Abbreviated Company Accounts - LAUREL INT'L MANAGEMENT LTD

Abbreviated Company Accounts - LAUREL INT'L MANAGEMENT LTD

LAUREL INT'L MANAGEMENT LTD - Company Information

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Registered Number 08649483

LAUREL INT'L MANAGEMENT LTD

Abbreviated Accounts

31 December 2016

LAUREL INT'L MANAGEMENT LTD Registered Number 08649483

Abbreviated Balance Sheet as at 31 December 2016

Notes 31/12/2016 31/08/2015
$ $
Fixed assets
Investments 2 1,053 1,089
1,053 1,089
Current assets
Debtors 378,781 121,405
Cash at bank and in hand 185,756 586,375
564,537 707,780
Creditors: amounts falling due within one year (690,212) (725,544)
Net current assets (liabilities) (125,675) (17,764)
Total assets less current liabilities (124,622) (16,675)
Creditors: amounts falling due after more than one year (2,036) (2,499)
Total net assets (liabilities) (126,658) (19,174)
Capital and reserves
Called up share capital 3 10,000 10,000
Profit and loss account (136,658) (29,174)
Shareholders' funds (126,658) (19,174)
  • For the year ending 31 December 2016 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 15 November 2017

And signed on their behalf by:
Mr C Pallakis, Director

LAUREL INT'L MANAGEMENT LTD Registered Number 08649483

Notes to the Abbreviated Accounts for the period ended 31 December 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Valuation information and policy
Fixed asset investments are shown at their cost to the company, including all costs of acquisition.

Other accounting policies
Foreign currencies:
Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern:
The financial statements have been prepared on a going concern basis notwithstanding the excess of liabilities over assets as the director believes the beneficial owner will continue to make adequate funds available to enable the company to meet its liabilities as and when they fall due. The director has no reason to believe that financial support will not continue in the future and considered it appropriate to adopt a going concern basis. The accounts do not contain any adjustments that would be necessary should this basis not be appropriate.

2Fixed assets Investments
Unlisted investments consist of 1,000 x €1 shares in Laurel International Management Ltd (a company registered in Cyprus). The principal activity of the company is the undertaking of projects for rendering services related to sports and cultural events.

3Called Up Share Capital
Allotted, called up and fully paid:
31/12/2016
$		 31/08/2015
$
10,000 Ordinary shares of $1 each 10,000 10,000

4Transactions with directors

Name of director receiving advance or credit: Mr C Pallakis
Description of the transaction: Loan
Balance at 1 September 2015: $ 2,499
Advances or credits made: -
Advances or credits repaid: $ 463
Balance at 31 December 2016: $ 2,036