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REGISTERED NUMBER: 09061929















Unaudited Financial Statements for the Year Ended 31 May 2023

for

KOUNTIS LIMITED

KOUNTIS LIMITED (REGISTERED NUMBER: 09061929)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KOUNTIS LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Dr C F Mavrovitis
A P Mavis





REGISTERED OFFICE: Flat 59 Eton College Road
Eton Rise
Hampstead
London
NW3 2DQ





REGISTERED NUMBER: 09061929





ACCOUNTANTS: All Rohit Accounting Ltd
115 Northumberland Road
North Harrow
Middlesex
HA2 7RB

KOUNTIS LIMITED (REGISTERED NUMBER: 09061929)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 774,732 774,732

CURRENT ASSETS
Cash at bank 1,160 2,576

CREDITORS
Amounts falling due within one year 5 473,140 468,617
NET CURRENT LIABILITIES (471,980 ) (466,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,752

308,691

CREDITORS
Amounts falling due after more than one
year

6

366,639

366,639
NET LIABILITIES (63,887 ) (57,948 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (63,987 ) (58,048 )
SHAREHOLDERS' FUNDS (63,887 ) (57,948 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

KOUNTIS LIMITED (REGISTERED NUMBER: 09061929)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:





A P Mavis - Director


KOUNTIS LIMITED (REGISTERED NUMBER: 09061929)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

Kountis Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

In accordance with Statement of Standard Accounting Practice No 19:
- investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve; and
- no depreciation or amortisation is provided in respect of freehold properties and leasehold investment properties with over 20 periods to run.

This treatment, as regards certain of the company's investment properties, may be a departure from the
requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified

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.

KOUNTIS LIMITED (REGISTERED NUMBER: 09061929)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 774,732
NET BOOK VALUE
At 31 May 2023 774,732
At 31 May 2022 774,732

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 183,899 181,746
Directors' current accounts 289,241 286,871
473,140 468,617

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 32,466 32,466
Bank loans - 2-5 years 48,699 48,699
Bank loans more 5 yr by instal 285,474 285,474
366,639 366,639

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 285,474 285,474

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 366,639 366,639

The bank loans are secured by fixed charge over the properties of the company.