Eurogrand Limited - Accounts to registrar (filleted) - small 17.3
Eurogrand Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| EUROGRAND LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| EUROGRAND LIMITED (REGISTERED NUMBER: 03165346) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EUROGRAND LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| First Floor |
| 94 Stamford Hill |
| London |
| N16 6XS |
| EUROGRAND LIMITED (REGISTERED NUMBER: 03165346) |
| BALANCE SHEET |
| 30 JUNE 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| EUROGRAND LIMITED (REGISTERED NUMBER: 03165346) |
| BALANCE SHEET - continued |
| 30 JUNE 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| EUROGRAND LIMITED (REGISTERED NUMBER: 03165346) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 1. | STATUTORY INFORMATION |
| Eurogrand Limited is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the historical cost basis, as modified to include |
| investment properties measured at fair value through profit or loss. |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 30 June 2017 are the first that are prepared in |
| accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance |
| with UK GAAP, the date of transition to FRS 102 Section 1A is 1 July 2015. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Office equipment | - |
| Investment property |
| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially |
| recorded at cost, which includes purchase price and any directly attributable expenditure. |
| Investment property is revalued to its fair value at each reporting date and any changes in fair value |
| are recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
| Account, except to the extent that it relates to items recognised in other comprehensive income or |
| directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| EUROGRAND LIMITED (REGISTERED NUMBER: 03165346) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
| that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Office |
| equipment |
| £ |
| COST |
| At 1 July 2016 |
| and 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2016 |
| and 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| The fair value of the investment properties has been arrived at on the basis of a valuation carried out |
| by the company's directors who are considered to have the experience and expertise required to |
| undertake such an exercise. The valuation was made on an open market value basis by reference to |
| market evidence of transaction prices for similar properties in the same location. |
| The historical cost of investment properties at 30 June 2017 is £21,092. |
| EUROGRAND LIMITED (REGISTERED NUMBER: 03165346) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 19,114 | 20,466 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2016 |
| Credit to Profit and Loss Account during year | ( |
) |
| Balance at 30 June 2017 |
| Deferred tax arises from the revaluation of investment properties. |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £30,000 were paid to the directors . |
| 11. | FIRST YEAR ADOPTION |
| These are the first financial statements that comply with FRS 102. The company transitioned to FRS |
| 102 on 1 July 2015. |
| The following were changes in accounting policies arising from the transition to FRS 102: |
| Investment properties: |
| Previously, the company's investment properties were shown at market value, with aggregate surplus |
| or deficit being recorded in the revaluation reserve. Under FRS 102, these properties are shown at fair |
| value, with changes in fair value being recorded in the profit and loss account. |
| Deferred tax on unrealised investment property gains and losses: |
| Previously, no deferred tax was recognised on the timing differences between the accounting and tax |
| treatment of the revaluation of the company's investment property. Under FRS 102, deferred tax is |
| recognised on the difference between the cost for tax purposes and the fair value of the company's |
| investment properties, with movements recorded in the profit and loss account. |