2022-06-012023-05-312023-05-31false10207673BALAXIS CONSULTING 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BALAXIS CONSULTING LIMITED

Registered Number
10207673
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

BALAXIS CONSULTING LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

PILAVAKIS, Alexis Demitrios Christopher

Registered Address

20-22 Wenlock Road
London
N1 7GU

Registered Number

10207673 (England and Wales)
BALAXIS CONSULTING LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets76075
6075
Current assets
Debtors3001,122
3001,122
Creditors amounts falling due within one year10(4,842)(4,386)
Net current assets (liabilities)(4,542)(3,264)
Total assets less current liabilities(4,482)(3,189)
Provisions for liabilities(22)(22)
Net assets(4,504)(3,211)
Capital and reserves
Called up share capital11
Profit and loss account(4,505)(3,212)
Shareholders' funds(4,504)(3,211)
The financial statements were approved and authorised for issue by the Director on 20 February 2024, and are signed on its behalf by:
PILAVAKIS, Alexis Demitrios Christopher
Director
Registered Company No. 10207673
BALAXIS CONSULTING LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of providing consultancy services.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
6.Employee information

20232022
Average number of employees during the year11
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 June 22285
At 31 May 23285
Depreciation and impairment
At 01 June 22210
Charge for year15
At 31 May 23225
Net book value
At 31 May 2360
At 31 May 2275
8.Description of nature of transactions and balances with related parties
At the balance sheet date the company owed £4,313 (2022 : £3,560 ) to the director which is an interest free loan with no fixed date for repayment.
9.Debtors within one year

2023

2022

££
Other debtors3001,122
Total3001,122
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Taxation and social security-321
Other creditors4,3133,560
Accrued liabilities and deferred income529505
Total4,8424,386
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.