Registered number
SC139352
Eurocare Impex Services Ltd
Unaudited Filleted Accounts
31 December 2023
Eurocare Impex Services Ltd
Registered number: SC139352
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,360 997
Current assets
Stocks 336,059 424,032
Debtors 4 30,304 13,812
Cash at bank and in hand 207,674 78,510
574,037 516,354
Creditors: amounts falling due within one year 5 (151,679) (245,501)
Net current assets 422,358 270,853
Total assets less current liabilities 423,718 271,850
Creditors: amounts falling due after more than one year 6 - (2,329)
Net assets 423,718 269,521
Capital and reserves
Called up share capital 100 100
Profit and loss account 423,618 269,421
Shareholder's funds 423,718 269,521
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 member has 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.
MR J. D. MURRAY
Director
Approved by the board on 19 August 2024
Eurocare Impex Services Ltd
Notes to the Accounts
for the year ended 31 December 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:
Plant and machinery 25% on the reducing balance
Fixtures, fittings, tools and equipment over 5 years
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 32,866 500 33,366
Additions 824 - 824
At 31 December 2023 33,690 500 34,190
Depreciation
At 1 January 2023 31,869 500 32,369
Charge for the year 461 - 461
At 31 December 2023 32,330 500 32,830
Net book value
At 31 December 2023 1,360 - 1,360
At 31 December 2022 997 - 997
4 Debtors 2023 2022
£ £
Trade debtors 28,840 4,368
Amounts owed by related company 1,464 -
Other debtors - 9,444
30,304 13,812
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 6,250
Trade creditors 29,610 32,145
Amounts owed to related company - 42,485
Taxation and social security costs 116,487 152,908
Other creditors 5,582 11,713
151,679 245,501
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 2,329
7 Related party transactions
Euro Healthcare Services Limited
A company in common ownership
The company occupied premises owned by Euro Healthcare Services Limited. No rent was charged in the year.
Euro Healthcare Services Limited has also provided an interest free loan to fund working capital. The inter-company loan is secured by a floating charge.
Amount due from (to) the related party 1,464 (42,485)
8 Other information
Eurocare Impex Services Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
107 Irish Street
Dumfries
DG1 2NP
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