Burg Finances Limited - Limited company accounts 18.1.1

REGISTERED NUMBER: 05313485 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Burg Finances Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

5

DIRECTOR:

Jonathan Berecher

REGISTERED OFFICE:

11 Rosemont Road

Hampstead

London

NW3 6NG

REGISTERED NUMBER:

05313485 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 31 December 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of to act as a holding company.

DIRECTOR

Jonathan Berecher was appointed as a director on 1 June 2017 and held office during the whole of the period from then
to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with

applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not

approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the director is

required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Jonathan Berecher - Director

6 June 2018

TURNOVER

-

Administrative expenses

2,363

2,795

OPERATING LOSS and

LOSS BEFORE TAXATION

(2,363

)

(2,795

)

Tax on loss

-

LOSS FOR THE FINANCIAL YEAR

(2,363

)

(2,795

)

FIXED ASSETS

Investments

3

150,337

CURRENT ASSETS

Debtors

4

-

2

Cash in hand

2

-

2

CREDITORS

Amounts falling due within one year

5

7,263

4,900

NET CURRENT LIABILITIES

(7,261

)

(4,898

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

143,076

145,439

CREDITORS

Amounts falling due after more than one
year

6

150,337

NET LIABILITIES

(7,261

)

(4,898

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(7,263

)

(4,900

)

(7,261

)

(4,898

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 June 2018 and were signed by:

Jonathan Berecher - Director

1.	STATUTORY INFORMATION

Burg Finances Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

and 31 December 2017

150,337

NET BOOK VALUE

At 31 December 2017

150,337

At 31 December 2016

150,337

£150,337 investment is relating to 64% (ordinary) shares in TOV Budivelna Kompaniya Osnova, a company

registered in Ukraine.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Called up share capital not paid

-

2

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Other creditors

7,263

4,900

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.17

31.12.16

£

Other creditors

150,337