EUROPEAK PROPERTIES LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03831984 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

FOR

EUROPEAK PROPERTIES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Dreyfuss

J Silver

REGISTERED OFFICE:

99 Clapton Common

London

E5 9AB

REGISTERED NUMBER:

03831984 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

4,505

5,300

Investment property

6

1,080,000

1,715,242

1,084,505

1,720,542

CURRENT ASSETS

Debtors

7

8,926

5,652

Investments

8

-

365,159

8,926

370,811

CREDITORS

Amounts falling due within one year

9

(157,680

)

(151,490

)

NET CURRENT (LIABILITIES)/ASSETS

(148,754

)

219,321

TOTAL ASSETS LESS CURRENT LIABILITIES

935,751

1,939,863

CREDITORS

Amounts falling due after more than one year

10

-

(802,192

)

PROVISIONS FOR LIABILITIES

(42,252

)

-

NET ASSETS

893,499

1,137,671

CAPITAL AND RESERVES

Called up share capital

12

1

1

Revaluation reserve

13

714,438

1,068,620

Retained earnings

13

179,060

69,050

SHAREHOLDERS' FUNDS

893,499

1,137,671

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 26 May 2021 and were signed on its behalf by:

J Dreyfuss - Director

1.	STATUTORY INFORMATION

EUROPEAK PROPERTIES LTD 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, 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.

Fixtures and fittings

-

15% 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.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2019

and 31 August 2020

8,495

DEPRECIATION

At 1 September 2019

3,195

Charge for year

795

At 31 August 2020

3,990

NET BOOK VALUE

At 31 August 2020

4,505

At 31 August 2019

5,300

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2019

1,715,242

Disposals

(323,311

)

Revaluations

(311,931

)

At 31 August 2020

1,080,000

NET BOOK VALUE

At 31 August 2020

1,080,000

At 31 August 2019

1,715,242

Fair value at 31 August 2020 is represented by:

£

Valuation in 2016

534,310

Valuation in 2020

222,379

Cost

323,311

1,080,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

2,974

5,652

Other debtors

5,952

-

8,926

5,652

8.	CURRENT ASSET INVESTMENTS

31.8.20

31.8.19

£

£

Unlisted investments

-

365,159

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Taxation and social security

56,780

4,116

Other creditors

100,900

147,374

157,680

151,490

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans

-

802,192

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

802,192

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.20

31.8.19

£

£

Bank loans

-

802,192

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.20

31.8.19

value:

£

£

1

Ordinary

£1

1

1

13.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 September 2019

69,050

1,068,620

1,137,670

Profit for the year

290,137

290,137

Revaluation

(180,127

)

(354,182

)

(534,309

)

At 31 August 2020

179,060

714,438

893,498

14.	ULTIMATE CONTROLLING PARTY

The controlling party is J Dreyfuss.