Neptune Property Developments Europe Limited iXBRL

Neptune Property Developments Europe Limited iXBRL

NEPTUNE PROPERTY DEVELOPMENTS EUROPE LIMITED - Company Information

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Relate AccountsProduction v2.1.11 v2.1.11 2016-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the development and sale of real estate. 9 August 2017 05870767 2016-12-31 05870767 2015-12-31 05870767 2014-12-31 05870767 2016-01-01 2016-12-31 05870767 2015-01-01 2015-12-31 05870767 uk-bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 05870767 uk-bus:FullAccounts 2016-01-01 2016-12-31 05870767 uk-bus:Director1 2016-01-01 2016-12-31 05870767 uk-bus:CompanySecretaryDirector1 2016-01-01 2016-12-31 05870767 uk-bus:CompanySecretary1 2016-01-01 2016-12-31 05870767 uk-bus:RegisteredOffice 2016-01-01 2016-12-31 05870767 uk-bus:Agent1 2016-01-01 2016-12-31 05870767 uk-core:ShareCapital 2016-12-31 05870767 uk-core:ShareCapital 2015-12-31 05870767 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 05870767 uk-core:RetainedEarningsAccumulatedLosses 2015-12-31 05870767 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2016-12-31 05870767 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2015-12-31 05870767 uk-bus:FRS102 2016-01-01 2016-12-31 05870767 uk-core:Subsidiary1 2016-01-01 2016-12-31 05870767 uk-core:CurrentFinancialInstruments 2016-12-31 05870767 uk-core:CurrentFinancialInstruments 2015-12-31 05870767 uk-core:WithinOneYear 2016-12-31 05870767 uk-core:WithinOneYear 2015-12-31 05870767 uk-bus:OrdinaryShareClass1 2016-01-01 2016-12-31 05870767 uk-bus:OrdinaryShareClass1 2016-12-31 05870767 2016-01-01 2016-12-31 05870767 uk-bus:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
Neptune Property Developments Europe Limited
 
Unaudited Financial Statements
 
for the year ended 31 December 2016
Neptune Property Developments Europe Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Patrick Heffron
Creighton Boyd
 
 
Company Secretary Creighton Boyd
 
 
Company Number 05870767
 
 
Registered Office and Business Address 14 Holywell Row
London
EC2A 4JB
United Kingdom
 
 
Accountants PGR Accountants Limited
Chartered Accountants
The Office Dock
Unit 2 Channel Wharf
21 Old Channel Road
Belfast
Antrim
BT3 9DE
Northern Ireland



Neptune Property Developments Europe Limited
Company Number: 05870767
BALANCE SHEET
as at 31 December 2016

2016 2015
Notes £ £
 
Fixed Assets
 
Investments 4 4,200 4,200
───────── ─────────
 
Current Assets
 
Debtors 5 514,689 514,689
 
Creditors: Amounts falling due within one year 6 (590,265) (589,785)
───────── ─────────
 
Net Current Liabilities (75,576) (75,096)
───────── ─────────
 
Total Assets less Current Liabilities (71,376) (70,896)
═════════ ═════════
 
Capital and Reserves
 
Called up share capital 7 100 100
 
Profit and Loss Account (71,476) (70,996)
───────── ─────────
Equity attributable to owners of the company (71,376) (70,896)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that 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 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 9 August 2017 and signed on its behalf by
           
________________________________          
Patrick Heffron          
Director          



Neptune Property Developments Europe Limited
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2016

   
1. GENERAL INFORMATION
 
Neptune Property Developments Europe Limited is a company limited by shares incorporated in the United Kingdom.
         
2. ACCOUNTING POLICIES
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2016 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other financial fixed asset investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
   
3. ADOPTION OF FRS 102 SECTION 1A
 
This is the first set of financial statements prepared by Neptune Property Developments Europe Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2015.
       
4. INVESTMENTS
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 December 2016 4,200 4,200
  ───────── ─────────
Net book value
At 31 December 2016 4,200 4,200
  ═════════ ═════════
At 31 December 2015 4,200 4,200
  ═════════ ═════════
             
4.1. Holdings of 20% or more
The company holds 20% or more of the share capital of the following companies:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation business   investment company
 
Subsidiary undertaking
Neptune Property BHJ D.O.O Slovenia Real Estate   Ordinary Shares 70%
 
In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.
       
5. DEBTORS 2016 2015
  £ £
 
Amounts owed by connected parties (Note 8) 31,481 31,481
Other debtors 483,208 483,208
  ───────── ─────────
  514,689 514,689
  ═════════ ═════════
       
6. CREDITORS 2016 2015
Amounts falling due within one year £ £
 
Investors 455,934 455,934
Amounts owed to connected parties (Note 8) 133,831 133,351
Accruals 500 500
  ───────── ─────────
  590,265 589,785
  ═════════ ═════════
           
7. SHARE CAPITAL     2016 2015
      £ £
Description Number of shares Value of units    
 
Allotted, called up and fully paid
Ordinary 100 £1 each 100 100
 
      ═════════ ═════════
           
8. RELATED PARTY TRANSACTIONS
 
 
  Balance Movement Balance Maximum
  2016 in year 2015 in year
  £ £ £ £
 
Neptune Property BHJ D.O.O 31,481 - 31,481 -
  ═════════ ═════════ ═════════ ═════════
 
      2016 2015
The following amounts are due to other connected parties:   £ £
 
Neptune Property Developments Ltd     133,831 133,351
      ═════════ ═════════
 
      2016 2015
Net balances with other connected parties:     £ £
 
Neptune Property BHJ D.O.O     31,481 31,481
Neptune Property Developments Ltd     (133,831) (133,351)
      ───────── ─────────
      (102,350) (101,870)
      ═════════ ═════════
 
Neptune Property Developments (Europe) Ltd is related to Neptune Property BHJ D.O.O as Patrick Heffron and Creighton Boyd exert significant influence over the company. There were no transactions between the companies during the year leaving a balance of £31,481 (2015: £31,481) due from Neptune Property BHJ D.O.O outstanding at the year end. No interest was charged on this loan and this is repayable on demand.

Neptune Property Developments (Europe) Ltd is related to Neptune Group Ltd as Patrick Heffron and Creighton Boyd jointly control the company by virtue of their shareholdings through Boyd Estates Limited & Heffron Estates Limited. Neptune Property Development (Europe) Ltd received payments from Neptune Group Limited during the year totalling £480 (2015: £1,486) during the year leaving a balance of £133,831 (2015: £133,351) due to Neptune Group Ltd at the year end. No interest was charged on this loan and this is repayable on demand.