REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023 |
FOR |
SRC EUROPE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023 |
FOR |
SRC EUROPE LIMITED |
SRC EUROPE LIMITED (REGISTERED NUMBER: 08279106) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th June 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
SRC EUROPE LIMITED |
COMPANY INFORMATION |
for the Year Ended 30th June 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
SRC EUROPE LIMITED (REGISTERED NUMBER: 08279106) |
STATEMENT OF FINANCIAL POSITION |
30th June 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
SRC EUROPE LIMITED (REGISTERED NUMBER: 08279106) |
STATEMENT OF FINANCIAL POSITION - continued |
30th June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SRC EUROPE LIMITED (REGISTERED NUMBER: 08279106) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th June 2023 |
1. | STATUTORY INFORMATION |
SRC Europe Limited is a private company limited by share capital, incorporated in England and Wales, registration number 08279106. The address of the registered office and principal place of business is 1010 Cambourne Business Park Cambourne, Cambridge, England, CB23 6DP |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
During the year the company made a loss of £87,449 (2022: £57,672) and also has a deficit on shareholders funds of £334,559 (2022: £247,150). The directors consider the going concern basis to be appropriate having continued support from associated companies that the director has a controlling interest in. |
Turnover |
Turnover represents amounts recognised by the company in respect of goods supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of weight loss supplements which are recognised at the point of which the goods are provided. |
Intangible assets |
At each reporting date, the company reviews the carrying amounts of its intangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Patents and licence are not currently incurring any impairment against them. |
Stocks |
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Costs are based on the method most appropriate to the type of inventory class, usually on a first-in-first-out basis. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
SRC EUROPE LIMITED (REGISTERED NUMBER: 08279106) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th June 2023 |
2. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
Disposals | ( |
) |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
SRC EUROPE LIMITED (REGISTERED NUMBER: 08279106) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th June 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 2,000 | 2,000 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the year ended 30 June 2023 the directors' loan account was in credit by £20 (2022: £nil). |