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REGISTERED NUMBER: 11323203 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

POTAMITIS LTD

POTAMITIS LTD (REGISTERED NUMBER: 11323203)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


POTAMITIS LTD (REGISTERED NUMBER: 11323203)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,890 13,186

CURRENT ASSETS
Stocks 5 2,595 3,210
Debtors 6 - 981
Cash at bank 22,803 13,930
25,398 18,121
CREDITORS
Amounts falling due within one year 7 21,603 20,871
NET CURRENT ASSETS/(LIABILITIES) 3,795 (2,750 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,685

10,436

CREDITORS
Amounts falling due after more than one
year

8

-

(10,008

)

PROVISIONS FOR LIABILITIES (1,879 ) (3,267 )
NET ASSETS/(LIABILITIES) 11,806 (2,839 )

RESERVES
Retained earnings 11,806 (2,839 )
11,806 (2,839 )

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

POTAMITIS LTD (REGISTERED NUMBER: 11323203)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2023 and were signed by:





M Potamitis - Director


POTAMITIS LTD (REGISTERED NUMBER: 11323203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Potamitis Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11323203

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


POTAMITIS LTD (REGISTERED NUMBER: 11323203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued
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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022
and 30 April 2023 21,596 1,744 710 24,050
DEPRECIATION
At 1 May 2022 9,448 1,006 410 10,864
Charge for year 3,037 184 75 3,296
At 30 April 2023 12,485 1,190 485 14,160
NET BOOK VALUE
At 30 April 2023 9,111 554 225 9,890
At 30 April 2022 12,148 738 300 13,186

5. STOCKS
2023 2022
£    £   
Work-in-progress 2,595 3,210

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 981

POTAMITIS LTD (REGISTERED NUMBER: 11323203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 194 (1 )
Taxation and social security 610 219
Other creditors 20,799 20,653
21,603 20,871

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) - 10,008

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 424

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years - 2,396

Amounts falling due between two and five years:
Bank loans - 2-5 years - 7,188

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 424

10. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:


20232022
£   £   
Amounts owed by/(to) M Potamitis (Director)(18,042)(17,960)

The controlling party is M Potamitis.