Bestnet Europe Limited - Dormant company accounts 11.9

REGISTERED NUMBER: 05598271 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2014

for

Bestnet Europe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T H Larsen

T A Sig

REGISTERED OFFICE:

Second Floor

11 Pilgrim Street

London

EC4V 6RN

REGISTERED NUMBER:

05598271 (England and Wales)

CURRENT ASSETS

Debtors

1,637

CREDITORS

Amounts falling due within one year

3,816,301

NET CURRENT LIABILITIES

(3,814,664

)

(3,814,664

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,814,664

)

(3,814,664

)

CAPITAL AND RESERVES

Called up share capital

2

100

Profit and loss account

(3,814,764

)

(3,814,764

)

SHAREHOLDERS' FUNDS

(3,814,664

)

(3,814,664

)

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

These accounts were approved by the Board of Directors on 6 November 2015 and were signed on its behalf by:

T H Larsen - Director

T A Sig - Director

1.	ACCOUNTING POLICIES

Accounting basis and standards

The financial statements have been prepared under the historical cost convention and in accordance with

applicable accounting standards in the United Kingdom. A Summary of the more important accounting policies,

which have been applied consistently, is set out below:

Foreign currencies

Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currency are translated at the rate of exchange ruling at

the balance sheet date. All differences are taken to the profit and loss account.

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are

carried at amortized cost.

Accounting convention

The financial statements have been prepared under the historical cost convention.

The company was dormant throughout the year ended 31 October 2014. However, reference to information

relating to the year ended 31 October 2013 has been made where appropriate.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

100

Ordinary

1

100

3.	DIRECTORS' INTEREST IN CONTRACTS AND RELATED PARTY TRANSACTIONS

Under FRS8 the company is exempt from disclosing transactions and balances with other group companies, as it

is 100% owned by the group.

4.

OWNERSHIP

The ultimate parent undertaking is Bestnet DK A/S, a company incorporated in Denmark

Bestnet A/S prepares group financial statements and copies can be obtained from:

Erhvervsstyrelsen

Langelinie Allé 17

2100 København

Denmark