Registered number
02774433
Eurogold Properties Limited
Filleted Accounts
31 March 2023
Eurogold Properties Limited
Registered number: 02774433
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 818,983 818,983
Current assets
Cash at bank and in hand 306,346 264,133
Creditors: amounts falling due within one year 4 (586,191) (593,855)
Net current liabilities (279,845) (329,722)
Net assets 539,138 489,261
Capital and reserves
Called up share capital 100 100
Profit and loss account 539,038 489,161
Shareholders' funds 539,138 489,261
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.
Shamim Akhtar Hussain
Director
Approved by the board on 16 November 2023
Eurogold Properties 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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 816,741 32,708 849,449
At 31 March 2023 816,741 32,708 849,449
Depreciation
At 1 April 2022 - 30,466 30,466
At 31 March 2023 - 30,466 30,466
Net book value
At 31 March 2023 816,741 2,242 818,983
At 31 March 2022 816,741 2,242 818,983
4 Creditors: amounts falling due within one year 2023 2022
£ £
Director Loan 569,901 569,901
Corporation tax 11,700 7,255
Other creditors 4,590 16,699
586,191 593,855
5 Other information
Eurogold Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Stonemead Avevue
Hale Barns
Altrincham
Cheshire
WA15 0BQ
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