LA-SER Europe Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06965269 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

LA-SER EUROPE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Abenhaim

REGISTERED OFFICE:

5th Floor Front,

Audrey House

16-20 Ely Place

London

EC1N 6SN

REGISTERED NUMBER:

06965269 (England and Wales)

ACCOUNTANTS:

Lawrence & Co

Chartered Accountants

132-134 College Road

Harrow

Middlesex

HA1 1BQ

FIXED ASSETS

Tangible assets

4

8,467

9,757

Investments

5

499,967

499,967

508,434

509,724

CURRENT ASSETS

Debtors

6

2,777,539

4,043,645

Cash at bank and in hand

1,119,023

1,608,494

3,896,562

5,652,139

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

(3,223,021

)

(4,641,875

)

NET CURRENT ASSETS

673,541

1,010,264

TOTAL ASSETS LESS CURRENT LIABILITIES

1,181,975

1,519,988

ACCRUALS AND DEFERRED INCOME

1,062,097

1,128,303

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

119,877

391,684

SHAREHOLDERS' FUNDS

119,878

391,685

1,181,975

1,519,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 29 September 2017 and were signed by:

L Abenhaim - Director

1.	STATUTORY INFORMATION

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

Preparation of consolidated financial statements

The financial statements contain information about LA-SER Europe Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is recognised in the reporting period in which the services are rendered by reference to the stage of

completion of the specific transaction at the end of the reporting period. The stage of completion is determined

on the basis of the actual completion of a proportion of the total services to be rendered.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and at varying rates on cost

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The Company makes payments into employees' defined contribution plans. Once the contributions have been

paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid

are shown as a liability in the Balance Sheet.

Fixed asset investment

Fixed asset investment is stated at historical cost less any impairment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, and other third parties, loans to and

from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of

the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that

are payable or receivable within one year, typically trade payables or receivables, are measured, initially and

subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2015 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

164,437

Additions

3,765

Disposals

(52,905

)

At 31 December 2016

115,297

DEPRECIATION

At 1 January 2016

154,680

Charge for year

2,286

Eliminated on disposal

(50,136

)

At 31 December 2016

106,830

NET BOOK VALUE

At 31 December 2016

8,467

At 31 December 2015

9,757

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 December 2016

499,967

NET BOOK VALUE

At 31 December 2016

499,967

At 31 December 2015

499,967

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

1,099,639

1,277,842

Amounts owed by group undertakings

531,773

1,962,896

Other debtors

1,146,127

802,907

2,777,539

4,043,645

Amounts owed by group undertakings, are secured, interest free, have no fixed date of repayment and are

repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans and overdrafts

-

193

Trade creditors

66,835

96,785

Amounts owed to group undertakings

2,926,145

4,157,982

Taxation and social security

35,732

183,333

Other creditors

194,309

203,582

3,223,021

4,641,875

Amounts owed to group undertakings, are secured, interest free, have no fixed date of repayment and are

repayable on demand.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY