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REGISTERED NUMBER: 05636942 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Euro Foods (GB) Limited

Euro Foods (GB) Limited (Registered number: 05636942)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Euro Foods (GB) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: H Z Onenc
S Sardagi
M A Gul





SECRETARY: H Z Onenc





REGISTERED OFFICE: 9 Sherburn Terrace
Wrekenton
Gateshead
Tyne and Wear
NE9 7AQ





REGISTERED NUMBER: 05636942 (England and Wales)





ACCOUNTANT: Ann Travis Accountancy Services
9 Sherburn Terrace
Wrekenton
Gateshead
Tyne and Wear
NE9 7AQ

Euro Foods (GB) Limited (Registered number: 05636942)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 87,646 104,262
87,646 104,262

CURRENT ASSETS
Stocks 89,796 74,145
Debtors 6 427,585 517,402
Cash at bank and in hand 304,107 204,289
821,488 795,836
CREDITORS
Amounts falling due within one year 7 429,119 312,971
NET CURRENT ASSETS 392,369 482,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,015

587,127

PROVISIONS FOR LIABILITIES 13,194 15,331
NET ASSETS 466,821 571,796

CAPITAL AND RESERVES
Called up share capital 170,000 170,000
Capital redemption reserve 30,000 30,000
Retained earnings 266,821 371,796
SHAREHOLDERS' FUNDS 466,821 571,796

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Euro Foods (GB) Limited (Registered number: 05636942)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:




S Sardagi - Director



M A Gul - Director


Euro Foods (GB) Limited (Registered number: 05636942)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Euro Foods (GB) 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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery 25% Reducing balance basis
Fixtures and fittings 25% Reducing balance basis
Computers 25% Reducing balance basis
Motor vehicles 25% Reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Euro Foods (GB) Limited (Registered number: 05636942)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 120,000
AMORTISATION
At 1 January 2023
and 31 December 2023 120,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Euro Foods (GB) Limited (Registered number: 05636942)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 729,141
Additions 12,667
At 31 December 2023 741,808
DEPRECIATION
At 1 January 2023 624,879
Charge for year 29,283
At 31 December 2023 654,162
NET BOOK VALUE
At 31 December 2023 87,646
At 31 December 2022 104,262

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 395,815 489,894
Other debtors 31,770 27,508
427,585 517,402

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 214,192 130,842
Taxation and social security 158,315 145,228
Other creditors 56,612 36,901
429,119 312,971

8. RELATED PARTY DISCLOSURES

H Z Onenc receives open market rent from the company in the normal course of business. £18000.