European Venture Holdings Limited - Accounts to registrar (filleted) - small 22.3
European Venture Holdings Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| EUROPEAN VENTURE HOLDINGS LIMITED |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EUROPEAN VENTURE HOLDINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Tax Consultants |
| 27-29 Old Market |
| Wisbech |
| Cambridgeshire |
| PE13 1NE |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| BALANCE SHEET |
| 31 MARCH 2022 |
| 31.3.22 | 31.3.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| BALANCE SHEET - continued |
| 31 MARCH 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| European Venture Holdings Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the balance sheet date the company had a working capital deficit of £96,724 by virtue of its current liabilities exceeding its current assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing. |
| Investments |
| Listed Investments are measured at fair value with changes in fair value being recognised in profit or loss. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2021 | 5,836,132 |
| Additions | 120,916 |
| Disposals | ( |
) | (383,406 | ) |
| Revaluations | 331,510 |
| At 31 March 2022 | 5,905,152 |
| NET BOOK VALUE |
| At 31 March 2022 | 5,905,152 |
| At 31 March 2021 | 5,836,132 |
| Cost or valuation at 31 March 2022 is represented by: |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| Valuation in 2022 | 100 | 5,905,052 | 5,905,152 |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2021 |
| Revaluations | 60,000 |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| Fair value at 31 March 2022 is represented by: |
| £ |
| Valuation in 2022 | 570,000 |
| If Investment Property had not been revalued it would have been included at the following historical cost: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Cost | 613,875 | 613,875 |
| Investment Property was valued on an open market basis on 31 March 2022 by Lacy Scott & Knight . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| EUROPEAN VENTURE HOLDINGS LIMITED (REGISTERED NUMBER: 01901599) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| During the period interest was charged on directors overdrawn loan accounts at 2.00%. Total interest charged amounted to £142 (2021 - £3,840). |