Eurofloor Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05466161 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2017

for

Eurofloor Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs M L R Frantzen

REGISTERED OFFICE:

Chestnut Field House

Chestnut Field

Rugby

Warwickshire

CV21 2PD

REGISTERED NUMBER:

05466161 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

Chestnut Field House

Chestnut Field

Rugby

Warwickshire

CV21 2PD

FIXED ASSETS

Tangible assets

4

159

1,148

CURRENT ASSETS

Debtors

1,132,432

405,778

Cash at bank

70,601

165

1,203,033

405,943

CREDITORS

Amounts falling due within one year

1,746,634

924,975

NET CURRENT LIABILITIES

(543,601

)

(519,032

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(543,442

)

(517,884

)

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

(643,442

)

(617,884

)

(543,442

)

(517,884

)

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 her 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 director on 27 September 2018 and were signed by:

Mrs M L R Frantzen - Director

1.	STATUTORY INFORMATION

Eurofloor Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on a going concern basis, which contemplates continuity of

normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of

business.

In the Director's opinion the accounts should be prepared on a going concern basis. This opinion is based

upon the understanding that the former parent company and its associated entities will not seek to recover the

amounts due to them in excess of the realisable assets of the company and not within the next twelve month

period. If this understanding was not correct, the going concern basis may not be appropriate.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and

the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or

receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Computer equipment

-

33% on cost

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on

notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than

three months from the date of acquisition and that are readily convertible to known amounts of cash with

insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2016 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

2,946

Additions

170,422

Disposals

(170,422

)

At 31 December 2017

2,946

DEPRECIATION

At 1 January 2017

1,798

Charge for year

35,073

Eliminated on disposal

(34,084

)

At 31 December 2017

2,787

NET BOOK VALUE

At 31 December 2017

159

At 31 December 2016

1,148