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BALAXIS CONSULTING LIMITED

Registered Number
10207673
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

BALAXIS CONSULTING LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

PILAVAKIS, Alexis Demitrios Christopher

Registered Address

20-22 Wenlock Road
London
N1 7GU

Registered Number

10207673 (England and Wales)
BALAXIS CONSULTING LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets333260
33260
Current assets
Debtors4-300
-300
Creditors amounts falling due within one year5(7,616)(4,842)
Net current assets (liabilities)(7,616)(4,542)
Total assets less current liabilities(7,284)(4,482)
Provisions for liabilities6(22)(22)
Net assets(7,306)(4,504)
Capital and reserves
Called up share capital11
Profit and loss account(7,307)(4,505)
Shareholders' funds(7,306)(4,504)
The financial statements were approved and authorised for issue by the Director on 19 February 2025, and are signed on its behalf by:
PILAVAKIS, Alexis Demitrios Christopher
Director
Registered Company No. 10207673
BALAXIS CONSULTING LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
Turnover policy
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.
Revenue from sale of goods
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 23285285
Additions299299
At 31 May 24584584
Depreciation and impairment
At 01 June 23225225
Charge for year2727
At 31 May 24252252
Net book value
At 31 May 24332332
At 31 May 236060
4.Debtors: amounts due within one year

2024

2023

££
Other debtors-300
Total-300
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.
5.Creditors: amounts due within one year

2024

2023

££
Other creditors7,0614,313
Accrued liabilities and deferred income555529
Total7,6164,842
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.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2222
Total2222
7.Related party transactions
At the balance sheet date the company owed £7,061 (2023 : £4,313 ) to the director which is an interest free loan with no fixed date for repayment.