2026 and were signed on its behalf by:

Mr N Christoforou - Director

1.	STATUTORY INFORMATION

Christoforou Real Estate Holdings 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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Turnover

Turnover represents rental income receivable net of VAT. Turnover is recognised at the point the rent is due from tenants.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% reducing balance

Fixtures and fittings 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease's asset are consumed.

Going concern

At the time of approving the financial statements, the company meets its day to day working capital requirements by the support of its related undertakings. The director has confirmed that the related undertakings not to withdraw the current loan facility for the foreseeable future and until such time as the Company has sufficient cash reserves. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than it carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

252,764

Additions

7,531

At 30 August 2025

260,295

DEPRECIATION

At 1 September 2024

101,352

Charge for period

40,084

At 30 August 2025

141,436

NET BOOK VALUE

At 30 August 2025

118,859

At 31 August 2024

151,412

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 30 August 2025

900

NET BOOK VALUE

At 30 August 2025

900

At 31 August 2024

900

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

34,069,656

Additions

86,019

Revaluations

(86,019

)

At 30 August 2025

34,069,656

NET BOOK VALUE

At 30 August 2025

34,069,656

At 31 August 2024

34,069,656

The valuations of investment properties were made as at 30 August 2025 by the director Nicholas Christoforou on an open market basis. No depreciation is provided in respect of these properties.

Fair value at 30 August 2025 is represented by:

£

Valuation in 2025

22,058,510

Cost

12,011,146

34,069,656

7.

DEBTORS

30.8.25

31.8.24

as restated

£

£

Amounts falling due within one year:

Trade debtors

37,939

252,632

Amounts owed by group undertakings

30,372

-

Other debtors

5,000

65,832

73,311

318,464

Amounts falling due after more than one year:

Other debtors

148,009

-

Aggregate amounts

221,320

318,464

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.8.25

31.8.24

as restated

£

£

Trade creditors

13,182

4,722

Amounts owed to group undertakings

35,815

24,865,587

Taxation and social security

127,881

-

Other creditors

497,756

742,391

674,634

25,612,700

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.8.25

31.8.24

as restated

£

£

Bank loans (see note 10)

13,500,000

13,459,031

Taxation and social security

-

2,676

13,500,000

13,461,707

10.

LOANS

An analysis of the maturity of loans is given below:

30.8.25

31.8.24

as restated

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

13,500,000

13,459,031

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.8.25

31.8.24

as restated

£

£

Within one year

26,831

-

Between one and five years

40,247

-

67,078

-

12.	SECURED DEBTS

The following secured debts are included within creditors:

30.8.25

31.8.24

as restated

£

£

Bank loans

13,500,000

13,459,031

The bank loan and overdraft facilities are secured by a first legal charge dated 23rd december 2021 over the freehold properties, together with a debenture over the company's assets.

13.	PROVISIONS FOR LIABILITIES

30.8.25

31.8.24

as restated

£

£

Deferred tax

4,507,524

4,630,473

Deferred

tax

£

Balance at 1 September 2024

4,630,473

Provided during period

(122,949

)

Balance at 30 August 2025

4,507,524

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.8.25

31.8.24

value:

as restated

£

£

100

ORDINARY

£1

1,000

1,000

15.

RESERVES

Fair

value

reserve

£

At 1 September 2024

17,514,053

Fair value movement

66,645

At 30 August 2025

17,580,698

16.

RELATED PARTY

TRANSACTIONS

The Company has taken advantage of the exemption available in accordance with FRS 102 Section 1A paragraph 1AC.35 not to disclose transactions entered into between two or more members of a group, as the company and the other subsidiaries are wholly owned subsidiary undertakings of the group to which they are party to the transactions.