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Registered Number: 14106727
England and Wales

 

 

 

KORIFI LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Directors Nikolakis Kallis
Nikolaos Mylonakis
Athanasios Sotiriou
Registered Number 14106727
Registered Office 124 City Road
City Road
London
EC1V 2NX
Accountants Best Accountancy Services Ltd
Harrogate Business Centre, Hammerain House
Hookstone Avenue
Harrogate
North Yorkshire
HG2 8ER
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1,030    1,159 
Tangible fixed assets 4 76   
1,106    1,159 
Current assets      
Stocks 5 8,340   
Cash at bank and in hand 8,001    355 
16,341    355 
Creditors: amount falling due within one year 6 (36,014)   (14,246)
Net current assets (19,673)   (13,891)
 
Total assets less current liabilities (18,567)   (12,732)
Net assets (18,567)   (12,732)
 

Capital and reserves
     
Called up share capital 900    900 
Profit and loss account (19,467)   (13,632)
Shareholders' funds (18,567)   (12,732)
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 12 February 2025 and were signed on its behalf by:


-------------------------------
Nikolakis Kallis
Director
-------------------------------
Nikolaos Mylonakis
Director
-------------------------------
Athanasios Sotiriou
Director
2
General Information
Korifi Ltd is a private company, limited by shares, registered in England and Wales, registration number 14106727, registration address 124 City Road, City Road, London, EC1V 2NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company will experience good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, through their continued support. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 01 June 2023 1,288    1,288 
Additions  
Disposals  
At 31 May 2024 1,288    1,288 
Amortisation
At 01 June 2023 129    129 
Charge for year 129    129 
On disposals  
At 31 May 2024 258    258 
Net book values
At 31 May 2024 1,030    1,030 
At 31 May 2023 1,159    1,159 


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 June 2023  
Additions 114    114 
Disposals  
At 31 May 2024 114    114 
Depreciation
At 01 June 2023  
Charge for year 38    38 
On disposals  
At 31 May 2024 38    38 
Net book values
Closing balance as at 31 May 2024 76    76 
Opening balance as at 01 June 2023  


5.

Stocks

2024
£
  2023
£
Stocks 8,340   
8,340   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors (1)  
Other Creditors 36,015    14,246 
36,014    14,246 

7.

Advances and Credits



Athanasios Sotiriou, Nikolakis Kallis, Nikolaos Mylonakis
The Directors collectively advanced £21,709 to the Company in the period ended 31st May 2024. the loan was interest free and repayable on demand.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Athanasios Sotiriou, Nikolakis Kallis, Nikolaos Mylonakis13,646 21,709 35,355 
1364621709000035355
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Athanasios Sotiriou, Nikolakis Kallis, Nikolaos Mylonakis13,646 13,646 
013646000013646
3