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REGISTERED NUMBER: 01975275 (England and Wales)















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: A Hood
Mrs R Hood
Miss G Hood
H Hood





Secretary: Mrs R Hood





Registered office: 3 Richmond Walk
Plymouth
Devon
PL1 4LL





Registered number: 01975275 (England and Wales)





Accountants: Nigel Webster & Co
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 16,380 19,988
16,380 19,988

Current assets
Stocks 48,950 57,330
Debtors 6 29,460 109,589
Cash at bank and in hand 958,196 762,724
1,036,606 929,643
Creditors
Amounts falling due within one year 7 142,190 154,206
Net current assets 894,416 775,437
Total assets less current liabilities 910,796 795,425

Provisions for liabilities 8 4,100 3,800
Net assets 906,696 791,625

Capital and reserves
Called up share capital 9 100 100
Retained earnings 906,596 791,525
Shareholders' funds 906,696 791,625

Eurospars Limited (Registered number: 01975275)

BALANCE SHEET - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 28 March 2024 and were signed on its behalf by:





A Hood - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 upgrades20% Straight line
Machinery25% of net book value
Motor vehicles25% 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 6 (2022 - 6 ) .

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 800
Amortisation
At 1 November 2022
and 31 October 2023 800
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 2,123 93,395 95,518
Additions - 200 200
At 31 October 2023 2,123 93,595 95,718
Depreciation
At 1 November 2022 2,123 73,407 75,530
Charge for year - 3,808 3,808
At 31 October 2023 2,123 77,215 79,338
Net book value
At 31 October 2023 - 16,380 16,380
At 31 October 2022 - 19,988 19,988

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,008 98,089
Other debtors 17,452 11,500
29,460 109,589

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 47,232 83,105
Amounts owed to group undertakings 12,500 -
Taxation and social security 76,684 54,772
Other creditors 5,774 16,329
142,190 154,206

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,100 3,800

Deferred
tax
£   
Balance at 1 November 2022 3,800
Provided during year 300
Balance at 31 October 2023 4,100

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 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.