REGISTERED NUMBER: 01491067 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

St. Mickalos Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Timinis

SECRETARY:

M Timinis

REGISTERED OFFICE:

30 Wanless Road

London

SE24 0HW

REGISTERED NUMBER:

01491067 (England and Wales)

ACCOUNTANTS:

CWF & Partners Ltd

Chartered Accountants

Freedman House

Christopher Wren Yard

117 High Street

Croydon

Surrey

CR0 1QG

FIXED ASSETS

Tangible assets

5

89,627

109,025

Investments

6

-

15,000

89,627

124,025

CURRENT ASSETS

Stocks

495,305

422,989

Debtors

7

471,826

493,250

Cash at bank

620

35,790

967,751

952,029

CREDITORS

Amounts falling due within one year

8

1,175,719

1,016,257

NET CURRENT LIABILITIES

(207,968

)

(64,228

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(118,341

)

59,797

CREDITORS

Amounts falling due after more than one year

9

(60,000

)

(100,000

)

PROVISIONS FOR LIABILITIES

11

(22,407

)

(27,256

)

NET LIABILITIES

(200,748

)

(67,459

)

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

(200,848

)

(67,559

)

SHAREHOLDERS' FUNDS

(200,748

)

(67,459

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 August 2025 and were signed by:

M Timinis - Director

1.	STATUTORY INFORMATION

St. Mickalos Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

5% on cost

Plant and machinery

-

12% on reducing balance

Fixtures and fittings

-

12% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are accounted for on a first in first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Fixed assets investments are stated at cost less provision for permanent diminution in value.

Going concern

At 30 September 2024 the company had net current liabilities of £207,968 and net liabilities of £200,748. These liabilities have arisen due to the company entering into an onerous oil contract to secure the supply of oil due to shortage issues in the industry during the previous period. However, fluctuations in oil prices resulted in the company making losses on the sale of this oil. The company has fulfilled and completed the onerous oil contract in December 2023 and has returned to making month on month profits from January 2024 to date.

Included in current liabilities were amounts due to the directors and shareholders totalling £41,490 and a bank overdraft of £357,386. The directors and shareholders are committed to providing financial support to the company and are not seeking repayment of the debt. This, together with the use of the bank overdraft facility and the projected profits forecasts, has allowed the director to assess that the company is a going concern and will be able to pay its debts as and when they fall due for at least the next twelve months.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2023

392,867

86,250

43,274

145,530

667,921

Additions

-

2,016

-

-

2,016

At 30 September 2024

392,867

88,266

43,274

145,530

669,937

DEPRECIATION

At 1 October 2023

392,867

59,405

24,634

81,990

558,896

Charge for year

-

3,463

2,237

15,714

21,414

At 30 September 2024

392,867

62,868

26,871

97,704

580,310

NET BOOK VALUE

At 30 September 2024

-

25,398

16,403

47,826

89,627

At 30 September 2023

-

26,845

18,640

63,540

109,025

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2023

15,000

Disposals

(15,000

)

At 30 September 2024

-

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

15,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

461,964

405,725

Other debtors

9,862

87,525

471,826

493,250

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts

357,386

208,343

Hire purchase contracts

-

16,915

Trade creditors

755,835

714,563

Taxation and social security

12,174

25,819

Other creditors

50,324

50,617

1,175,719

1,016,257

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans

60,000

100,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Bank overdrafts

317,386

168,343

Bank loans

100,000

140,000

417,386

308,343

11.	PROVISIONS FOR LIABILITIES

30.9.24

30.9.23

£

£

Deferred tax

22,407

27,256

Deferred

tax

£

Balance at 1 October 2023

27,256

Credit to Income Statement during year

(4,849

)

Balance at 30 September 2024

22,407

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

30

A Ordinary

£1

30

30

26

B Ordinary

£1

26

26

24

C Ordinary

£1

24

24

10

D Ordinary

£1

10

10

10

E Ordinary

£1

10

10

100

100