Accounts filed on 31-12-2015


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31/12/2015

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 04357156


Registered Number: 04357156

BALANCE SHEET AT 31/12/2015

			2015		2014
	Notes		€		€

FIXED ASSETS
Tangible assets	2		1,518,643		1,509,238
Investments	3		415,085		415,085

			1,933,728		1,924,323

CURRENT ASSETS
Debtors (amounts falling due within one year)	4	25,000		5,000
Cash at bank and in hand		9,562		650
		34,562		5,650
CREDITORS: Amounts falling due within one year		2,045,119		1,994,988
NET CURRENT LIABILITIES			(2,010,557)		(1,989,338)
TOTAL ASSETS LESS CURRENT LIABILITIES			(76,829)		(65,015)

CAPITAL AND RESERVES

Called up share capital	5		30,000		30,000
Profit and loss account			(106,829)		(95,015)
SHAREHOLDERS' FUNDS			(76,829)		(65,015)

For the year ending 31/12/2015 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 07/09/2016 and signed on their behalf by




Sean Lee Hogan
Director

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 January 2015).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).




1c. Investment Properties

Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.




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.




3. INVESTMENT FIXED ASSETS

	Shares in group companies
	and participating interests	Total
	€	€
Cost
At 01/01/2015	415,085	415,085
At 31/12/2015	415,085	415,085
Amortisation
Net Book Amounts
At 31/12/2015	415,085	415,085
At 31/12/2014	415,085	415,085
The company holds the 100% of the share capital of Orobica Srl, a company registered in Italy. The profit for the last relevant financial year is EUR 3,255 (2014: EUR -25,612); the aggregate amount of capital and reserve is EUR 755,855 (2014: EUR 752,600).




4. DEBTORS	2015	2014
	€	€

Amounts falling due within one year:
Other debtors	25,000	5,000
	25,000	5,000




5. SHARE CAPITAL	2015	2014
	€	€
Allotted, issued and fully paid:
30000 Ordinary shares of £1 each	30000	30000
	30,000	30,000




6. CONTROLLING PARTY
The director is aware of the identity of the ultimate controlling party. However, he is under a duty of confidentiality preventing him to disclose certain information otherwise required by Financial Reporting Standard 8. Therefore he has taken the exemption offered by the Standard in respect of confidentiality.