REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
Eurospars Limited |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
Eurospars Limited |
Eurospars Limited (Registered number: 01975275) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Eurospars Limited |
COMPANY INFORMATION |
for the year ended 31 October 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Eurospars Limited (Registered number: 01975275) |
BALANCE SHEET |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Retained earnings |
Shareholders' funds |
Eurospars Limited (Registered number: 01975275) |
BALANCE SHEET - continued |
31 October 2023 |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Eurospars Limited (Registered number: 01975275) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Eurospars 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 |
Turnover |
Turnover is measured at the fair value of the consideration 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 both the sale of goods and rendering of services is recognised when the service is complete. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business has previously been fully amortised. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write down each asset to its estimated residual value over its estimated useful life: |
Property upgrades | 20% Straight line |
Machinery | 25% of net book value |
Motor vehicles | 25% of net book value |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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 balance sheet date. |
Eurospars Limited (Registered number: 01975275) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Eurospars Limited (Registered number: 01975275) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Amortisation |
At 1 November 2022 |
and 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
5. | TANGIBLE FIXED ASSETS |
Property | Machinery |
upgrades | & vehicles | Totals |
£ | £ | £ |
Cost |
At 1 November 2022 |
Additions |
At 31 October 2023 |
Depreciation |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Eurospars Limited (Registered number: 01975275) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 4,100 | 3,800 |
Deferred |
tax |
£ |
Balance at 1 November 2022 |
Provided during year |
Balance at 31 October 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | £1 | 100 | 100 |
10. | ULTIMATE CONTROLLING PARTY |
The company is a 100% subsidiary of Hood Rigging Ltd. Hood Rigging Ltd is wholly owned by the directors of Eurospars Limited. |