EURO_FIRE_PRODUCTS_LTD - Accounts

EURO FIRE PRODUCTS LIMITED - Company Information

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Company Registration No. 07586914 (England and Wales)

EURO FIRE PRODUCTS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

EURO FIRE PRODUCTS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

EURO FIRE PRODUCTS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Investments

1,201,060

Current assets

Cash at bank and in hand

5,595

6,073

Creditors: amounts falling due within one year

(1,378,466)

(1,378,165)

Net current liabilities

(1,372,871)

(1,372,092)

Total assets less current liabilities

(171,811)

(171,032)

Capital and reserves

Called up share capital

Profit and loss account

(171,813)

(171,034)

Shareholders' funds

(171,811)

(171,032)

For the financial year ended 30 June 2015 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 27 March 2016

Mr J Harrison

Director

Company Registration No. 07586914

EURO FIRE PRODUCTS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 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

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.

1.3

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.6

Consolidation exemption policy

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.7

Going concern

The balance sheet shows liabilities in excess of assets of £171,811 as at 30 June 2015. This is after the inclusion of directors' loans of £658,978. The directors are confident that the company will continue to operate as a going concern for the foreseeable future with their continued financial support.

Fixed assets

Investments

Cost

At 1 July 2014 & at 30 June 2015

1,201,060

Net book value

At 30 June 2015

1,201,060

At 30 June 2014

1,201,060

The company owns 100% of the share capital of Euroliters Plam Bulgaria AD, a company registered in Bulgaria.

Holdings of more than 20%

The company holds more than 20% of the share capital of the following company:

EURO FIRE PRODUCTS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

Fixed assets

(Continued)

- 3 -

Subsidiary undertaking

Country of registration or

Shares held

incorporation

Class

Euroliters Plam Bulgaria, AD

Bulgaria

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Subsidiary undertaking

Principal activity

Euroliters Plam Bulgaria, AD

Manufacture of fire-starting products

683,993

(682,404)

The assets of Plam Bulgaria are currently being liquidated and subsequently the trade has ceased. There is no date of when the liquidation will be finalised.

Subsequent events

The directors of Euro Fire Products Limited are in the the process of finalising the liquidation of the assets of its subsidiary Euroliters Plam Bulgaria AD. At the date of signing the financial statements of Euro Fire Products Limited, the amount that is expected to be realised on the liquidation of these assets is yet to be determined.

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Related party relationships and transactions

As at 30 June 2015 the company owed £658,978 (2014: £658,978) to Mr M B Jones, a director of the company. No interest is payable on this amount.

The company's directors, Mr M B Jones and Mr J Harrison, are also directors of Euroliters Limited, a company registered in England and Wales. As at 30 June 2015, £719,188 (2014: £712,353) was owed by the company to Euroliters Limited and interest of £nil (2014: £nil) was charged to the company by Euroliters Limited.