EUROSHIRE_LIMITED - Accounts

EUROSHIRE LTD - Company Information

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Company Registration No. 03420894 (England and Wales)

EUROSHIRE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

EUROSHIRE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

EUROSHIRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

1,283,253

656,343

Current assets

Debtors

4,150

8,273

Cash at bank and in hand

13,468

14,384

17,618

22,657

Creditors: amounts falling due within one year

(36,821)

(28,246)

Net current liabilities

(19,203)

(5,589)

Total assets less current liabilities

1,264,050

650,754

Creditors: amounts falling due after more than one year

(536,197)

(554,735)

727,853

96,019

Capital and reserves

Called up share capital

100

Revaluation reserve

616,190

Profit and loss account

111,563

95,919

Shareholders' funds

727,853

96,019

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 September 2015

S Lipschitz

Director

Company Registration No. 03420894

EUROSHIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Changes in accounting policies

During the period the company changed its accounting policy for freehold and leasehold property by recognising these assets at their market value and applying revaluations rather than depreciation. The comparative figures are adjusted accordingly and reserves brought forward are restated by £28,809 as a result of this change.

1.3

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.4

Turnover

Turnover represents amounts receivable for rent and services net of VAT.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% Reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

EUROSHIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 January 2014

656,343

Additions

10,960

Revaluation

616,190

At 31 December 2014

1,283,493

Depreciation

At 1 January 2014

Charge for the year

240

At 31 December 2014

240

Net book value

At 31 December 2014

1,283,253

At 31 December 2013

656,343

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100