Sasch & Goss Ltd - Period Ending 2016-12-31

SASCH & GOSS LIMITED - Company Information

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Registration number: 07766105

Sasch & Goss Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Sasch & Goss Ltd

Contents

Balance Sheet	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3 to 4

Sasch & Goss Ltd

(Registration number: 07766105)
Balance Sheet as at 31 December 2016

	Note	2016 €	2015 €
Fixed assets
Investment property	3	975,000	975,000
Current assets
Cash at bank and in hand		4,178	858
Creditors: Amounts falling due within one year	4	(1,030,610)	(1,024,110)
Net current liabilities		(1,026,432)	(1,023,252)
Net liabilities		(51,432)	(48,252)
Capital and reserves
Called up share capital		114	114
Profit and loss account		(51,546)	(48,366)
Total equity		(51,432)	(48,252)

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 11 August 2017

.........................................

Mr NR Hogan

Director

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 1

Sasch & Goss Ltd

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital €	Profit and loss account €	Total €
At 1 January 2016	114	(48,366)	(48,252)
Loss for the year	-	(3,180)	(3,180)
Total comprehensive income	-	(3,180)	(3,180)
At 31 December 2016	114	(51,546)	(51,432)

	Share capital €	Profit and loss account €	Total €
At 1 January 2015	114	(19,516)	(19,402)
Loss for the year	-	(28,850)	(28,850)
Total comprehensive income	-	(28,850)	(28,850)
At 31 December 2015	114	(48,366)	(48,252)

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 2

Sasch & Goss Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the director on 11 August 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Sasch & Goss Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Investment properties

	2016 €
At 1 January	975,000

There has been no valuation of investment property by an independent valuer.

Creditors

	Note	2016 €	2015 €
Due within one year
Other creditors		1,030,610	1,024,110

5	Transition to FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 January 2016 however the transaction did not have any effect on the opening balance of the company.

Page 4