THE UKRAINE OPPORTUNITY TRUST LIMITED
THE UKRAINE OPPORTUNITY TRUST LIMITED
THE UKRAINE OPPORTUNITY TRUST LIMITED
Company Registration Number:
05537892 (England and Wales)
Unaudited statutory accounts for the year ended 31 December 2019
Period of accounts
Start date: 22 January 2019
End date: 31 December 2019
THE UKRAINE OPPORTUNITY TRUST LIMITED
Contents of the Financial Statements
for the Period Ended 31 December 2019
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes |
THE UKRAINE OPPORTUNITY TRUST LIMITED
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2019
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
22 January 2019 to 31 December 2019
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
THE UKRAINE OPPORTUNITY TRUST LIMITED
Profit And Loss Account
for the Period Ended
| 31 December 2019 | 21 January 2019 | |
|---|---|---|
| | £ | £ |
| Administrative expenses: | ( | ( |
| Operating profit(or loss): | ( | ( |
| Interest receivable and similar income: | | |
| Profit(or loss) before tax: | ( | ( |
| Profit(or loss) for the financial year: | ( | ( |
THE UKRAINE OPPORTUNITY TRUST LIMITED
Balance sheet
As at
| Notes | 31 December 2019 | 21 January 2019 | |
|---|---|---|---|
| | £ | £ | |
| Fixed assets | |||
| Investments: | 3 | | |
| Total fixed assets: | | | |
| Current assets | |||
| Debtors: | 4 | | |
| Cash at bank and in hand: | | | |
| Total current assets: | | | |
| Creditors: amounts falling due within one year: | 5 | ( | ( |
| Net current assets (liabilities): | | | |
| Total assets less current liabilities: | | | |
| Accruals and deferred income: | | | |
| Total net assets (liabilities): | | | |
| Capital and reserves | |||
| Called up share capital: | | | |
| Share premium account: | | | |
| Other reserves: | | | |
| Profit and loss account: | | ( | |
| Total Shareholders' funds: | | |
The notes form part of these financial statements
THE UKRAINE OPPORTUNITY TRUST LIMITED
Balance sheet statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
THE UKRAINE OPPORTUNITY TRUST LIMITED
Notes to the Financial Statements
for the Period Ended 31 December 2019
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Valuation information and policy
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. The Company holds financial instruments in the form of cash, trade payables and investments in ordinary shares.Initial measurementFinancial instruments are initially measured at the transaction price which includes transaction cost.Subsequent measurementAt the end of each reporting period the Company measures its financial assets are at cost less impairment. Financial liabilities are measured at amortised cost using the effective interest method. The amortised cost of a financial liability is the amount at which the financial liability is measured on initial recognition minus theprincipal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount. Other accounting policies
The accounting policies which follow set out those policies which apply in preparing the Financial Statements for the period 22 January 2019 to 31 December 2019 (“the financial period”).a) Going concernDuring the period a distribution of 9.5 US cents per share was paid to Shareholders, leaving sufficient cash to cover the future estimated expenses of the Company for three years, after which the future of the Company will be reconsidered by the Board. Accordingly, the financial statements have been presented on a going concern basis.b) Functional and presentational currencyThe financial statements are presented in US Dollars. All values are rounded to the nearest thousand US Dollars (US$’000) except where otherwise indicated.c) Foreign currency transactionsThe currency of the primary economic environment in which the Company operates (the functional currency) is US Dollars which is also the presentational currency. This was adopted as this is the major currency in which the majority of transactions are enacted. Transactions denominated in foreign currencies are translated intoUS Dollars at the rates of exchange ruling at the date of the transaction.Monetary assets and liabilities are converted to US Dollars at the rates of exchange ruling at the financial period end date. Exchange gains and losses relating to capital items are treated as components of capital elements of Other Comprehensive Income. Realised and unrealised exchange gains and losses on non-capitalitems are taken to the Statement of Comprehensive Income in the period in which they arise.
THE UKRAINE OPPORTUNITY TRUST LIMITED
Notes to the Financial Statements
for the Period Ended 31 December 2019
-
2. Employees
31 December 2019 21 January 2019 Average number of employees during the period 0 0
THE UKRAINE OPPORTUNITY TRUST LIMITED
Notes to the Financial Statements
for the Period Ended 31 December 2019
3. Fixed assets investments note
Impairment of financial assets measured at costRecognitionAt the end of each reporting period the Company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost. If there is objective evidence of impairment, the Company shall recognise an impairment loss in profit or loss immediately.Evidence of impairment include significant changes with an adverse effect that have taken place in the technological, market, economic or legal environment in which the issuer operates.MeasurementThe Company shall measure an impairment loss on financial assets measured at cost as the difference between the asset’s carrying amount and the best estimate (which will necessarily be an approximation) ofthe amount (which might be zero) that the entity would receive for the asset if it were to be sold at the reporting date.ReversalIf, in a subsequent period, the amount of an impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the Company shall reverse thepreviously recognised impairment loss either directly or by adjusting an allowance account. The reversal shall not result in a carrying amount of the financial asset (net of any allowance account) that exceeds what thecarrying amount would have been had the impairment not previously been recognised. The entity shall recognise the amount of the reversal in profit or loss immediately.
THE UKRAINE OPPORTUNITY TRUST LIMITED
Notes to the Financial Statements
for the Period Ended 31 December 2019
4. Debtors
| 31 December 2019 | 21 January 2019 | |
|---|---|---|
| £ | £ | |
| Other debtors | | |
| Total | | |
THE UKRAINE OPPORTUNITY TRUST LIMITED
Notes to the Financial Statements
for the Period Ended 31 December 2019
5. Creditors: amounts falling due within one year note
| 31 December 2019 | 21 January 2019 | |
|---|---|---|
| £ | £ | |
| Trade creditors | | |
| Accruals and deferred income | | |
| Total | | |