Euro GPs Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05579496 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Euro GPs Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A Sadeqzada

E Khorshidi

SECRETARY:

E Khorshidi

REGISTERED OFFICE:

30 Rosedale Avenue

South Bents

Sunderland

Tyne & Wear

SR6 8BD

REGISTERED NUMBER:

05579496 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

HSBC Bank plc

Unit 49-51

The Bridges Shopping Centre

Sunderland

Tyne and Wear

SR1 3LE

FIXED ASSETS

Tangible assets

4

4,603

5,809

Investment property

5

1,107,009

1,102,020

1,111,612

1,107,829

CURRENT ASSETS

Debtors

6

63,950

101,620

Cash at bank

377,445

277,814

441,395

379,434

CREDITORS

Amounts falling due within one year

7

47,136

43,466

NET CURRENT ASSETS

394,259

335,968

TOTAL ASSETS LESS CURRENT LIABILITIES

1,505,871

1,443,797

CREDITORS

Amounts falling due after more than one year

8

-

42,243

NET ASSETS

1,505,871

1,401,554

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,505,771

1,401,454

SHAREHOLDERS' FUNDS

1,505,871

1,401,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 15 December 2020 and were signed on its behalf by:

A Sadeqzada - Director

1.	STATUTORY INFORMATION

Euro GPs 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future, which the director considers to be appropriate.

Turnover

Turnover represents net sales of services, excluding value added tax.

Tangible fixed assets

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

Medical equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% Straight line

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Medical

and

Motor

Computer

equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2019

and 31 March 2020

1,500

1,900

5,790

2,901

12,091

DEPRECIATION

At 1 April 2019

1,426

1,711

577

2,568

6,282

Charge for year

15

38

1,043

110

1,206

At 31 March 2020

1,441

1,749

1,620

2,678

7,488

NET BOOK VALUE

At 31 March 2020

59

151

4,170

223

4,603

At 31 March 2019

74

189

5,213

333

5,809

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

1,102,020

Additions

106,230

Disposals

(101,241

)

At 31 March 2020

1,107,009

NET BOOK VALUE

At 31 March 2020

1,107,009

At 31 March 2019

1,102,020

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

4,295

3,805

Other debtors

59,655

97,815

63,950

101,620

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

4,371

Trade creditors

2,103

2,121

Taxation and social security

42,561

34,580

Other creditors

2,472

2,394

47,136

43,466

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

-

42,243

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

-

24,761

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

-

46,614

The bank loans were secured by a fixed charge over the company's investment properties.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019:

2020

2019

£

£

A Sadeqzada and E Khorshidi

Balance outstanding at start of year

96,013

(41,803

)

Amounts advanced

128,214

187,774

Amounts repaid

(166,468

)

(49,958

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

57,759

96,013

11.

CONTROL

The controlling party is A Sadeqzada.