Company Registration No. 03290255 (England and Wales)
Hellenic (UK) Limited
Unaudited accounts
for the year ended 31 March 2024
Hellenic (UK) Limited
Unaudited accounts
Contents
Hellenic (UK) Limited
Company Information
for the year ended 31 March 2024
Company Number
03290255 (England and Wales)
Registered Office
4 The Quadrant
Richmond
TW9 1BP
England
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Hellenic (UK) Limited
Statement of financial position
as at 31 March 2024
Tangible assets
173,673
175,681
Debtors
1,837,490
1,892,408
Cash at bank and in hand
752,465
646,889
Creditors: amounts falling due within one year
(1,895,044)
(1,898,869)
Net current assets
704,911
650,428
Net assets
878,584
826,109
Called up share capital
100
100
Profit and loss account
878,484
826,009
Shareholders' funds
878,584
826,109
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
Lady H St John
Director
Company Registration No. 03290255
Hellenic (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
Hellenic (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 03290255. The registered office is 4 The Quadrant, Richmond, TW9 1BP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in GBP rounded to the nearest £.
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 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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
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. Stocks held relate to medical supplies.
Hellenic (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
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 year 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 asset reflects 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.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
162,293
130,359
292,652
At 31 March 2024
162,293
130,359
292,652
At 1 April 2023
-
116,971
116,971
Charge for the year
-
2,008
2,008
At 31 March 2024
-
118,979
118,979
At 31 March 2024
162,293
11,380
173,673
At 31 March 2023
162,293
13,388
175,681
Finished goods
10,000
10,000
Hellenic (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Other debtors
1,837,290
1,892,408
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Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
1,796,998
1,797,172
Taxes and social security
85,776
95,608
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
32,400
32,400
Later than one year and not later than five years
32,400
64,800
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
The loan is repayable on demand and interest is being charged at the HMRC official rate.
1,386,750
715,064
715,218
1,386,596
1,386,750
715,064
715,218
1,386,596
The Company's immediate and ultimate parent undertaking is Hellenic Holdings Limited, a Company incorporated in England with the company's number 12359805.
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Average number of employees
During the year the average number of employees was 2 (2023: 2).