| UNISTATE PROPERTIES LIMITED |
Registered number |
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07514372 |
| Abbreviated Balance Sheet |
| as at 31 December 2015 |
|
| Notes |
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|
2015 |
|
|
2014 |
| € |
€ |
| Fixed assets |
| Investments |
2 |
|
|
435,000 |
|
|
435,000 |
|
| Current assets |
| Debtors |
3 |
|
5,962,474 |
|
|
5,677,442 |
|
| Creditors: amounts falling due within one year |
|
|
(6,912) |
|
|
(11,466) |
|
| Net current assets |
|
|
|
5,955,562 |
|
|
5,665,976 |
|
| Total assets less current liabilities |
|
|
|
6,390,562 |
|
|
6,100,976 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(6,402,048) |
|
|
(6,104,215) |
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|
|
| Net liabilities |
|
|
|
(11,486) |
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|
(3,239) |
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|
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| Capital and reserves |
| Called up share capital |
4 |
|
|
1 |
|
|
1 |
| Profit and loss account |
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|
|
(11,487) |
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|
(3,240) |
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| Shareholders' funds |
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|
|
(11,486) |
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|
(3,239) |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
| Approved by the board on 23 October 2016 |
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| Mrs M Vrina |
| Director |
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| UNISTATE PROPERTIES LIMITED |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2015 |
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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The financial statements are presented in Euros. |
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Group Accounts |
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The company and its subsidiary company comprise a small group. The company has therefore taken advantage of the exemption provided in section 398 of the Companies Act 2006 not to prepare group financial statements and accordingly these financial statements present information about the company as a single undertaking. |
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Turnover |
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Turnover represents the interest receivable on the loans. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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| 2 |
Investments |
€ |
|
|
Cost |
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At 1 January 2015 |
435,000 |
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At 31 December 2015 |
435,000 |
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The company holds 20% or more of the share capital of the following companies: |
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|
Company |
Shares held |
Country of |
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|
Class |
% |
Incorporation |
|
|
Niko Hotels GmbH |
Ordinary |
100 |
Austria |
|
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The result of the undertaking from the last available unaudited financial statements were as follows : |
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| Capital and |
|
Profit/ (Loss) |
| reserves |
for the year |
| € |
€ |
|
|
|
|
|
|
(1,301,648) |
|
(333,656) |
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|
| 3 |
Debtors |
2015 |
|
2014 |
| € |
€ |
|
Debtors include: |
|
|
Amounts due after more than one year |
1,430,774 |
|
1,241,411 |
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| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
€ |
€ |
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Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
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| 5 |
Going concern |
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As at the balance sheet date, the company had net liabilities of € 11,486 (2014: € 3,239) and a loss for the period of € 8,247 (2014: € 4,425).
On the basis of the financial support available from the company director, the company will continue in operational existence in the future.
The director is of the opinion that the company will improve its profitability and generate sufficient funds in the foreseeable future to pay its debts and liabilities as and when they arise.
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