EUROWEB_(S.W.)_LIMITED - Accounts

EUROWEB (S.W.) LIMITED - Company Information

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Company Registration No. 02444764 (England and Wales)

EUROWEB (S.W.) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

EUROWEB (S.W.) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

EUROWEB (S.W.) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Current assets

Stocks

25,000

Debtors

489,605

499,763

Cash at bank and in hand

648,867

529,982

1,163,472

1,054,745

Creditors: amounts falling due within one year

(56,723)

(48,001)

Total assets less current liabilities

1,106,749

1,006,744

Capital and reserves

Called up share capital

10,002

Profit and loss account

1,096,747

996,742

Shareholders' funds

1,106,749

1,006,744

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 7 December 2016

Mr G D Tait

Director

Company Registration No. 02444764

EUROWEB (S.W.) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

33% straight line

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Share capital

2016

2015

Allotted, called up and fully paid

10,002 Ordinary shares of £1 each

10,002

Ultimate parent company

The ultimate parent company is GT Factors Limited, a company registered in England and Wales.