Euro Finance & Commercial Limited

Euro Finance & Commercial Limited

EURO FINANCE & COMMERCIAL LTD - Company Information

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Registered number: 04019939
Euro Finance & Commercial Limited
Abbreviated accounts
For The Year Ended 30 June 2016
Euro Finance & Commercial Limited
Company No. 04019939
Abbreviated Balance Sheet 30 June 2016
Abbreviated Balance Sheet
2016 2015
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 10,686 11,185
Cash at bank and in hand 3,007 9,456
13,693 20,641
Creditors: Amounts Falling Due Within One Year (314 ) (4,028 )
NET CURRENT ASSETS (LIABILITIES) 13,379 16,613
TOTAL ASSETS LESS CURRENT LIABILITIES 13,379 16,613
NET ASSETS 13,379 16,613
CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and Loss Account 13,279 16,513
SHAREHOLDERS' FUNDS 13,379 16,613
For the year ending 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
Mr James Cook
03/03/2017
Euro Finance & Commercial Limited
Notes to the Abbreviated Accounts
For The Year Ended 30 June 2016
Notes to the Abbreviated Accounts
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Turnover
Turnover is the amount derived from the provision of services falling within the company's ordinary activities, stated net of any applicable value added tax. Turnover is accounted for on an accruals basis.
1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 1 year
1.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2. Tangible Assets
Total
Cost £
As at 1 July 2015 13,029
As at 30 June 2016 13,029
Depreciation
As at 1 July 2015 13,029
As at 30 June 2016 13,029
Net Book Value
As at 30 June 2016 -
As at 1 July 2015 -
3. Share Capital
Value Number 2016 2015
Allotted, called up and fully paid £ £ £
Ordinary shares 1 100 100 100
4. Transactions With and Loans to Directors
Remuneration of £4,800 (2015: £7,000) was paid to one of the directors, Mrs KA Cook.
5. Ultimate Controlling Party
The company's ultimate controlling party is Mr James Cook by virtue of his ownership of 75% of the issued share capital in the company.
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