Golden Choice (Europe) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03660339

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

GOLDEN CHOICE (EUROPE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

A I Bashir

SECRETARY:

A Bashir

REGISTERED OFFICE:

Unit A

Anglian Industrial Estate

Atcost Road

Barking

IG11 OEQ

REGISTERED NUMBER:

03660339

ACCOUNTANTS:

Patsons Accountancy Limited

51 Copse Wood Way

Northwood

HA6 2TZ

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

3,896,613

3,896,613

3,896,613

3,896,613

CURRENT ASSETS

Debtors

6

38,000

9,750

Cash at bank and in hand

17,816

37,528

55,816

47,278

CREDITORS

Amounts falling due within one year

7

800,092

810,184

NET CURRENT LIABILITIES

(744,276

)

(762,906

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,152,337

3,133,707

CREDITORS

Amounts falling due after more than one year

8

1,710,207

1,786,795

NET ASSETS

1,442,130

1,346,912

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

642,063

642,063

Retained earnings

799,967

704,749

SHAREHOLDERS' FUNDS

1,442,130

1,346,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2023 and were signed by:

A I Bashir - Director

1.	STATUTORY INFORMATION

Golden Choice (Europe) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Accounting policies

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

The financial statements have been prepared under the historical cost basis, modified to include the revaluation of investment property, and in accordance with the Financial Reporting Standard for

Smaller Entities(effective January 2015)

Turnover

Turnover represents rental income which is recognised as income on a straight-line basis over the period of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost

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.

Investment properties are freehold and leasehold held to earn rental income and/or for capital appreciation.

Investment properties are stated in the balance sheet at open market value. Changes in market value are recognised in revaluation reserve and shown in the statement of total recognised gains and losses, unless a deficit in valuation on an individual property is expected to be permanent in which case it is charged to the profit and loss account for the period.

Depreciationis not provided on investment properties.This is contrary to the requirements of the

Companies Act 2006 but is necessary in order for the accounts to give atrue and fair view.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

to

properties

£

COST

At 1 March 2022

and 28 February 2023

72,439

DEPRECIATION

At 1 March 2022

and 28 February 2023

72,439

NET BOOK VALUE

At 28 February 2023

-

At 28 February 2022

-

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 March 2022

and 28 February 2023

3,896,613

NET BOOK VALUE

At 28 February 2023

3,896,613

At 28 February 2022

3,896,613

Cost or valuation at 28 February 2023 is represented by:

£

Valuation in 2023

3,896,613

If Investment had not been revalued it would have been included at the following historical cost:

28.2.23

28.2.22

£

£

Cost

3,896,613

3,896,613

Investment Properties were valued on an open market basis on 28 February 2023 by a director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Trade debtors

38,000

9,750

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Trade creditors

-

2,400

Taxation and social security

22,334

24,819

Other creditors

777,758

782,965

800,092

810,184

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The company has a bank loan of £273058secured on freehold properties

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.23

28.2.22

£

£

Bank loans

1,321,513

1,519,363

10.

RESERVES

Revaluation

reserve

£

At 1 March 2022

and 28 February 2023

642,063

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Golden Choice (Europe) Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Golden Choice (Europe) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Golden Choice (Europe) Limited and state those matters that we have agreed to state to the director of Golden Choice (Europe) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Golden Choice (Europe) Limited and its director for our work or for this report.

It is your duty to ensure that Golden Choice (Europe) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Golden Choice (Europe) Limited. You consider that Golden Choice (Europe) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Golden Choice (Europe) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Patsons Accountancy Limited

51 Copse Wood Way

Northwood

HA6 2TZ

22 November 2023