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Company Registration No. 06878284 (England and Wales)
Karpasi Food Imports Limited Unaudited accounts for the year ended 30 April 2024
Karpasi Food Imports Limited Unaudited accounts Contents
Page
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Karpasi Food Imports Limited Company Information for the year ended 30 April 2024
Director
P Panayiotou
Company Number
06878284 (England and Wales)
Registered Office
2 PAUL GARDENS CROYDON SURREY CR0 5QL
Accountants
Milton & Co International Accountants 2 Paul Gardens Croydon Surrey CR0 5QL
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Karpasi Food Imports Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,459 
16,696 
Current assets
Inventories
24,500 
40,000 
Debtors
4,450 
4,448 
Cash at bank and in hand
807 
1,509 
29,757 
45,957 
Creditors: amounts falling due within one year
(73,698)
(70,962)
Net current liabilities
(43,941)
(25,005)
Total assets less current liabilities
(30,482)
(8,309)
Creditors: amounts falling due after more than one year
(36,671)
(50,605)
Net liabilities
(67,153)
(58,914)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(67,154)
(58,915)
Shareholders' funds
(67,153)
(58,914)
For the year ending 30 April 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 5 August 2024 and were signed on its behalf by
P Panayiotou Director Company Registration No. 06878284
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Karpasi Food Imports Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Karpasi Food Imports Limited is a private company, limited by shares, registered in England and Wales, registration number 06878284. The registered office is 2 PAUL GARDENS, CROYDON, SURREY, CR0 5QL. The principal place of business is 18 Hallwick Road, London, N10 1AB, UK.
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.
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:
Plant & machinery
25% reducing balance basis
Motor vehicles
25% reducing balance basis
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Principal Activity
The principal activity of the Company is that of Wholesale Food Importers.
Dividends
The Director does not recommend the payment of any Dividends.
Going concern
The accounts have been drawn up on the going concern basis following the Director’s assessment of the company’s ability to trade for at least 12 months from the date these accounts have been approved. In conclusion, whilst there is some uncertainty, the Director does not believe there is a material uncertainty which casts significant doubt on the company’s ability to continue to trade.
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Karpasi Food Imports Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
14,180 
20,250 
34,430 
Disposals
- 
(3,750)
(3,750)
At 30 April 2024
14,180 
16,500 
30,680 
Depreciation
At 1 May 2023
6,766 
10,968 
17,734 
Charge for the year
1,854 
1,383 
3,237 
Surplus on revaluation
- 
(3,750)
(3,750)
At 30 April 2024
8,620 
8,601 
17,221 
Net book value
At 30 April 2024
5,560 
7,899 
13,459 
At 30 April 2023
7,414 
9,282 
16,696 
5
Inventories
2024 
2023 
£ 
£ 
Raw materials
24,500 
40,000 
24,500 
40,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
400 
398 
Other debtors
4,050 
4,050 
4,450 
4,448 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
29,387 
- 
Loans from directors
44,311 
69,422 
Accruals
- 
1,540 
73,698 
70,962 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
26,396 
36,806 
Obligations under finance leases and hire purchase contracts
10,275 
13,799 
36,671 
50,605 
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Karpasi Food Imports Limited Notes to the Accounts for the year ended 30 April 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares - P Panayiotou of £1 each
1 
1 
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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