Mediterranean Energy Company Limited - Filleted accounts
Mediterranean Energy Company Limited - Filleted accounts
Registered number: | |||||||
Statement of Financial Position | |||||||
as at |
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Notes | 2018 | 2017 | |||||
€ | € | ||||||
Fixed assets | |||||||
Intangible assets | 4 | ||||||
Financial assets | |||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current liabilities | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholder's funds | ( |
( |
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Irene Evriviadou | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Going concern | ||||||||
The directors believe the company will continue to make profits and are making efforts to improve the company's profitability. The company also has the financial support of the shareholders which will continue for the foreseeable future. The accounts have therefore been prepared under the going concern basis. | ||||||||
Turnover | ||||||||
Intangible fixed assets | ||||||||
Investments | ||||||||
Unlisted investments (other than investments in subsidiaries, associates and joint ventures) are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value/Impairment losses are included in the profit and loss account. |
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Debtors | ||||||||
Creditors | ||||||||
Foreign currency translation | ||||||||
2 | Exceptional items | 2018 | 2017 | |||||
€ | € | |||||||
Value adjustments on fixed assets and current asset investments | - | (170,640) | ||||||
- | (170,640) | |||||||
3 | Employees | 2018 | 2017 | |||||
Number | Number | |||||||
Average number of persons employed by the company | - | - | ||||||
4 | Intangible fixed assets | € | ||||||
Trademark: | ||||||||
Cost | ||||||||
At 1 January 2018 | ||||||||
At 31 December 2018 | ||||||||
Amortisation | ||||||||
At 1 January 2018 | ||||||||
Provided during the year | ||||||||
At 31 December 2018 | ||||||||
Net book value | ||||||||
At 31 December 2018 | ||||||||
At 31 December 2017 | ||||||||
The company has purchased the rights to use the name "Auto Speedy" for 200,000 Euros over a period of 20 years. Brand name royalties are recognised at cost and amortised over their useful life on a straight-line basis. The brand name royalties' useful life is determined by the directors or the contracts of purchase. At the balance sheet date the company estimates whether there is any difference in its fair value from its net book value. In the case where there is a difference it is written off in the profit and loss account. | ||||||||
5 | Debtors | 2018 | 2017 | |||||
€ | € | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2018 | 2017 | |||||
€ | € | |||||||
Trade creditors | ||||||||
Accruals | 5,602 | 5,601 | ||||||
Amounts owed to associated undertakings | ||||||||
Other creditors | - | |||||||
7 | Controlling party | |||||||
8 | Other information | |||||||
Mediterranean Energy Company Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
4 The Mews | ||||||||
Bridge Road | ||||||||
Twickenham | ||||||||
London | ||||||||
TW1 1RF |