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COMPANY REGISTRATION NUMBER: 07962599
Stavros Brekoulakis Limited
Filleted Unaudited Financial Statements
29 February 2024
Stavros Brekoulakis Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Stavros Brekoulakis Limited
Balance Sheet
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
135
1,618
Current assets
Debtors
6
115,390
525,916
Investments
7
500,602
Cash at bank and in hand
521,815
670,955
------------
------------
1,137,807
1,196,871
Creditors: amounts falling due within one year
8
79,571
220,705
------------
------------
Net current assets
1,058,236
976,166
------------
---------
Total assets less current liabilities
1,058,371
977,784
Creditors: amounts falling due after more than one year
9
75,581
79,907
Provisions
308
------------
---------
Net assets
982,790
897,569
------------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
10
982,690
897,469
---------
---------
Shareholders funds
982,790
897,569
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Stavros Brekoulakis Limited
Balance Sheet (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Dr Stavros Brekoulakis
Director
Company registration number: 07962599
Stavros Brekoulakis Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Fernhurst Road, London, SW6 7JW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Equipment
-
25% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
675
5,873
6,548
----
-------
-------
Depreciation
At 1 March 2023
405
4,525
4,930
Charge for the year
135
1,348
1,483
----
-------
-------
At 29 February 2024
540
5,873
6,413
----
-------
-------
Carrying amount
At 29 February 2024
135
135
----
-------
-------
At 28 February 2023
270
1,348
1,618
----
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
524,334
Other debtors
115,390
1,582
---------
---------
115,390
525,916
---------
---------
7. Investments
2024
2023
£
£
Investments
500,602
---------
----
Investments having an aggregated net book value of £500,000 (2023: £Nil) have an aggregate market value of £500,602 at the year end (2023: £Nil). The investments are carried at their fair market value.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,709
Corporation tax
34,374
217,945
Social security and other taxes
9,403
Other creditors
34,085
2,760
--------
---------
79,571
220,705
--------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
75,581
79,907
--------
--------
10. Reserves
2024 2024
£ £
Distributable reserves 944,638 860,019
Non-distributable reserves 37,450 37,450
Gain on financial assets at fair value 602
--------- ---------
982,690 897,469
--------- ---------