Registered number
10908415
Eurasian International Limited
Filleted Accounts
31 March 2023
Eurasian International Limited
Registered number: 10908415
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,576 7,872
Current assets
Debtors 4 608,330 440,737
Other debtors - 41,462
Cash at bank and in hand 195,936 61,155
804,266 543,354
Creditors: amounts falling due within one year 5 (604,818) (345,727)
Net current assets 199,448 197,627
Net assets 206,024 205,499
Capital and reserves
Share premium 100 100
Profit and loss account 205,924 205,399
Shareholders' funds 206,024 205,499
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ni Zhang
Director
Approved by the board on 15 August 2023
Eurasian International Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% Reducing balance basis
Fixtures, fittings, tools and equipment 25% Reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer Equipment Office Equipment Total
£ £ £
Cost
At 1 April 2022 12,462 2,822 15,284
Additions 590 108 698
At 31 March 2023 13,052 2,930 15,982
Depreciation
At 1 April 2022 5,913 1,499 7,412
Charge for the year 1,688 306 1,994
At 31 March 2023 7,601 1,805 9,406
Net book value
At 31 March 2023 5,451 1,125 6,576
At 31 March 2022 6,549 1,323 7,872
4 Debtors 2023 2022
£ £
Trade debtors 117,545 87,529
Other debtors 490,785 353,208
608,330 440,737
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 417,206 341,021
Taxation and social security costs 18,416 2,736
Other creditors 169,196 1,970
604,818 345,727
6 Related party transactions
As at the year-end there was a balance owed to Aqua Broadcast Ltd of £490,785, a
company which is connected to Eurasian International. There were also sales made to a connected
company MJ Broadcast (Shanghai) Co Ltd of £229,140 and payments made to a connected company
MJ Broadcast (Shanghai) Co Ltd of £269,233 both at an arms length transaction. There were payments made to Aqua Broadcast Ltd of £91383. A management fee has
also been charged by Aqua Broadcast Ltd of £4,393.
7 Other information
Eurasian International Limited is a private company limited by shares and incorporated in England. Its registered office is:
C/O Able & Young, Airport House
Purley Way
Croydon
CR0 0XZ
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