FT Tech Europe Limited Company Accounts

FT TECH EUROPE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06423374

FT Tech Europe Limited

Filleted Unaudited Financial Statements

30 June 2017

FT Tech Europe Limited

Financial Statements

Year ended 30 June 2017

Contents	Pages

Officers and professional advisers	1

Balance sheet	2

Notes to the financial statements	3 to 4

FT Tech Europe Limited

Officers and Professional Advisers

The board of directors	Dr S Kapartis-Executive Chairman
	Mr P Elgar
	Dr S J Norton

Registered office	Sunbury House
	Brooklands Close
	Sunbury on Thames
	TW16 7DX

Accountants	Stephenson Smart
	Chartered Accountants
	22-26 King Street
	King's Lynn
	Norfolk
	PE30 1HJ

FT Tech Europe Limited

Balance Sheet

30 June 2017

	2017		2016
Note	£	£	£

Current assets

Cash at bank and in hand	1,202,535		1,202,599

Creditors: amounts falling due within one year	4	1,200,000		1,200,000
		------------		------------
Net current assets			2,535	2,599
			-------	-------
Total assets less current liabilities			2,535	2,599
			-------	-------

Capital and reserves

Called up share capital	2,850	2,850
Profit and loss account	( 315)	( 251)
	-------	-------
Shareholders funds	2,535	2,599
	-------	-------

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 income and retained earnings (including profit and loss account) has not been delivered.

For the year ending 30 June 2017 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 financial statements were approved by the board of directors and authorised for issue on 23 March 2018 , and are signed on behalf of the board by:

Dr S Kapartis-Executive Chairman

Director

Company registration number: 06423374

FT Tech Europe Limited

Notes to the Financial Statements

Year ended 30 June 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sunbury House, Brooklands Close, Sunbury on Thames, TW16 7DX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .

4. Creditors: amounts falling due within one year

	2017	2016
	£	£
Other creditors	1,200,000	1,200,000
	------------	------------

5. Financial instruments at fair value

	2017	2016
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	1,202,535	1,202,599
	------------	------------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	1,200,000	1,200,000
	------------	------------

6. Related party transactions

The company was under the control of its directors throughout the current and previous year. During the year the company had a number of transactions with a company controlled by the Directors of FT Tech Europe Ltd. At the 30 June 2017 the company owed the other company £ 1,200,000 (2016 £1,200,000), included in other creditors.

7. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.

No transitional adjustments were required in equity or profit or loss for the year.