Michael Anastassiades Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08119375

Michael Anastassiades Limited

Filleted Unaudited Financial Statements

29 December 2024

Michael Anastassiades Limited

Financial Statements

Year ended 29 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Michael Anastassiades Limited

Statement of Financial Position

29 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	6	140,037	109,465

Current assets

Stocks		801,301	651,826
Debtors	7	662,542	686,918
Cash at bank and in hand		913,628	955,130
		------------	------------
		2,377,471	2,293,874

Creditors: amounts falling due within one year	8	491,644	454,835
		------------	------------
Net current assets		1,885,827	1,839,039
		------------	------------
Total assets less current liabilities		2,025,864	1,948,504
		------------	------------
Net assets		2,025,864	1,948,504
		------------	------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	2,025,863	1,948,503
	------------	------------
Shareholders funds	2,025,864	1,948,504
	------------	------------

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 year ending 29 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 year in question in accordance with section 476 ;

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

Michael Anastassiades Limited

Statement of Financial Position (continued)

29 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr G M Anastassiades
Director

Company registration number: 08119375

Michael Anastassiades Limited

Notes to the Financial Statements

Year ended 29 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 Unit 1 Chaters Close, Tipton, West Midlands, DY4 8JQ, United Kingdom.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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.

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:

Leasehold property improvements	-	2% straight line
Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

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 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).

5. Intangible assets

	Goodwill
	£
Cost
At 30 December 2023 and 29 December 2024	60,000
	--------
Amortisation
At 30 December 2023 and 29 December 2024	60,000
	--------
Carrying amount
At 29 December 2024	–
	--------
At 29 December 2023	–
	--------

6. Tangible assets

	Leasehold property improvements	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 30 December 2023	117,480	71,077	1,084	189,641
Additions	–	39,531	9,197	48,728
Disposals	–	( 8,110)	–	( 8,110)
	---------	---------	--------	---------
At 29 December 2024	117,480	102,498	10,281	230,259
	---------	---------	--------	---------
Depreciation
At 30 December 2023	26,985	52,571	620	80,176
Charge for the year	2,350	10,671	668	13,689
Disposals	–	( 3,643)	–	( 3,643)
	---------	---------	--------	---------
At 29 December 2024	29,335	59,599	1,288	90,222
	---------	---------	--------	---------
Carrying amount
At 29 December 2024	88,145	42,899	8,993	140,037
	---------	---------	--------	---------
At 29 December 2023	90,495	18,506	464	109,465
	---------	---------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	24,151	47,080
Other debtors	638,391	639,838
	---------	---------
	662,542	686,918
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	405,012	341,174
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,866	2,294
Corporation tax	7,909	18,232
Amex	3,126	10,482
Other creditors	73,731	82,653
	---------	---------
	491,644	454,835
	---------	---------

9. Related party transactions

At the year end the company was owed £554,736 (2023: £390,194) by companies associated under common control.