Acorah Software Products - Accounts Production 15.0.600 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 08678484 Mr Eleftherios Fantis Mr Savvas Fantis Mrs Christina Fantis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08678484 2023-09-30 08678484 2024-09-30 08678484 2023-10-01 2024-09-30 08678484 frs-core:CurrentFinancialInstruments 2024-09-30 08678484 frs-core:Non-currentFinancialInstruments 2024-09-30 08678484 frs-core:FurnitureFittings 2024-09-30 08678484 frs-core:FurnitureFittings 2023-10-01 2024-09-30 08678484 frs-core:FurnitureFittings 2023-09-30 08678484 frs-core:ShareCapital 2024-09-30 08678484 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 08678484 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08678484 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 08678484 frs-bus:SmallEntities 2023-10-01 2024-09-30 08678484 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08678484 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08678484 frs-bus:Director1 2023-10-01 2024-09-30 08678484 frs-bus:Director2 2023-10-01 2024-09-30 08678484 frs-bus:Director3 2023-10-01 2024-09-30 08678484 frs-countries:EnglandWales 2023-10-01 2024-09-30 08678484 2022-09-30 08678484 2023-09-30 08678484 2022-10-01 2023-09-30 08678484 frs-core:CurrentFinancialInstruments 2023-09-30 08678484 frs-core:Non-currentFinancialInstruments 2023-09-30 08678484 frs-core:ShareCapital 2023-09-30 08678484 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 08678484
Fantis's Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Sempar Accountancy and Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08678484
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,130 5,098
4,130 5,098
CURRENT ASSETS
Stocks 5 6,860 6,860
Debtors 6 3,134 22,981
Cash at bank and in hand 69,102 58,596
79,096 88,437
Creditors: Amounts Falling Due Within One Year 7 (69,846 ) (74,630 )
NET CURRENT ASSETS (LIABILITIES) 9,250 13,807
TOTAL ASSETS LESS CURRENT LIABILITIES 13,380 18,905
Creditors: Amounts Falling Due After More Than One Year 8 (7,827 ) (17,500 )
NET ASSETS 5,553 1,405
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 5,453 1,305
SHAREHOLDERS' FUNDS 5,553 1,405
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For the year ending 30 September 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Eleftherios Fantis
Director
Mr Savvas Fantis
Director
Mrs Christina Fantis
Director
30 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fantis's Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08678484 . The registered office is 905 Leek New Road, Stoke On Trent, ST2 7HQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 13)
12 13
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 October 2023 23,479
Additions 748
As at 30 September 2024 24,227
Depreciation
As at 1 October 2023 18,381
Provided during the period 1,716
As at 30 September 2024 20,097
Net Book Value
As at 30 September 2024 4,130
As at 1 October 2023 5,098
5. Stocks
2024 2023
£ £
Stock - 6,860
Finished goods 6,860 -
6,860 6,860
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,594 -
Prepayments and accrued income - 1,416
Other debtors 385 5,391
Directors' loan accounts 1,155 16,174
3,134 22,981
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,285 15,570
Bank loans and overdrafts 9,673 10,000
Corporation tax 17,685 16,632
Other taxes and social security 470 128
VAT 28,771 27,043
Other creditors 146 270
Accruals and deferred income 3,816 4,987
69,846 74,630
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,827 17,500
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 17,500 27,500
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are loans to the director totalling £1,155 (2023 - £16,174). The loans are unsecured, repayable on demand and is interest free.
Dividends paid to directors £58,000 (2023: £82,500)
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