Thor Investment Advisor Europe Ltd Company Accounts

THOR INVESTMENT ADVISOR EUROPE LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09126434

Thor Investment Advisor Europe Ltd

Filleted Unaudited Financial Statements

31 December 2016

Thor Investment Advisor Europe Ltd

Financial Statements

Year ended 31 December 2016

Contents	Page

Statement of financial position	1

Statement of changes in equity	3

Notes to the financial statements	4

Thor Investment Advisor Europe Ltd

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Current assets

Debtors	5	690,209	14,702
Cash at bank and in hand		9,723	12,119
		---------	--------
		699,932	26,821

Creditors: amounts falling due within one year	6	136,115		259,705
		---------		---------
Net current assets/(liabilities)			563,817	( 232,884)
			---------	---------
Total assets less current liabilities			563,817	( 232,884)

Creditors: amounts falling due after more than one year	7	4,108,484	745,869
		------------	---------
Net liabilities		( 3,544,667)	( 978,753)
		------------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 3,544,668)	( 978,754)
	------------	---------
Members deficit	( 3,544,667)	( 978,753)
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Thor Investment Advisor Europe Ltd

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 7 September 2017 , and are signed on behalf of the board by:

Mr J Sitt
Director

Company registration number: 09126434

Thor Investment Advisor Europe Ltd

Statement of Changes in Equity

Year ended 31 December 2016

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 August 2014	–	–	–

Loss for the year		( 978,754)	( 978,754)
	----	---------	---------
Total comprehensive income for the year	–	( 978,754)	( 978,754)

Issue of shares	1	–	1
	----	---------	---------
Total investments by and distributions to owners	1	–	1

At 31 December 2015	1	( 978,754)	( 978,753)

Loss for the year		( 2,565,914)	( 2,565,914)
	----	------------	------------
Total comprehensive income for the year	–	( 2,565,914)	( 2,565,914)

	----	------------	------------
At 31 December 2016	1	( 3,544,668)	( 3,544,667)
	----	------------	------------

Thor Investment Advisor Europe Ltd

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9-10 Saville Row, Mayfair, W1S 3PF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2015: 6 ).

5. Debtors

	2016	2015
	£	£
Trade debtors	6,819	6,819
Amounts owed by group undertakings and undertakings in which the company has a participating interest	620,165	6,609
Other debtors	63,225	1,274
	---------	--------
	690,209	14,702
	---------	--------

6. Creditors: amounts falling due within one year

	2016	2015
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	112
Social security and other taxes	113,795	52,822
Other creditors	22,320	206,771
	---------	---------
	136,115	259,705
	---------	---------

7. Creditors: amounts falling due after more than one year

	2016	2015
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,108,484	745,869
	------------	---------

8. Related party transactions

Thor Investment Advisor Europe LLC provided all funding for the company. No transactions with related parties were undertaken such as are required to be disclosed.

9. Controlling party

The company is a wholly owned subsidiary of Thor Investment Advisors Europe LLC, an entity incorporated in the United States. the accounts can be obtained from Suite 101, 160 Greentree Drive, Dover, Delaware, USA.