Herodotos Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03117857

Herodotos Limited

Filleted Unaudited Financial Statements

31 October 2024

Herodotos Limited

Statement of Financial Position

31 October 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		12,076,697	12,077,072

Current assets

Debtors	6	47,663	14,630
Cash at bank and in hand		219,344	365,335
		----------	----------
		267,007	379,965

Creditors: amounts falling due within one year	7	272,188		187,084
		----------		----------
Net current (liabilities)/assets			( 5,181)	192,881
			--------------	--------------
Total assets less current liabilities			12,071,516	12,269,953

Creditors: amounts falling due after more than one year	8		3,150,000	3,500,000

Provisions

Taxation including deferred tax	9	1,385,448	1,385,448
		--------------	--------------
Net assets		7,536,068	7,384,505
		--------------	--------------

Capital and reserves

Called up share capital		1,000	1,000
Fair Value Revaluation Reserve	10	5,519,395	5,519,395
Profit and loss account	10	2,015,673	1,864,110
		-------------	-------------
Shareholders funds		7,536,068	7,384,505
		-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Herodotos Limited

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 11 November 2025 , and are signed on behalf of the board by:

Mr A Kotsis

Director

Company registration number: 03117857

Herodotos Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 767 - 769 High Road, North Finchley, London, N12 8JY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% on written down value

Investment property

Investment property is initially recorded 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 Fair Value Revaluation Reserve.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	49,668	44,376
Adjustments in respect of prior periods	–	170
	----------	----------
Total current tax	49,668	44,546
	----------	----------

Deferred tax:

Origination and reversal of timing differences	–	332,507
	----------	----------
Tax on profit	49,668	377,053
	----------	----------

5. Tangible assets

	Freehold property	Long leasehold property	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 November 2023 and 31 October 2024	3,768,323	8,307,250	43,893	12,119,466
	-------------	-------------	----------	--------------
Depreciation
At 1 November 2023	–	–	42,394	42,394
Charge for the year	–	–	375	375
	-------------	-------------	----------	--------------
At 31 October 2024	–	–	42,769	42,769
	-------------	-------------	----------	--------------
Carrying amount
At 31 October 2024	3,768,323	8,307,250	1,124	12,076,697
	-------------	-------------	----------	--------------
At 31 October 2023	3,768,323	8,307,250	1,499	12,077,072
	-------------	-------------	----------	--------------

Investment property is initially recorded 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 Fair Value Revaluation Reserve.

6. Debtors

	2024	2023
	£	£
Trade debtors	41,331	7,745
Other debtors	6,332	6,885
	----------	----------
	47,663	14,630
	----------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	68,323	17,315
Corporation tax	49,668	44,376
Other creditors	154,197	125,393
	----------	----------
	272,188	187,084
	----------	----------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	3,150,000	3,500,000
	-------------	-------------

9. Provisions

	Deferred tax
	£
At 1 November 2023 and 31 October 2024	1,385,448
	-------------

10. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.

11. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.