FLOATING_EARTH_(EUROPE)_L - Accounts

FLOATING EARTH (EUROPE) LIMITED - Company Information

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Company Registration No. 02516099 (England and Wales)

FLOATING EARTH (EUROPE) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FLOATING EARTH (EUROPE) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FLOATING EARTH (EUROPE) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

58,147

68,408

Current assets

Debtors

239,061

219,336

Cash at bank and in hand

2,924

239,062

222,260

Creditors: amounts falling due within one year

(50,580)

(41,660)

Net current assets

188,482

180,600

Total assets less current liabilities

246,629

249,008

Creditors: amounts falling due after more than one year

(72,948)

(100,892)

173,681

148,116

Capital and reserves

Called up share capital

100

Share premium account

106,474

Profit and loss account

67,107

41,542

Shareholders' funds

173,681

148,116

For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 July 2017

Mr. Stephen Mark Long

Director

Company Registration No. 02516099

FLOATING EARTH (EUROPE) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand and also the support of creditors and finance houses. The directors have prepared these accounts on the basis that the company is a going concern and that support outlined above will continue.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% Reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

FLOATING EARTH (EUROPE) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 November 2015 & at 31 October 2016

317,747

Depreciation

At 1 November 2015

249,339

Charge for the year

10,261

At 31 October 2016

259,600

Net book value

At 31 October 2016

58,147

At 31 October 2015

68,408

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

63,632

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100