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REGISTERED NUMBER: 10280986 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

PSAMATHE MYKONOS LIMITED

PSAMATHE MYKONOS LIMITED (REGISTERED NUMBER: 10280986)






Contents of the Financial Statements
for the year ended 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PSAMATHE MYKONOS LIMITED

Company Information
for the year ended 31 JULY 2023







DIRECTORS: J O Golby
A J Pittalis





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 10280986 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

PSAMATHE MYKONOS LIMITED (REGISTERED NUMBER: 10280986)

Statement of Financial Position
31 JULY 2023

31/7/23 31/7/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 525

CURRENT ASSETS
Debtors 5 - 29,600
Cash at bank - 6,472
- 36,072
CREDITORS
Amounts falling due within one year 6 (3,213 ) (86,180 )
NET CURRENT LIABILITIES (3,213 ) (50,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,213

)

(49,583

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (4,213 ) (50,583 )
SHAREHOLDERS' FUNDS (3,213 ) (49,583 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:




A J Pittalis - Director


PSAMATHE MYKONOS LIMITED (REGISTERED NUMBER: 10280986)

Notes to the Financial Statements
for the year ended 31 JULY 2023

1. STATUTORY INFORMATION

Psamathe Mykonos Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents sales of services net of VAT and trade discounts. Turnover is recognised when the goods are provided to the customer.

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

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 the 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.

Cash and cash equivalent
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

PSAMATHE MYKONOS LIMITED (REGISTERED NUMBER: 10280986)

Notes to the Financial Statements - continued
for the year ended 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022
and 31 July 2023 1,573
DEPRECIATION
At 1 August 2022 1,048
Charge for year 525
At 31 July 2023 1,573
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 525

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Suppliers paid in advance - 29,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade creditors - (34 )
Other creditors - 35,000
VAT 1 4,347
Directors' current accounts 2,012 45,667
Accrued expenses 1,200 1,200
3,213 86,180

7. RELATED PARTY DISCLOSURES

At the year end date, the company owed the directors £2014 (2022 - £45,668).

8. ULTIMATE CONTROLLING PARTY

The company is under control by the directors who are also the company shareholders.