Registration number: 02699331

Michaelides Warner & Co Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 8

Michaelides Warner & Co Limited

Company Information

Directors

Mr Paul Michaelides Mr Samuel Michaelides Mr Andrew Michaelides

Registered office

102 Fulham Palace Road London Greater London W6 9PL

Accountants

Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL

Michaelides Warner & Co Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Michaelides Warner & Co Limited

(Registration number: 02699331)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Current assets
Debtors	5	157,826	144,186
Cash at bank and in hand		21,416	13,473
		179,242	157,659
Creditors: Amounts falling due within one year	6	(104,707)	(63,337)
Total assets less current liabilities		74,535	94,322
Provisions for liabilities		(20,639)	(18,390)
Net assets		53,896	75,932
Capital and reserves
Called up share capital	7	106	106
Retained earnings		53,790	75,826
Shareholders' funds		53,896	75,932

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476 ; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:
 

.........................................

Mr Paul Michaelides
Director

Michaelides Warner & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
102 Fulham Palace Road
London
Greater London
W6 9PL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Michaelides Warner & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 taxable income.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

The cost of work in progress comprises direct labour costs that have been incurred. At each reporting date, work in progress is assessed for impairment with any loss recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Michaelides Warner & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 6).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	249,611	249,611
At 31 March 2025	249,611	249,611
Amortisation
At 1 April 2024	249,611	249,611
At 31 March 2025	249,611	249,611
Carrying amount
At 31 March 2025	-	-

Michaelides Warner & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	43,409	45,479
Other debtors	114,417	98,707
	157,826	144,186

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	53,230	51,572
Other creditors	51,477	11,765
	104,707	63,337