Registered number
11372603
St Mary & Pope Kyrillos Ltd
Filleted Accounts
30 April 2024
St Mary & Pope Kyrillos Ltd
Registered number: 11372603
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 54,125 60,238
Current assets
Debtors 4 51,510 58,567
Cash at bank and in hand 19,971 17,235
71,481 75,802
Creditors: amounts falling due within one year 5 (72,719) (74,629)
Net current (liabilities)/assets (1,238) 1,173
Total assets less current liabilities 52,887 61,411
Creditors: amounts falling due after more than one year 6 (9,203) (17,924)
Net assets 43,684 43,487
Capital and reserves
Called up share capital 100 100
Profit and loss account 43,584 43,387
Shareholders' funds 43,684 43,487
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H Khalil Mr A Girgis
Director Director
Approved by the board on 2 January 2025
St Mary & Pope Kyrillos Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 25% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Furniture & equipment Total
£ £ £
Cost
At 1 May 2023 51,856 36,826 88,682
Additions - 2,423 2,423
At 30 April 2024 51,856 39,249 91,105
Depreciation
At 1 May 2023 12,965 15,479 28,444
Charge for the year 2,593 5,943 8,536
At 30 April 2024 15,558 21,422 36,980
Net book value
At 30 April 2024 36,298 17,827 54,125
At 30 April 2023 38,891 21,347 60,238
4 Debtors 2024 2023
£ £
Prepayments 9,510 13,567
Other debtors 42,000 45,000
51,510 58,567
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,443 9,672
Trade creditors 29,406 22,167
Amounts owed to group undertakings 6,417 432
VAT liability 8,807 9,061
Corporation tax payable 9,031 8,497
Other taxes and social security 348 -
Directors loan account 6,417 1,573
Net wages payable 2,726 1,444
Other creditors 124 21,783
72,719 74,629
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,203 17,924
The bank loan is unsecured and received under the Government's 'Bounce Back Loan' scheme.
7 Related party transactions
JulieAndrew Ltd (incorporated in the UK) that owns 50% of St Mary & Pope Kyrillos Ltd received dividends in the sum of £16,000 (2023: £40,000). Included within the creditors is an amount of £6,417 owed to JulieAndrew Ltd.
Mr A Girgis owns 25% of St Mary & Pope Kyrillos Ltd and received dividends in the sum of £8,000 (2023: £20,000). Included within the creditors is an amount of £6,417 owed to Mr A Girgis.
Ms M Volkova owns 25% of St Mary & Pope Kyrillos Ltd and received dividends in the sum of £8,000 (2023: £20,000).
8 Controlling party
The ultimate controlling parties are Mr H Khalil and Mr A Girgis. Their control comes by virtue of shareholdings, directorships and day to day running of the business.
9 Other information
St Mary & Pope Kyrillos Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22-23 New Steine
Brighton
East Sussex
England
BN2 1PD
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