Eurolink Corporation Limited - Period Ending 2016-02-29

Registration number: 02527336

Eurolink Corporation Limited

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

Eurolink Corporation Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Eurolink Corporation Limited
(Registration number: 02527336)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					307,514			1,175
Investments					16,414			16,700
					323,928			17,875
Current assets
Debtors					170,798			202,123
Cash at bank and in hand					86,654			140,495
					257,452			342,618
Creditors: Amounts falling due within one year					(300,211)			(22,572)
Net current (liabilities)/assets					(42,759)			320,046
Net assets					281,169			337,921
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					(9,857)			(9,572)
Profit and loss account					290,926			347,393
Shareholders' funds					281,169			337,921

For the year ending 29 February 2016 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 director acknowledges his 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 special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 2 November 2016

.........................................
Mr Mohammed Saleem Chaudhry
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Eurolink Corporation Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% on WDV

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

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

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Eurolink Corporation Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 March 2015		20,683			16,700			37,383
Revaluations		-			(286)			(286)
Additions		306,633			-			306,633
At 29 February 2016		327,316			16,414			343,730
Depreciation
At 1 March 2015		19,508			-			19,508
Charge for the year		294			-			294
At 29 February 2016		19,802			-			19,802
Net book value
At 29 February 2016		307,514			16,414			323,928
At 28 February 2015		1,175			16,700			17,875

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3