Fedanco (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00957927 (England)

Unaudited Financial Statements

For The Year Ended 31 December 2018

for

FEDANCO (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I Aspillera

A Federman

SECRETARY:

I Aspillera

REGISTERED OFFICE:

16 Northfields Prospect Business Centre

Putney Bridge Road

London

SW18 1PE

REGISTERED NUMBER:

00957927 (England)

ACCOUNTANTS:

LBCo Ltd

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

FIXED ASSETS

Tangible assets

4

-

172

CURRENT ASSETS

Debtors

5

13,499

13,499

CREDITORS

Amounts falling due within one year

6

39,070

42,958

NET CURRENT LIABILITIES

(25,571

)

(29,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,571

)

(29,287

)

CREDITORS

Amounts falling due after more than one year

7

1,795,980

1,859,802

NET LIABILITIES

(1,821,551

)

(1,889,089

)

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

9

(1,821,751

)

(1,889,289

)

SHAREHOLDERS' FUNDS

(1,821,551

)

(1,889,089

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 15 September 2019 and were signed on its behalf by:

I Aspillera - Director

1.	STATUTORY INFORMATION

Fedanco (UK) Limited is a private company, limited by shares , registered in England. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

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

Computer equipment

-

10% on cost

Foreign currency translation

The financial statements are presented in US dollars, which is the company's functional and presentational

currency.

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

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

transaction.

Going concern

At the year end the company had current assets of $13,499 and current liabilities of $39,070.

In the event that additional funding is required, on the understanding that the ultimate parent company, Pandab

Ltd and its shareholders have sufficient funds to enable them to provide this support; the directors consider it

appropriate to prepare the accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

$

COST

At 1 January 2018

868

Disposals

(868

)

At 31 December 2018

-

DEPRECIATION

At 1 January 2018

696

Charge for year

172

Eliminated on disposal

(868

)

At 31 December 2018

-

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

172

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

$

$

Other debtors

13,499

13,499

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

$

$

Other creditors

39,070

42,958

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

$

$

Amounts owed to group undertakings

1,795,980

1,859,802

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

$

$

100

Ordinary share of £1 each

£1

200

200

9.

RESERVES

Retained

earnings

$

At 1 January 2018

(1,889,289

)

Profit for the year

67,538

At 31 December 2018

(1,821,751

)

10.

CONTROL

The company is controlled by Pandab Ltd, a company incorporated in Israel, which owns the company's entire

issued share capital.

Copies of consolidated financial statements of Pandab Ltd may be obtained from:

Cliff Tower (Migdal Hatzook)

12 Ramot Yum Street

Herzliyah Pituah 46851

Israel

11.	RELATED PARTY TRANSACTIONS

At the year end an amount of $1,795,980 (2017: $1,859,802) was due to Pandab Ltd.