Eurotask Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05491222 (England and Wales)

EUROTASK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M H Luffingham

SECRETARY:

Mrs A E Luffingham

REGISTERED OFFICE:

Little Meadow

Hambledon Road

Denmead

Hampshire

PO7 6HD

REGISTERED NUMBER:

05491222 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

CURRENT ASSETS

Stocks

-

950

Debtors

5

3,220

1,390

Cash at bank

10,095

48,847

13,315

51,187

CREDITORS

Amounts falling due within one year

6

18,786

58,895

NET CURRENT LIABILITIES

(5,471

)

(7,708

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,471

)

(7,708

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

7

(5,481

)

(7,718

)

SHAREHOLDERS' FUNDS

(5,471

)

(7,708

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 2 March 2018 and were signed by:

M H Luffingham - Director

1.	STATUTORY INFORMATION

Eurotask 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.

Turnover

Turnover represents net invoiced sales of equipment for the marine industry and the provision of

consultancy services excluding value added tax.

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

-

25% on cost and 20% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as

otherwise required in the paragraphs below.

Unrelieved losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax shall not be recognised on permanent differences, other than a business combination

where assets (other than goodwill) give rise to a deferred tax asset or liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 September 2016

and 31 August 2017

4,557

1,292

5,849

DEPRECIATION

At 1 September 2016

and 31 August 2017

4,557

1,292

5,849

NET BOOK VALUE

At 31 August 2017

-

-

-

At 31 August 2016

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

148

Other debtors

3,220

1,242

3,220

1,390

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

5,494

1,145

Other creditors

13,292

57,750

18,786

58,895

7.

RESERVES

Retained

earnings

£

At 1 September 2016

(7,718

)

Profit for the year

2,237

At 31 August 2017

(5,481

)

8.	FIRST YEAR ADOPTION

In preparing the accounts, the director has considered whether in applying the accounting policies

required by FRS 102 Section 1A a restatement of comparative items was needed. No restatements

were required.