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Registered number: 05964493
Babis Koffas Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Charalampos Koffas
Secretary Ms Irene Christodoulou
Company Number 05964493
Registered Office First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Accountants Town & Forest
Chartered Accountants & Statutory Auditors
First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Page 1
Page 2
Balance Sheet
Registered number: 05964493
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 55,752 69,111
55,752 69,111
CURRENT ASSETS
Debtors 5 38,246 27,356
Cash at bank and in hand 448,149 327,505
486,395 354,861
Creditors: Amounts Falling Due Within One Year 6 (142,356 ) (73,646 )
NET CURRENT ASSETS (LIABILITIES) 344,039 281,215
TOTAL ASSETS LESS CURRENT LIABILITIES 399,791 350,326
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,952 ) (8,510 )
NET ASSETS 390,839 341,816
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 390,739 341,716
SHAREHOLDERS' FUNDS 390,839 341,816
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Charalampos Koffas
Director
26 July 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Babis Koffas Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05964493 . The registered office is First Floor, New Barnes Mill, Cottonmill Lane, St Albans, AL1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 30% on reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
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 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 is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
2.7. Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 60,930 89,529 1,401 165 152,025
Additions - - - 587 587
As at 31 October 2023 60,930 89,529 1,401 752 152,612
Depreciation
As at 1 November 2022 40,982 40,543 1,224 165 82,914
Provided during the period 3,990 9,797 27 132 13,946
As at 31 October 2023 44,972 50,340 1,251 297 96,860
Net Book Value
As at 31 October 2023 15,958 39,189 150 455 55,752
As at 1 November 2022 19,948 48,986 177 - 69,111
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 37,562 27,025
Prepayments and accrued income 684 331
38,246 27,356
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,800
Corporation tax 76,407 48,943
Other taxes and social security - 45
VAT 29,761 20,801
Accruals and deferred income 2,438 2,000
Director's loan account 140 50
Amounts owed to other participating interests 33,610 7
142,356 73,646
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7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2022 8,510 8,510
Additions 442 442
Balance at 31 October 2023 8,952 8,952
8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Charalampos Koffas (50 ) 186,528 (186,618 ) - (140 )
The above loan is unsecured, interest free and repayable on demand.
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