Pyrgos Estates Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04232630 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

PYRGOS ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A G Ioannou

SECRETARY:

Mrs M Ioannou

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

04232630 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certifed Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

3,167

3,254

Investment property

5

900,000

900,000

903,167

903,254

CURRENT ASSETS

Debtors

6

295,518

310,957

Cash at bank

5,701

1,896

301,219

312,853

CREDITORS

Amounts falling due within one year

7

23,301

28,081

NET CURRENT ASSETS

277,918

284,772

TOTAL ASSETS LESS CURRENT LIABILITIES

1,181,085

1,188,026

CREDITORS

Amounts falling due after more than one year

8

(569,846

)

(585,641

)

PROVISIONS FOR LIABILITIES

10

(48,303

)

(32,846

)

NET ASSETS

562,936

569,539

CAPITAL AND RESERVES

Called up share capital

11

100

100

Fair value reserve

12

418,692

434,149

Retained earnings

144,144

135,290

SHAREHOLDERS' FUNDS

562,936

569,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 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 director and authorised for issue on 16 May 2023 and were signed by:

Mr A G Ioannou - Director

1.	STATUTORY INFORMATION

Pyrgos Estates 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 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 amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

not provided

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year 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 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 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 July 2021

and 30 June 2022

2,675

12,899

15,574

DEPRECIATION

At 1 July 2021

-

12,320

12,320

Charge for year

-

87

87

At 30 June 2022

-

12,407

12,407

NET BOOK VALUE

At 30 June 2022

2,675

492

3,167

At 30 June 2021

2,675

579

3,254

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

and 30 June 2022

900,000

NET BOOK VALUE

At 30 June 2022

900,000

At 30 June 2021

900,000

Fair value at 30 June 2022 is represented by:

£

Valuation in 2018

466,995

Cost

433,005

900,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Other debtors

295,518

310,957

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Corporation tax payable

18,245

22,545

Accruals

5,056

5,536

23,301

28,081

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans more than 5 years

569,846

585,641

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

569,846

585,641

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Bank loans

569,846

585,641

10.	PROVISIONS FOR LIABILITIES

30.6.22

30.6.21

£

£

Deferred tax

48,303

32,846

Deferred

tax

£

Balance at 1 July 2021

32,846

Provided during year

15,457

Balance at 30 June 2022

48,303

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.22

30.6.21

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Fair

value

reserve

£

At 1 July 2021

434,149

Fair value movement

(15,457

)

At 30 June 2022

418,692

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs Ioannou.