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Registered number: 08808676














S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
REGISTERED NUMBER:08808676

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
7,196
9,355

Tangible assets
 5 
3,570
6,547

  
10,766
15,902

Current assets
  

Debtors: amounts falling due within one year
 6 
117,229
324,429

Cash at bank and in hand
  
431,589
383,681

  
548,818
708,110

  

Creditors: amounts falling due within one year
 7 
(160,647)
(220,241)

Net current assets
  
 
 
388,171
 
 
487,869

Creditors: amounts falling due after more than one year
 8 
(13,531)
(55,043)

  

Net assets
  
385,406
448,728


Capital and reserves
  

Called up share capital 
 10 
1,030
1,030

Profit and loss account
  
384,376
447,698

  
385,406
448,728


Page 1

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
REGISTERED NUMBER:08808676
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 March 2025.




S Malliaroudakis
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

S.A. Malliaroudakis Maritime (UK) Limited is a limited liability Company registered in England and Wales. Its registered office address is 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
The principal activity of the Company during the year was that of the provision of specialist software services.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of services provided during the year, exclusive of Value Added Tax.
Revenue is recognised when the services are provided.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Basic financial instruments

Enter text here - user input
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.

Page 4

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. 

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Developing expenses

£



Cost


At 1 July 2023
14,395



At 30 June 2024

14,395



Amortisation


At 1 July 2023
5,040


Charge for the year on owned assets
2,159



At 30 June 2024

7,199



Net book value



At 30 June 2024
7,196



At 30 June 2022
9,355



Page 6

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
3,684
12,516
16,200


Additions
462
-
462



At 30 June 2024

4,146
12,516
16,662



Depreciation


At 1 July 2023
1,551
8,102
9,653


Charge for the year on owned assets
1,123
2,316
3,439



At 30 June 2024

2,674
10,418
13,092



Net book value



At 30 June 2024
1,472
2,098
3,570



At 30 June 2022
2,133
4,414
6,547

Page 7

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2022
£
£


Trade debtors
116,602
182,365

Other debtors
1
140,025

Prepayments and accrued income
626
2,039

117,229
324,429



7.


Creditors: Amounts falling due within one year

2024
2022
£
£

Bank loans
28,000
28,000

Trade creditors
47,644
47,385

Other taxation and social security
83,162
65,589

Other creditors
1,841
5,106

Accruals and deferred income
-
74,161

160,647
220,241



8.


Creditors: Amounts falling due after more than one year

2024
2022
£
£

Bank loans
13,531
55,043


Page 8

 
S.A. MALLIAROUDAKIS MARITIME (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2022
£
£

Amounts falling due within one year

Bank loans
28,000
28,000


Amounts falling due 2-5 years

Bank loans
13,532
55,043


41,532
83,043


The bank loans are secured by a fixed and floating charge over the assets of the Company.


10.


Share capital

2024
2022
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1 each
1,000
1,000
10 (2023 - 10) Ordinary A shares of £1 each
10
10
10 (2023 - 10) Ordinary B shares of £1 each
10
10
10 (2023 - 10) Ordinary C shares of £1 each
10
10

1,030

1,030


 
Page 9