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REGISTERED NUMBER: 07466112 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PAPASTAMOS LTD

PAPASTAMOS LTD (REGISTERED NUMBER: 07466112)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAPASTAMOS LTD

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: N Stamos Papastamos
H Massri





REGISTERED OFFICE: 8 Compton Terrace
Hermitage Road
London
London
N4 1LS





REGISTERED NUMBER: 07466112 (England and Wales)





ACCOUNTANTS: Robsons Accountants
19 Montpelier Avenue
Bexley
Kent
DA5 3AP

PAPASTAMOS LTD (REGISTERED NUMBER: 07466112)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 292 350
Tangible assets 5 9,177 9,359
9,469 9,709

CURRENT ASSETS
Debtors 6 18,485 115,130
Cash at bank 421,678 439,596
440,163 554,726
CREDITORS
Amounts falling due within one year 7 (36,648 ) (32,867 )
NET CURRENT ASSETS 403,515 521,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

412,984

531,568

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 412,884 531,468
SHAREHOLDERS' FUNDS 412,984 531,568

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

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

PAPASTAMOS LTD (REGISTERED NUMBER: 07466112)

BALANCE SHEET - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





H Massri - Director


PAPASTAMOS LTD (REGISTERED NUMBER: 07466112)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Papastamos Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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

Taxation
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 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 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PAPASTAMOS LTD (REGISTERED NUMBER: 07466112)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 584
AMORTISATION
At 1 January 2023 234
Charge for year 58
At 31 December 2023 292
NET BOOK VALUE
At 31 December 2023 292
At 31 December 2022 350

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 36,036
Additions 2,877
At 31 December 2023 38,913
DEPRECIATION
At 1 January 2023 26,677
Charge for year 3,059
At 31 December 2023 29,736
NET BOOK VALUE
At 31 December 2023 9,177
At 31 December 2022 9,359

PAPASTAMOS LTD (REGISTERED NUMBER: 07466112)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,485 17,452
Directors' current accounts - 97,678
18,485 115,130

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 31,150 29,800
Social security and other taxes 710 547
Directors' current accounts 2,120 -
Accrued expenses 2,668 2,520
36,648 32,867

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
N Stamos Papastamos and H Massri
Balance outstanding at start of year 97,678 -
Amounts advanced 97,678 97,678
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 195,356 97,678