Sabine Enterprises Limited - Limited company accounts 11.4

REGISTERED NUMBER: SC212014 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 October 2013

for

Sabine Enterprises Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Maurice Walters

SECRETARY:

Axiano Company Secretaries Limited

REGISTERED OFFICE:

71 Brunswick Street

Edinburgh

Midlothian

EH7 5HS

REGISTERED NUMBER:

SC212014 (Scotland)

The director presents his report with the financial statements of the company for the year ended 31 October 2013.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of acting as a commission agent.

DIRECTOR

Maurice Walters held office during the whole of the period from 1 November 2012 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with

applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve

the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and

of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Maurice Walters - Director

18 July 2014

TURNOVER

645

5,613

Administrative expenses

1,261

1,298

OPERATING (LOSS)/PROFIT and

(LOSS)/PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION

2

(616

)

4,315

Tax on (loss)/profit on ordinary activities

3

-

863

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(616

)

3,452

FIXED ASSETS

Investments

4

18,530

CURRENT ASSETS

Debtors

5

645

5,613

Cash at bank

42,765

39,276

43,410

44,889

CREDITORS

Amounts falling due within one year

6

1,025

1,888

NET CURRENT ASSETS

42,385

43,001

TOTAL ASSETS LESS CURRENT
LIABILITIES

60,915

61,531

CAPITAL AND RESERVES

Called up share capital

7

1,000

Profit and loss account

8

59,915

60,531

SHAREHOLDERS' FUNDS

60,915

61,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 18 July 2014 and were signed by:

Maurice Walters - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	OPERATING (LOSS)/PROFIT

The operating loss (2012 - operating profit) is stated after charging:

31.10.13

31.10.12

£

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the loss on ordinary activities for the year was as follows:

31.10.13

31.10.12

£

Current tax:

UK corporation tax

-

863

Tax on (loss)/profit on ordinary activities

-

863

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2012

and 31 October 2013

18,530

NET BOOK VALUE

At 31 October 2013

18,530

At 31 October 2012

18,530

The company holds 100% ordinary shares in ITPUP Sabina, a company registered in the Republic of Belarus.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.13

31.10.12

£

Trade debtors

645

5,613

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.13

31.10.12

£

Tax

-

863

Accrued expenses

1,025

1,888

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.13

31.10.12

value:

£

1,000

Ordinary

£1

1,000

8.

RESERVES

Profit

and loss

account

£

At 1 November 2012

60,531

Deficit for the year

(616

)

At 31 October 2013

59,915