REGISTERED NUMBER: |
MOSFILO TRADING LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
REGISTERED NUMBER: |
MOSFILO TRADING LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
MOSFILO TRADING LIMITED (REGISTERED NUMBER: 14611753) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MOSFILO TRADING LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor, One Hobbs House, |
Harrovian Business Village |
Bessborough Road |
Harrow |
Middlesex |
HA1 3EX |
MOSFILO TRADING LIMITED (REGISTERED NUMBER: 14611753) |
BALANCE SHEET |
31 JANUARY 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
MOSFILO TRADING LIMITED (REGISTERED NUMBER: 14611753) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Mosfilo Trading Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 is recognised when the properties are occupied. |
Tangible fixed assets |
Although the Companies Act require the systematic annual depreciation of fixed assets, the directors believe the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of properties, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified. |
Taxation |
Taxation for the period 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 is 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 |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
MOSFILO TRADING LIMITED (REGISTERED NUMBER: 14611753) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
Additions |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by associates |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loan | 2,770,276 |
The Bank loan is secured by way of a fixed and floating charges, and negative pledge over the company's properties. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 1,000 |
1,000 Ordinary Shares of £1 each were issued during the. For a premium of £4,858.62 each in return for the introduction of properties at market value from Mosfilo LLP. |
MOSFILO TRADING LIMITED (REGISTERED NUMBER: 14611753) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 23 JANUARY 2023 TO 31 JANUARY 2024 |
10. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
Deficit for the period | ( |
) | ( |
) |
Share premium |
At 31 January 2024 | ( |
) | 4,826,969 |
11. | RELATED PARTY DISCLOSURES |
At the period-end date, included within debtors, amount falling due within one year, is an amount of £400,295 owed by related entity in which the director S Andreou has beneficial interest. |
This amount is unsecured, interest-free and repayable on demand. |
At the period-end date, included within creditors, amounts falling due within one year, are the amounts of £439,071 and £1,186 owed to the directors, S Andreou and C Andreou respectively. |
These amounts are unsecured, interest-free and payable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling parties are S Andreou and C Andreou. |
The ultimate controlling party is S Andreou by virtue of his shareholdings. |