Abbreviated Company Accounts - EUROPHONICS LIMITED

EUROPHONICS LIMITED - Company Information

03654583 EUROPHONICS LIMITED 2013-10-31 false 2012-11-01 2013-10-31 true 03654583 2012-11-01 2013-10-31 03654583 2013-10-31 03654583 2012-10-31 03654583 uk-gaap-cd-bus:Director1 2012-11-01 2013-10-31 03654583 uk-gaap-cd-bus:Director2 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-10-31 iso4217:GBP shares

Registered Number 03654583

EUROPHONICS LIMITED

Abbreviated Accounts

31 October 2013

EUROPHONICS LIMITED Registered Number 03654583

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	1,336,030	1,331,898
		1,336,030	1,331,898
Current assets
Stocks		4,025	4,025
Debtors		74,865	68,855
Cash at bank and in hand		2,163	822
		81,053	73,702
Creditors: amounts falling due within one year		(4,189,016)	(4,115,226)
Net current assets (liabilities)		(4,107,963)	(4,041,524)
Total assets less current liabilities		(2,771,933)	(2,709,626)
Total net assets (liabilities)		(2,771,933)	(2,709,626)
Capital and reserves
Called up share capital	3	10,000	10,000
Profit and loss account		(2,781,933)	(2,719,626)
Shareholders' funds		(2,771,933)	(2,709,626)

For the year ending 31 October 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 16 July 2014

And signed on their behalf by:
FS CAMELI, Director

EUROPHONICS LIMITED Registered Number 03654583

Notes to the Abbreviated Accounts for the period ended 31 October 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008. At the balance sheet date the liabilities of the Company exceed the assets by £2,771,933. The accounts have been prepared on a going concern basis because the Directors' have an undertaking from the shareholder that they will not demand repayment of their loan until adequate and alternate funding has ben arranged.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided in order to write off the assets over the estimated useful lives.
Plant & Machinery - 10% reducing balance
Fixtures, Fittings and Equipment - 20% reducing balance

Other accounting policies
Foreign Currencies
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.

2Tangible fixed assets

	£
Cost
At 1 November 2012	3,131,205
Additions	43,250
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	3,174,455
Depreciation
At 1 November 2012	1,799,307
Charge for the year	39,118
On disposals	-
At 31 October 2013	1,838,425
Net book values
At 31 October 2013	1,336,030
At 31 October 2012	1,331,898

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
9,500 Ordinary shares of £1 each	9,500	9,500
500 B Ordinary shares of £1 each	500	500