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COMPANY REGISTRATION NUMBER: 10895643
Mavros Safaris Limited
Filleted Unaudited Financial Statements
For the period 1 September 2023 to
31 December 2024
Mavros Safaris Limited
Statement of Financial Position
31 December 2024
31 Dec 24
31 Aug 23
Note
£
£
Fixed assets
Tangible assets
5
1,388
452
Current assets
Debtors
6
1,148,287
449,241
Cash at bank and in hand
103,038
134,351
------------
---------
1,251,325
583,592
Creditors: amounts falling due within one year
7
1,201,016
528,851
------------
---------
Net current assets
50,309
54,741
--------
--------
Total assets less current liabilities
51,697
55,193
Creditors: amounts falling due after more than one year
8
9,135
22,685
--------
--------
Net assets
42,562
32,508
--------
--------
Capital and reserves
Called up share capital
5,000
5,000
Profit and loss account
37,562
27,508
--------
--------
Shareholders funds
42,562
32,508
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mavros Safaris Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
A Mavros
Director
Company registration number: 10895643
Mavros Safaris Limited
Notes to the Financial Statements
Period from 1 September 2023 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 104-106 Fulham Road, SW3 6HS, London.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis and the challenges presented by current economic climate, the directors are satisfied that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the accounts.
Revenue recognition
Turnover represents the invoiced value, net of Value Added Tax, of services provided to customers. Turnover is wholly derived from the principal activity of the business.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Office Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 September 2023
7,797
7,797
Additions
1,456
1,456
-------
-------
-------
At 31 December 2024
1,456
7,797
9,253
-------
-------
-------
Depreciation
At 1 September 2023
7,345
7,345
Charge for the period
69
451
520
-------
-------
-------
At 31 December 2024
69
7,796
7,865
-------
-------
-------
Carrying amount
At 31 December 2024
1,387
1
1,388
-------
-------
-------
At 31 August 2023
452
452
-------
-------
-------
6. Debtors
31 Dec 24
31 Aug 23
£
£
Trade debtors
520,486
439,134
Other debtors
627,801
10,107
------------
---------
1,148,287
449,241
------------
---------
7. Creditors: amounts falling due within one year
31 Dec 24
31 Aug 23
£
£
Bank loans and overdrafts
10,648
10,648
Trade creditors
439,312
Accruals and deferred income
748,917
511,519
Corporation tax
2,139
2,471
Director loan accounts
4,213
------------
---------
1,201,016
528,851
------------
---------
8. Creditors: amounts falling due after more than one year
31 Dec 24
31 Aug 23
£
£
Bank loans and overdrafts
9,135
22,685
-------
--------
The company has a bounce back loan of £50,000 which expires between one and five years. It attracts a rate of 3.5% above base rate and is guaranteed by a personal guarantee by the directors.
9. Director's advances, credits and guarantees
On 31 August 2024 the company owed director £ Nil ( 2023: £4,213 ) .