Christou Holdings UK Ltd 09435955 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false true true 2023-04-30 09435955 2022-03-01 2023-02-28 09435955 2023-02-28 09435955 bus:OrdinaryShareClass1 2023-02-28 09435955 core:CurrentFinancialInstruments 2023-02-28 09435955 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09435955 core:Subsidiary1 2023-02-28 09435955 bus:SmallEntities 2022-03-01 2023-02-28 09435955 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 09435955 bus:FullAccounts 2022-03-01 2023-02-28 09435955 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 09435955 bus:RegisteredOffice 2022-03-01 2023-02-28 09435955 bus:Director1 2022-03-01 2023-02-28 09435955 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 09435955 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09435955 core:OtherRelatedParties 2022-03-01 2023-02-28 09435955 core:Subsidiary1 2022-03-01 2023-02-28 09435955 core:Subsidiary1 1 2022-03-01 2023-02-28 09435955 countries:AllCountries 2022-03-01 2023-02-28 09435955 core:CostValuation 2022-02-28 09435955 2021-03-01 2022-02-28 09435955 2022-02-28 09435955 bus:OrdinaryShareClass1 2022-02-28 09435955 core:CurrentFinancialInstruments 2022-02-28 09435955 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 09435955 core:Subsidiary1 1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09435955

Christou Holdings UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Christou Holdings UK Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Christou Holdings UK Ltd

Company Information

Director

C Christou

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Christou Holdings UK Ltd

(Registration number: 09435955)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

1,822,390

1,739,494

Cash at bank and in hand

 

861,899

1,156,315

 

2,684,289

2,895,809

Creditors: Amounts falling due within one year

6

-

(779)

Net current assets

 

2,684,289

2,895,030

Net assets

 

2,684,290

2,895,031

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

2,684,288

2,895,029

Shareholders' funds

 

2,684,290

2,895,031

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 September 2023
 

.........................................
C Christou
Director

 

Christou Holdings UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
2.3 York Central
70 - 78 York Way
London
N1 9AG

These financial statements were authorised for issue by the director on 7 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company is exempt from preparing group accounts as it is a member of a small group.

Group accounts not prepared

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Christou Holdings UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Christou Holdings UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

2023
£

2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 March 2022

1

Provision

Carrying amount

At 28 February 2023

1

At 28 February 2022

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

CIINA Limited

England & Wales

Ordinary Shares

100%

100%

Subsidiary undertakings

CIINA Limited

The principal activity of CIINA Limited is designers & manufacturers of fashion wear. Its financial period end is 30 April. The loss for the financial period of CIINA Limited was £143,868 and the aggregate amount of Capital and reserves at the end of the period was £(206,443).

 

Christou Holdings UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Debtors

Current

2023
£

2022
£

Other debtors

1,822,390

1,739,494

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Director loan account

-

779

 

Christou Holdings UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £2,500.00 (2022 - £12,500.00) per ordinary share

 

5,000

 

25,000

         

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Contributions paid to money purchase schemes

-

2,250

Summary of transactions with other related parties


Included in other debtors is an amount of £ 74,256 (2022: Creditor £779) owed by C Christou, the director of the company. This amount was fully repaid on the 12th March 2023.
Included in other debtors is an amount of £912,023 (2022: £915,023) owed from Christou Property Investments Ltd, a company under common control. Also included in other debtors is an amount of £480,548 (2022: £324,808) owed from Ciina Ltd, a company under common control.
Also included in other debtors is amount of £355,563 (2022: £355, 563) owed from MPC Ltd, a connected company.