FT Tech Europe Limited Company accounts

FT Tech Europe Limited Company accounts

FT TECH EUROPE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06423374
FT Tech Europe Limited
Unaudited Financial Statements
30 June 2018
FT Tech Europe Limited
Financial Statements
Year ended 30 June 2018
Contents
Pages
Officers and professional advisers
1
Directors' report
2
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings (including profit and loss account)
4
Balance sheet
5
Notes to the financial statements
6
FT Tech Europe Limited
Officers and Professional Advisers
The board of directors
Dr S Kapartis-Executive Chairman
Mr P Elgar
Dr S J Norton
Registered office
Sunbury House
Brooklands Close
Sunbury-on-Thames
TW11 7DX
Accountants
Stephenson Smart (East Anglia) Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 1HJ
FT Tech Europe Limited
Directors' Report
Year ended 30 June 2018
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2018 .
Directors
The directors who served the company during the year were as follows:
Dr S Kapartis-Executive Chairman
Mr P Elgar
Dr S J Norton
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 March 2019 and signed on behalf of the board by:
Dr S Kapartis-Executive Chairman
Director
Registered office:
Sunbury House
Brooklands Close
Sunbury-on-Thames
TW11 7DX
FT Tech Europe Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of FT Tech Europe Limited
Year ended 30 June 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FT Tech Europe Limited for the year ended 30 June 2018, which comprise the statement of income and retained earnings (including profit and loss account), balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of FT Tech Europe Limited, as a body, in accordance with the terms of our engagement letter dated 14 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of FT Tech Europe Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FT Tech Europe Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that FT Tech Europe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of FT Tech Europe Limited. You consider that FT Tech Europe Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of FT Tech Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Stephenson Smart (East Anglia) Limited Chartered Accountants
22-26 King Street King's Lynn Norfolk PE30 1HJ
14 March 2019
FT Tech Europe Limited
Statement of Income and Retained Earnings (Including Profit and Loss Account)
Year ended 30 June 2018
2018
2017
Note
£
£
Administrative expenses
60
64
----
----
Operating loss
( 60)
( 64)
----
----
Loss before taxation
( 60)
( 64)
Tax on loss
–
–
----
----
Loss for the financial year and total comprehensive income
( 60)
( 64)
----
----
Retained losses at the start of the year
( 315)
( 251)
----
----
Retained losses at the end of the year
( 375)
( 315)
----
----
All the activities of the company are from continuing operations.
FT Tech Europe Limited
Balance Sheet
30 June 2018
2018
2017
Note
£
£
£
Current assets
Cash at bank and in hand
1,202,475
1,202,535
Creditors: amounts falling due within one year
4
1,200,000
1,200,000
------------
------------
Net current assets
2,475
2,535
-------
-------
Total assets less current liabilities
2,475
2,535
-------
-------
Capital and reserves
Called up share capital
2,850
2,850
Profit and loss account
( 375)
( 315)
-------
-------
Shareholders funds
2,475
2,535
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 March 2019 , and are signed on behalf of the board by:
Dr S Kapartis-Executive Chairman
Director
Company registration number: 06423374
FT Tech Europe Limited
Notes to the Financial Statements
Year ended 30 June 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sunbury House, Brooklands Close, Sunbury-on-Thames, TW11 7DX.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .
4. Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
1,200,000
1,200,000
------------
------------
5. Related party transactions
At the 30 June 2018 the company owed a company controlled by the directors £ 1,200,000 (2017 £1,200,000), included in other creditors.