Entrepreneurs Organisation Europe Limited - Period Ending 2020-03-31

Entrepreneurs Organisation Europe Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Entrepreneurs Organisation Europe Limited

Company Information

Directors

Mr Benjamin Charles Peachey Mr Russell Elton Garvey

Registered office

Suite LG 11 St James's Place London SW1A 1NP

Accountants

Charter Tax Consulting Limited 11 St. James's Place London SW1A 1NP

Entrepreneurs Organisation Europe Limited

(Registration number: 10069314)
Balance Sheet as at 31 March 2020

	Note	2020 £	2019 £
Current assets
Debtors	3	60,660	-
Cash at bank and in hand		13,386	138,577
		74,046	138,577
Creditors: Amounts falling due within one year	4	(117,548)	(170,512)
Net liabilities		(43,502)	(31,935)
Capital and reserves
Profit and loss account		(43,502)	(31,935)
Total equity		(43,502)	(31,935)

For the financial year ending 31 March 2020 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 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 August 2020 and signed on its behalf by:
 

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

Mr Russell Elton Garvey
Director

Entrepreneurs Organisation Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

1	General information

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

The address of its registered office is:
Suite LG
11 St James's Place
London
SW1A 1NP

These financial statements were authorised for issue by the Board on 3 August 2020.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements have been prepared and presented in UK Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis due to the ongoing support of the founding member. The directors are currently reviewing the trading position of the company but it has been confirmed the member will continue to support the company for at least the next 12 months.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Entrepreneurs Organisation Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

Debtors

Debtors comprise of amounts due from related parties for payments made on behalf of the entity in the ordinary course of business.

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Debtors

	Note	2020 £	2019 £
Amounts due from founding member	5	60,660	-
		60,660	-

4

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Trade creditors	480	480
Accruals and deferred income	117,068	111,703
Other creditors	-	58,329
	117,548	170,512

Entrepreneurs Organisation Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

5	Related party transactions

Summary of transactions with other related parties

Entrepreneurs Organization (EO) - Ultimate Beneficial Owner
 During the period the company made payments for Entrepreneurs Organization totalling £168,989 (2019 £158,257) and received funds of £50,000 from Entrepreneurs Organization (2019 £Nil). At the year end the amount due from Entrepreneurs Organization was £60,660 (2019 -£58,329).


 There were no terms attached to the loan amounts provided.
 

Loans from related parties

2020	Other related parties £	Total £
At start of period	58,329	58,329
Advanced	50,000	50,000
Repaid	(168,989)	(168,989)
At end of period	(60,660)	(60,660)

2019	Other related parties £	Total £
At start of period	516,586	516,586
Repaid	(458,257)	(458,257)
At end of period	58,329	58,329