Napangelos Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01329456 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NAPANGELOS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Hajiyianni

Ms K Hajiyianni

Ms K E Hajiyianni

Mr C Hajiyianni

SECRETARY:

Ms K Hajiyianni

REGISTERED OFFICE:

New Continental Hotel

Millbay Road

Plymouth

Devon

PL1 3LD

REGISTERED NUMBER:

01329456 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

BANKERS:

National Westminster Bank Plc

52 Royal Parade

Plymouth

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

3,166,284

3,144,779

3,166,284

3,144,779

CURRENT ASSETS

Stocks

6

9,300

9,500

Debtors

7

179,278

219,046

Cash at bank

7,865

56,828

196,443

285,374

CREDITORS

Amounts falling due within one year

8

274,134

228,980

NET CURRENT (LIABILITIES)/ASSETS

(77,691

)

56,394

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,088,593

3,201,173

CREDITORS

Amounts falling due after more than one year

9

1,484,635

1,564,711

NET ASSETS

1,603,958

1,636,462

CAPITAL AND RESERVES

Called up share capital

12

108,333

Share premium

309,639

Capital reserve

23,546

Retained earnings

1,162,440

1,194,944

SHAREHOLDERS' FUNDS

1,603,958

1,636,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2025 and were signed on its behalf by:

Mr M Hajiyianni - Director

1.	STATUTORY INFORMATION

Napangelos 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net income from the sales of services excluding value added tax where applicable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1982, is being fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings - 5% on reducing balance

Depreciation of freehold property and improvements

The freehold property is held for long-term investment and is maintained on a regular basis. The directors therefore do not provide depreciation on either the property or its improvements as they believe that the values are maintained. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary as current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation.

Stocks

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2024 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

502,900

AMORTISATION

At 1 April 2024

and 31 March 2025

502,900

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

fittings

Totals

£

COST

At 1 April 2024

308,593

1,751,832

3,897,010

5,957,435

Additions

-

79,708

At 31 March 2025

308,593

1,751,832

3,976,718

6,037,143

DEPRECIATION

At 1 April 2024

-

2,812,656

Charge for year

-

58,203

At 31 March 2025

-

2,870,859

NET BOOK VALUE

At 31 March 2025

308,593

1,751,832

1,105,859

3,166,284

At 31 March 2024

308,593

1,751,832

1,084,354

3,144,779

6.

STOCKS

31.3.25

31.3.24

£

Stocks

9,300

9,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

11,034

15,927

Amounts due from

related companies

168,244

203,119

179,278

219,046

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts (see note 10)

50,000

Trade creditors

80,968

21,065

Tax

68,539

60,476

Social security and other taxes

69,627

87,439

Accrued expenses

5,000

10,000

274,134

228,980

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans (see note 10)

1,484,635

1,564,711

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,009,635

1,089,711

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

Amounts falling due within one year or on demand:

Bank loans

50,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

475,000

Amounts falling due in more than five years:

31.3.25

31.3.24

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,009,635

1,089,711

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank loans

1,534,635

1,614,711

These obligations are secured by a fixed charge on the freehold property of the company.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

108,333

Ordinary

£1

108,333

13.	RELATED PARTY DISCLOSURES

The company is under the control of the directors and there family who together own 100% of the issued ordinary share capital.