Carovija Properties (No.2) Limited

The principal activity of the company is the letting of holiday accommodation in Portugal. The company was incorporated on 17th July 2007 and commenced trading on 28th July 2008. It acquired apartment 967C in Vale do Lobo, in the Algarve, on 23rd April 2008 and it continues to own and rent out this property. Management services are provided by Klaus Grigutsch Limitada and by Vale do Lobo (Turismo) Limitada. Results and dividends The results are shown on page 4. The directors do not recommend the payment of a dividend. The accounts are expressed in euros, being the currency in which almost all the income and expenses are incurred. After a 70% reduction in revenue in 2020 and 2021 as a result of the covid pandemic, bookings doubled in 2022. In 2023, the rental pattern returned to consisting largely of bookings from outside Portugal, at a slightly reduced overall level compared to 2022. In 2024, the rental pattern still consists largely of bookings from outside Portugal, at a slightly higher overall level compared to 2023. The gross rental income for the year was €27,655 (2023: €22,722) which is 22% higher than in the previous year. No additions were made to the property during the year. The loss for the year was €23,397 (2023: €30,241). As for the year ahead, we have had this major refurbishment programme of the kitchen and the two bathrooms, and we raised our letting rates by up to 10%; following which, the level of lettings in 2025 has been particularly strong.