Company registration number 05702582 (England and Wales)
EURASIA GROUP UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
EURASIA GROUP UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
EURASIA GROUP UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
56,600
29,584
Current assets
Debtors
4
1,602,401
1,156,107
Cash at bank and in hand
208,703
433,427
1,811,104
1,589,534
Creditors: amounts falling due within one year
5
(209,279)
(132,472)
Net current assets
1,601,825
1,457,062
Total assets less current liabilities
1,658,425
1,486,646
Provisions for liabilities
(12,629)
(5,168)
Net assets
1,645,796
1,481,478
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
7
1,645,795
1,481,477
Total equity
1,645,796
1,481,478

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 28 September 2023 and are signed on its behalf by:
C Spratt
Director
Company Registration No. 05702582
EURASIA GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Eurasia Group UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Chamberlain Square Cs, Birmingham, B3 3AX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Eurasia Group UK Limited is dependent on Eurasia Group for its entire revenue. If Eurasia Group was to cease trading then Eurasia Group UK Limited would also cease trading. Since Eurasia Group currently has a full order book and has no intention of ceasing to trade, the financial statements of Eurasia Group UK Limited have been prepared on a going concern basis.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT. Turnover is based on a service agreement between Eurasia Group and Eurasia Group UK Limited. Under the terms of this agreement revenue is determined as being a 5% mark up on costs incurred, excluding interest expenses, client entertaining expenses, dividends paid or any taxes paid.

 

100% of the turnover was generated from supplies to overseas countries.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Leasehold land and buildings
Over life of lease
Computer equipment
20.00% - 33.33% on cost
Fixtures, fittings and equipment
16.66% - 33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

EURASIA GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

EURASIA GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
29
23
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
57,308
275,486
332,794
Additions
-
0
44,464
44,464
At 31 December 2022
57,308
319,950
377,258
Depreciation and impairment
At 1 January 2022
48,090
255,120
303,210
Depreciation charged in the year
1,623
15,825
17,448
At 31 December 2022
49,713
270,945
320,658
Carrying amount
At 31 December 2022
7,595
49,005
56,600
At 31 December 2021
9,218
20,366
29,584
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
1,602,401
1,156,107
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
85,127
8,333
Corporation tax
38,144
37,021
Other creditors
86,008
87,118
209,279
132,472
EURASIA GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
7
Profit and loss reserves
2022
2021
£
£
At the beginning of the year
1,481,477
1,317,462
Profit for the year
164,318
164,015
At the end of the year
1,645,795
1,481,477
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Laura Adkins
Statutory Auditor:
Whitley Stimpson Limited
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
370,200
769,400
10
Related party transactions

At the year end the company was owed £1,443,240 (2021 - £1,056,379) from Eurasia Group, an entity owned by Mr I Bremmer (director). This amount is included within other debtors and is receivable within one year. No interest is charged on this balance. Sales of £4,788,079 (2021 - £4,324,628) were made by the company to Eurasia Group in the year.

2022-12-312022-01-01false28 September 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedI BremmerM MinoviC SprattR Zhangfalse057025822022-01-012022-12-31057025822022-12-31057025822021-12-3105702582core:LandBuildings2022-12-3105702582core:OtherPropertyPlantEquipment2022-12-3105702582core:LandBuildings2021-12-3105702582core:OtherPropertyPlantEquipment2021-12-3105702582core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105702582core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3105702582core:CurrentFinancialInstruments2022-12-3105702582core:CurrentFinancialInstruments2021-12-3105702582core:ShareCapital2022-12-3105702582core:ShareCapital2021-12-3105702582core:RetainedEarningsAccumulatedLosses2022-12-3105702582core:RetainedEarningsAccumulatedLosses2021-12-3105702582core:RetainedEarningsAccumulatedLosses2021-12-3105702582core:RetainedEarningsAccumulatedLosses2020-12-3105702582bus:Director32022-01-012022-12-3105702582core:LandBuildingscore:LongLeaseholdAssets2022-01-012022-12-3105702582core:PlantMachinery2022-01-012022-12-3105702582core:FurnitureFittings2022-01-012022-12-31057025822021-01-012021-12-3105702582core:LandBuildings2021-12-3105702582core:OtherPropertyPlantEquipment2021-12-31057025822021-12-3105702582core:LandBuildings2022-01-012022-12-3105702582core:OtherPropertyPlantEquipment2022-01-012022-12-3105702582core:WithinOneYear2022-12-3105702582core:WithinOneYear2021-12-3105702582bus:PrivateLimitedCompanyLtd2022-01-012022-12-3105702582bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3105702582bus:FRS1022022-01-012022-12-3105702582bus:Audited2022-01-012022-12-3105702582bus:Director12022-01-012022-12-3105702582bus:Director22022-01-012022-12-3105702582bus:CompanySecretary12022-01-012022-12-3105702582bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP