Registered number
07920048
Euclid Applications Limited
Filleted Accounts
30 June 2023
Euclid Applications Limited
Registered number: 07920048
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 787 87
Cash at bank and in hand 3,590 720
4,377 807
Creditors: amounts falling due within one year 5 (11,238) (10,070)
Net current liabilities (6,861) (9,263)
Total assets less current liabilities (6,861) (9,263)
Creditors: amounts falling due after more than one year 6 (5,000) (5,000)
Net liabilities (11,861) (14,263)
Capital and reserves
Called up share capital 19,081 19,081
Profit and loss account (30,942) (33,344)
Shareholders' funds (11,861) (14,263)
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.
G C Brown
Director
Approved by the board on 15 April 2024
Euclid Applications Limited
Notes to the Accounts
for the year ended 30 June 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 25% straight line
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. 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 - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 420
At 30 June 2023 420
Depreciation
At 1 July 2022 420
At 30 June 2023 420
Net book value
At 30 June 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 700 -
Other debtors 87 87
787 87
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,366 1,247
Other creditors 9,872 8,823
11,238 10,070
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 5,000 5,000
7 Loans to directors
Description and conditions B/fwd Advances/ (credits) to the Director Repaid C/fwd
£ £ £ £
G C Brown
(8,105) (717) - (8,822)
(8,105) (717) - (8,822)
8 Related party transactions
The Company was under the control of Mr G C Brown throughout the period under review. Mr Brown is the Managing Director and majority shareholder. The movement on the Director's Loan Account is shown in the above note.
Mr Brown is also the sole Director/shareholder of Euclid International Limited. £12,865 remained outstanding to Euclid International Limited at the balance sheet date. The full value has been written off as at 31 January 2022 (£15,240:2021)
9 Other information
Euclid Applications Limited is a private company limited by shares and incorporated in England. Its registered office is:
100/1
Cambridge Street
Manchester
England
M1 5GB
Euclid Applications Limited 07920048 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts April 2022 G C Brown No description of principal activity 07920048 2021-02-01 2022-06-30 07920048 core:WithinOneYear 2022-06-30 07920048 core:AfterOneYear 2022-06-30 07920048 core:ShareCapital 2022-06-30 07920048 core:RetainedEarningsAccumulatedLosses 2022-06-30 07920048 2022-07-01 2023-06-30 07920048 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07920048 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07920048 bus:Director40 2022-07-01 2023-06-30 07920048 1 2022-07-01 2023-06-30 07920048 2 2022-07-01 2023-06-30 07920048 bus:Director1 2022-07-01 2023-06-30 07920048 bus:Director1 1 2022-07-01 2023-06-30 07920048 countries:England 2022-07-01 2023-06-30 07920048 bus:FRS102 2022-07-01 2023-06-30 07920048 bus:FullAccounts 2022-07-01 2023-06-30 07920048 2023-06-30 07920048 core:WithinOneYear 2023-06-30 07920048 core:AfterOneYear 2023-06-30 07920048 core:ShareCapital 2023-06-30 07920048 core:RetainedEarningsAccumulatedLosses 2023-06-30 07920048 core:PlantMachinery 2023-06-30 07920048 bus:Director1 1 2023-06-30 07920048 2022-06-30 07920048 core:PlantMachinery 2022-06-30 07920048 bus:Director1 1 2022-06-30 iso4217:GBP xbrli:pure