Platis Yalos Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10767197 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 12 MAY 2017 TO 31 MAY 2018

FOR

PLATIS YALOS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr D Tsoupidis

REGISTERED OFFICE:

869 High Road

London

N12 8QA

REGISTERED NUMBER:

10767197 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Investments

3

2,250,460

Investment property

4

7,389,846

9,640,306

CURRENT ASSETS

Debtors

5

8,114

Cash at bank

355,000

363,114

CREDITORS

Amounts falling due within one year

6

4,708,324

NET CURRENT LIABILITIES

(4,345,210

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,295,096

CREDITORS

Amounts falling due after more than one year

7

4,640,000

NET ASSETS

655,096

CAPITAL AND RESERVES

Called up share capital

200

Share premium

700,360

Retained earnings

(45,464

)

SHAREHOLDERS' FUNDS

655,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 March 2019 and were signed by:

Mr D Tsoupidis - Director

1.	STATUTORY INFORMATION

Platis Yalos 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.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the director is satisfied that the

company will have adequate resources to meet its liabilities to third parties as they fall due. The director will

finance the company as and when required.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

TURNOVER

Turnover represents net rent receivable, excluding value added tax.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at fair values.

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 director considers that, because

these properties are not held for consumption but for their investment potential, to depreciate them would not

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 loss for the financial period would have been

increased by the amount of depreciation.

TAXATION

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 period 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

2,250,460

At 31 May 2018

2,250,460

NET BOOK VALUE

At 31 May 2018

2,250,460

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

7,389,846

At 31 May 2018

7,389,846

NET BOOK VALUE

At 31 May 2018

7,389,846

Fair value at 31 May 2018 is represented by:

£

Cost

7,389,846

If investment properties had not been revalued they would have been included at the following historical cost:

£

Cost

7,389,846

Investment properties were valued on a fair value basis on 31 May 2018 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

8,114

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

4,627,290

Other creditors

81,034

4,708,324

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

4,640,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

4,640,000

The bank loans are secured by way of fixed charges over the investment properties owned by the company.

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY