EUROPEAN_BACKGROUND_LIMIT - Accounts

EUROPEAN BACKGROUND LIMITED - Company Information

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Company Registration No. 03666882 (England and Wales)

EUROPEAN BACKGROUND LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2015

3 Acorn Business Centre

Northarbour Road

Cosham

Portsmouth

United Kingdom

PO6 3TH

EUROPEAN BACKGROUND LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

EUROPEAN BACKGROUND LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

855

1,848

Current assets

Debtors

310,087

386,620

Cash at bank and in hand

163,623

18,176

473,710

404,796

Creditors: amounts falling due within one year

(57,953)

(26,826)

Net current assets

415,757

377,970

Total assets less current liabilities

416,612

379,818

Capital and reserves

Called up share capital

100

Profit and loss account

416,512

379,718

Shareholders' funds

416,612

379,818

For the financial year ended 30 November 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 31 August 2016

Mr J. Gunn

Director

Company Registration No. 03666882

EUROPEAN BACKGROUND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 2 -

Accounting policies

1.1

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015).

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 (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

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

Fixtures and Fittings

25% Straight line

Equipment

25% Straight line

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.

Fixed assets

Tangible assets

Cost

At 1 December 2014 & at 30 November 2015

11,449

Depreciation

At 1 December 2014

9,601

Charge for the year

993

At 30 November 2015

10,594

Net book value

At 30 November 2015

855

At 30 November 2014

1,848

EUROPEAN BACKGROUND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 3 -

Debtors

Debtors include an amount of £221,083 (2014 - £227,083) which is due after more than one year.

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100