West Lancaster Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06214350 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

West Lancaster Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs M A Justice

REGISTERED OFFICE:

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

REGISTERED NUMBER:

06214350 (England and Wales)

ACCOUNTANTS:

Adbell Advisory Ltd

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

FIXED ASSETS

Investments

3

6,391,619

6,229,950

CURRENT ASSETS

Debtors

4

-

400,100

Cash at bank

42,498

42,609

42,498

442,709

CREDITORS

Amounts falling due within one year

5

(6,873,449

)

(6,737,148

)

NET CURRENT LIABILITIES

(6,830,951

)

(6,294,439

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(439,332

)

(64,489

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

(439,333

)

(64,490

)

SHAREHOLDERS' FUNDS

(439,332

)

(64,489

)

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 September 2018 and were signed by:

Mrs M A Justice - Director

1.	STATUTORY INFORMATION

West Lancaster Investments 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 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.

Foreign currencies

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

sheet date. Transactions in foreign currencies are translated into Euro 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. The company has obtained undertakings

from its shareholders that they will continue to support the company for the foreseeable future and meet all third

party liabilities as they fall due. Given this undertaking, the directors consider it appropriate to adopt a going

concern basis in preparing the financial statements

3.	FIXED ASSET INVESTMENTS

31.12.17

31.12.16

Restated

€

€

Shares in group undertakings

660,743

651,106

Loans to group undertakings

5,730,876

5,578,844

6,391,619

6,229,950

Additional information is as follows:

Shares in

group

undertakings

€

COST

At 1 January 2017

651,106

revaluation movement

9,637

At 31 December 2017

660,743

NET BOOK VALUE

At 31 December 2017

660,743

At 31 December 2016

651,106

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Luxury SRL

Registered office: Italy

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

31.12.17

31.12.16

€

€

Aggregate capital and reserves

3,178

5,843

Loss for the year

(6,822

)

(4,262

)

Stag MD

Registered office: Moldova

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

31.12.17

31.12.16

€

€

Aggregate capital and reserves

4,048,819

4,799,827

Profit for the year

72,677

334,329

Mas Trade MD

Registered office: Moldova

Nature of business:

%

Class of shares:

holding

Ordinary

94.00

No other information available for the subsidiary undertaking.

Erre-S Costruzioni SRL

Registered office: Italy

Nature of business:

%

Class of shares:

holding

Ordinary

80.00

31.12.17

31.12.16

€

€

Aggregate capital and reserves

331,480

336,957

(Loss)/profit for the year

(5,477

)

141,586

Rexburg

Registered office: USA

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

No other information available for the subsidiary undertaking.

O.M.A.R. SRL

Registered office: Italy

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

31.12.17

31.12.16

€

€

Aggregate capital and reserves

10,894

55,513

Loss for the year

(44,619

)

(4,802

)

Loans to

group

undertakings

€

At 1 January 2017

5,578,844

New in year

197,600

Other movement

(45,568

)

At 31 December 2017

5,730,876

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

Restated

€

€

Other debtors

-

400,100

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

Restated

€

€

Other creditors

6,873,449

6,737,148

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

€

€

1

Ordinary

£1

1

1

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Marc Kurt Ostheimer.