EUROTRANS INVESTMENTS LIMITE - Accounts 2013

EUROTRANS INVESTMENTS LIMITE - Accounts 2013

EUROTRANS INVESTMENTS LIMITED - Company Information

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2013-01-012013-12-3103595191falsetruehttp://www.companieshouse.gov.uk/cd:Director12013-01-012013-12-31http://www.companieshouse.gov.uk/pt:SharesFixedAssetInvestmentspt:GroupUndertakingsOtherParticipatingInterests2013-01-012013-12-31http://www.companieshouse.gov.uk/pt:FixturesFittings2012-12-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2012-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-01-012013-12-31http://www.companieshouse.gov.uk/pt:FixedAssetInvestmentsOtherThanLoans2013-01-012013-12-31http://www.companieshouse.gov.uk/pt:SharesFixedAssetInvestmentspt:GroupUndertakingsOtherParticipatingInterests2012-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-12-31http://www.companieshouse.gov.uk/pt:SharesFixedAssetInvestmentspt:GroupUndertakingsOtherParticipatingInterests2013-12-31http://www.companieshouse.gov.uk/pt:LoansHeldAsFixedAssetInvestments2013-01-012013-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12012-12-31http://www.companieshouse.gov.uk/pt:FixedAssetInvestmentsOtherThanLoans2012-12-31http://www.companieshouse.gov.uk/pt:FixedAssetInvestmentsOtherThanLoans2013-12-31http://www.companieshouse.gov.uk/pt:LoansHeldAsFixedAssetInvestments2012-12-31http://www.companieshouse.gov.uk/pt:LoansHeldAsFixedAssetInvestments2013-12-31http://www.companieshouse.gov.uk/2012-01-012012-12-31http://www.companieshouse.gov.uk/2013-01-012013-12-31http://www.companieshouse.gov.uk/2012-12-31http://www.companieshouse.gov.uk/2013-12-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-01-012013-12-31http://www.companieshouse.gov.uk/2012-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03595191
Eurotrans Investments Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/12/2013
Prepared By:
Telemark Management Services Ltd.
15A
The Mead
Ashtead
Surrey
KT21 2LZ

Eurotrans Investments Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/12/2013
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts4
The company's registered number is 03595191

Eurotrans Investments Limited
Registered Number: 03595191
BALANCE SHEET AT 31/12/2013
20132012
Notes££
FIXED ASSETS
Tangible assets222
Investments3699,513653,834
699,515653,836
CURRENT ASSETS
Debtors (amounts falling due within one year)447,96854,813
Cash at bank and in hand17,62821,558
65,59676,371
CREDITORS: Amounts falling due within one year8,5479,853
NET CURRENT ASSETS57,04966,518
TOTAL ASSETS LESS CURRENT LIABILITIES756,564720,354
CREDITORS: Amounts falling due after more than one year5693,392660,368
NET ASSETS63,17259,986
CAPITAL AND RESERVES
Called up share capital650,00050,000
Profit and loss account13,1729,986
SHAREHOLDERS' FUNDS63,17259,986

Eurotrans Investments Limited
Registered Number: 03595191
For the year ending 31/12/2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on 04/09/2014 and signed on their behalf by
Dr. Rudolf Meroni
Director

Eurotrans Investments Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2013
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
1c. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1d. Foreign Currency
Transactions in foreign currency are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling at that date. Foreign exchange gains and losses are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.
1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
1f. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.

Eurotrans Investments Limited
2. TANGIBLE FIXED ASSETS
Fixtures
and FittingsEquipmentTotal
£££
Cost
At 01/01/20135753,1953,770
At 31/12/20135753,1953,770
Depreciation
At 01/01/20135743,1943,768
At 31/12/20135743,1943,768
Net Book Amounts
At 31/12/2013112
At 31/12/2012112

Eurotrans Investments Limited
3. INVESTMENT FIXED ASSETS
Shares in group companies Other
and participating interestsInvestmentsLoansTotal
££££
Cost
At 01/01/2013--653,834653,834
Additions12,842301,79132,837347,470
At 31/12/201312,842301,791686,6711,001,304
Amortisation
Written Back--301,791301,791
At 31/12/2013--301,791301,791
Net Book Amounts
At 31/12/201312,842301,791384,880699,513
At 31/12/2012--653,834653,834
The Company has invested in a German Land owner project, part 1 and part 2 in the form of 4 Eurodenominated loans with initial principal value of Eur 505,000. The loans carries interest of 9% pa which accumulates to the principal capital. The company has acquired shares for € 7,500 (£ 6421) in the company ZIH I and similarily shares for € 7,500 (£ 6421) in ZIH II, giving the company a 30% shareholding in each of the companies. (see note 7)
In a Board meeting in ZIH I and ZIH II held 10 December 2012 it was agreed to convert a major part of Loan 1 in ZIH I and of Loan 1 in ZIH II into a second tier equity, called "Nachrangiges Eigenkapital", in the form of non interestbearing risk loan. The change would take effect on 1 January 2012, and consequently the applicable part of interest charged by the company in the 2012 accounts has been reversed in the 2013 accounts.
The converted part of the interest bearing loan in ZIH I 1st Loan was € 240,000 (£205,475) and for ZIH II 1st Loan it was € 112,500 (£ 96,316), totalling € 352,500 (£ 301,791) The Company's interest bearing Loans granted therefore stand at € 431,547 (£347,553) as at 1 January 2013.
4. DEBTORS 20132012
££
Amounts falling due within one year:
Trade debtors47,96854,813
47,96854,813

Eurotrans Investments Limited
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20132012
££
Trade creditors301,791-
Other creditors391,601660,368
693,392660,368
To finance its investment (see note 3), the company has taken up 4 loans with an Austrian company, MSK Beteiligungsberatung GesmbH with initial capital of Eur 520,000. These loans carries an interest of 8% pa which accumulates to the capital. In connection with the convertion of the Loans issued by the Company to the German Land entities, the lender - MSK Beteiligungsberatung GesmbH - has agreed to convert a similar sum of their loans to the Company to interest free loans with effect from 1 January 2012, (see Note 3) Consequently MSK has reduced the interest bearing part of their 1st Loan by € 240,000 (£ 205,475) and their 3rd loan by € 112,500 (£ 96,316) and accepted to reverse the applicable interest charged in 2012. Therefore the Company's interest bearing debt is reduced to € 443,215 (£ 358,268) on 1 January 2013.
6. SHARE CAPITAL 20132012
££
Allotted, issued and fully paid:
50000 Ordinary shares of £1.00 each5000050000
50,00050,000
7. SHAREHOLDINGS OF 20% OR MORE
The company held shares in 2 companies during the year under review
NameHolding:Country of Operation:Country of Residence:
ZIH I Grundbesitzgesellschaft mbH30%GermanyGermany
ZIH II Grundbesitzgesellschaft mbH30%GermanyGermany