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Company Registration No. 07514074 (England and Wales)
Philip Kassanis Limited Unaudited accounts for the year ended 29 February 2024
Philip Kassanis Limited Unaudited accounts Contents
Page
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Philip Kassanis Limited Company Information for the year ended 29 February 2024
Director
P Kassanis
Company Number
07514074 (England and Wales)
Registered Office
26 Carisbrooke House Courtlands, Sheen Road Richmond TW10 5AZ
Accountants
Allshires Accountancy Limited 18 Stratford Road Shipston-on-stour Warwickshire CV36 4AU
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Philip Kassanis Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,408 
3 
Current assets
Debtors
8,934 
8,328 
Cash at bank and in hand
2,691 
1,885 
11,625 
10,213 
Creditors: amounts falling due within one year
(9,242)
(5,889)
Net current assets
2,383 
4,324 
Total assets less current liabilities
3,791 
4,327 
Creditors: amounts falling due after more than one year
(2,210)
(3,770)
Net assets
1,581 
557 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,481 
457 
Shareholders' funds
1,581 
557 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 June 2024 and were signed on its behalf by
P Kassanis Director Company Registration No. 07514074
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Philip Kassanis Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Philip Kassanis Limited is a private company, limited by shares, registered in England and Wales, registration number 07514074. The registered office is 26 Carisbrooke House, Courtlands, Sheen Road, Richmond, TW10 5AZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Philip Kassanis Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
2,461 
Additions
2,097 
At 29 February 2024
4,558 
Depreciation
At 1 March 2023
2,458 
Charge for the year
692 
At 29 February 2024
3,150 
Net book value
At 29 February 2024
1,408 
At 28 February 2023
3 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,020 
1,199 
Other debtors
7,914 
7,129 
8,934 
8,328 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,560 
1,560 
Trade creditors
2,823 
397 
Taxes and social security
815 
731 
Other creditors
2,302 
1,484 
Accruals
1,742 
1,717 
9,242 
5,889 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,210 
3,770 
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Philip Kassanis Limited Notes to the Accounts for the year ended 29 February 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
P Kassanis
3,354 
1,847 
3,354 
1,847 
3,354 
1,847 
3,354 
1,847 
The above interest free directors loan was repaid in full by 10 June 2024.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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