Financial Services Corporation Limited - Filleted accounts

Financial Services Corporation Limited - Filleted accounts

FINANCIAL SERVICES CORPORATION LIMITED - Company Information

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Financial Services Corporation Limited
Registered number: 10978581
Balance Sheet
as at 12 February 2022
Notes 2022 2021
£ £
Current assets
Investments 3 2,002,719 2,094,851
Current assets
Debtors 100 100
Net current assets 100 100
Total assets less current liabilities 2,002,819 2,094,951
Creditors: amounts falling due after more than one year (2,002,719) (2,094,851)
100 100
Capital and reserves
Called up share capital 100 100
Shareholders' funds 100 100
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 480 of the Companies Act 2006 relating to dormant companies.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. A profit and loss account has not been delivered to the Registrar of Companies.
Marc Geoffrey Lee
Director
Approved by the board on 14 April 2022
Financial Services Corporation Limited
Notes to the Accounts
for the year ended 12 February 2022
1 Accounting policies
The accounts have been prepared under the historical cost convention.
2 Other information
Financial Services Corporation Limited is a private company limited by shares and incorporated in England. Its registered office is:
‘’Financial Services Corporation Limited (FSC) is the owner of 371,520 ordinary shares in the company ASC-MAP SA, of nominal value 1€ (1 Euro) each, which represent a total shareholding of 77.4% in ASC-MAP SA’ total fully paid up share capital.
Additionally, Financial Services Corporation today holds a claim against the company under the trade name RMP (SPORTS) LTD of Euros 2,393,488.39
In summary, FSC acquired on 01/09/2019 and held a total claim of Euros 4,393,488.39 against RMP. Part of this claim amounting to Euros 2,000,000.00 was settled on 11/9/2019 against the acquisition of shares issued by ASC-MAP SA, which RMP previously owned (77.4 % of the stake in ASC-MAP SA).
After such shares acquisition, the amount of Euros 2,000,000.00 has been written off, whereas FSC still holds a claim of Euros 2,393,488.39 against RMP, which has been assigned against a consideration of 10% of any receivables from RMP. Till today, no amount against the residual claim has been paid by RMP to FSC and no fees have been paid against the assignment consideration.
The companies’ details are the following:
" RMP ( SPORTS ) LTD " , a company incorporated under the Laws of the Republic of Cyprus, with registration number HE 71920, with registered office in Strovolos Nicosia (Andrea Avramidis street No. 100).
“ASC MAP S.A." a company incorporated under the Laws of Greece, with registered office at 24 Gr. Lampraki str, Glyfada Attiki, Tax Identification Number 998180052, General Commercial Register No 122644001000.’’
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